NORCROSS, Ga., June 04, 2018 (GLOBE NEWSWIRE) -- Galectin Therapeutics Inc. (NASDAQ:GALT), the leading developer of therapeutics that target galectin proteins, announced today that the directors elected Richard E. Uihlein as Chairman of the Board of Directors. Additionally, Kevin D. Freeman was elected Vice Chairman of the Board of Directors.
“It’s a great honor to have the directors’ confidence, and, on behalf of the Board, I want to thank Dr. Marc Rubin for his tireless effort and stewardship as past Chairman, as well as in his ongoing role as a member of the Board and key committees. As Chairman, I am committed to optimizing the value of our proprietary compound, GR-MD-02, and helping steer the company through its next phase,” said Mr. Uihlein. “NASH cirrhosis is a disease that affects millions of people here in the U.S. as well as around the world, and there is no known cure. The results of the recent NASH-CX trial may represent a breakthrough for patients with NASH cirrhosis, and GR-MD-02 shows great promise as a potential treatment for a wide range of other diseases. At this important inflection point in the Company’s growth, I believe it was the right time to take a more active role where I can use my prior experience building businesses to guide the Company forward with a focus on the long-term success of Galectin Therapeutics.”
Mr. Uihlein has been a Company Director since 2017 and is a long-time investor in the Company. He is co-founder of Uline, Inc., a leading distributor of shipping, packaging and industrial supplies, serving as its Chief Executive Officer and Chairman since its 1980 inception. Prior to founding Uline, Mr. Uihlein was employed at General Bindings Corp., in Northbrook, IL from 1967 to 1980. Mr. Uihlein graduated from Stanford University with a B.A. degree in history in 1967.
Dr. Rubin commented “I am proud to have led the company, as its Chairman, through a time in which a great deal has been accomplished by an outstanding team; the success of our phase 2b trial has provided clear direction for future phase 3 studies. I believe that now is the right time for new Board leadership, and I am looking forward to continue helping advance the Company, working closely with Dick Uihlein and my other Board colleagues in meeting the challenges ahead.”
Dr. Peter Traber, CEO and CMO, said “I am extremely grateful for the outstanding leadership and wise counsel of Dr. Rubin while he was Board Chair and I look forward to working with Mr. Uihlein, as well as Mr. Freeman. I am also grateful for the Board’s continued confidence in our experienced team, and we will continue to focus on advancing the numerous activities supporting our NASH Phase 3 cirrhosis program. With the Galectin management team and senior leaders intact and focusing on our NASH cirrhosis Phase 3 planning activities and in our partnering endeavors, I am confident in our goals to build value for our shareholders and to continue advancing GR-MD-02 to provide patients a treatment option to deal with their NASH cirrhosis.”
About NASH Cirrhosis
NASH cirrhosis is the final stage in the progression of non-alcoholic steatohepatitis (NASH), a disease of the liver which affects millions of people in the U.S. and worldwide. The liver cell death and inflammation seen in NASH eventually causes progressive scarring of the liver, which can result in liver cirrhosis. While the early stages of NASH can be treated by changes in lifestyle, such as losing weight and exercising, once the disease progresses to NASH cirrhosis there is no treatment available short of a liver transplant. Of the total number of individuals in the world believed to presently have NASH, it is predicted that NASH cirrhosis will eventually kill 20 million of those people.
