Sufficient financing has been received by Galectin Therapeutics Inc. in Norcross to cover its expenditures for Phase Two of its NASH-CX (which it expects to complete by early December 2017) and for other planned expenditures for the rest of the year.
The company develops therapeutics that target galectin proteins, and these can cause the pathogenesis of fatty liver disease and fibrosis. The NASH-CX clinical trial is a double-blind, placebo-controlled study in which 162 cirrhosis patients have been enrolled in the treatment phase.
The company has reported that in all phases of the clinical trials (during which time there have been over 3,000 infusions), there have been no serious adverse reactions related to the drug. The company adds that it is on track for completion of the second phase by the end of the year.
President, Chief Executive Officer and Chief Medical Officer of Galectin Therapeutics, Dr. Peter Traber, commented that there are no approved therapies for cirrhosis of the liver, which has a large medical need, and the company is pleased with its progress so far in the clinical trials.
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