Pro-Pharmaceuticals, Inc. (now Galectin Therapeutics)

Corporate Snapshot

Pro-Pharmaceuticals, Inc. ("Pro-Pharmaceuticals" or "the Company") is a development-stage company engaged in the discovery, development, and commercialization of first-in-class, targeted therapeutic compounds for advanced treatment of cancer, liver, microbial, and inflammatory diseases. The Company's initial focus is the development of a new generation of anti-cancer treatments using carbohydrate polymers to increase survival and improve the quality of life for cancer patients. Pro-Pharmaceuticals believes that the need to improve drug therapies, particularly anti-cancer agents, is significant and represents a large market opportunity. DAVANAT(r), the lead pipeline candidate, is a proprietary new chemical entity that is currently in Phase II trials for first-line treatment of colorectal and biliary cancer. The Company's targeted therapeutic compounds can also be used to treat other serious diseases, such as liver and kidney fibrosis. Pro-Pharmaceuticals has entered into research collaborations with the Mt. Sinai School of Medicine in New York to study the anti-fibrotic effects of the Company's novel carbohydrate compounds on liver fibrosis; with the Brigham and Women's Hospital in Boston to evaluate the anti-fibrotic effects of these compounds to treat acute and chronic kidney disease; and with the University of California at Davis and Fudan University in Shanghai to conduct anti-fibrosis tests. In animal models, the Company's compounds have shown to significantly reduce collagen expression and reverse fibrosis. Whereas previous in vitro data has only indicated a reversal of fibrosis markers, in proof-of-concept animal studies during October 2007, the compounds significantly reduced collagen expression and reversed liver fibrosis.