Pro-Pharmaceuticals and Mount Sinai annouced New Liver Fibrosis Research Collaboration

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Pro-Pharmaceuticals, Inc., the leading developer of Galectin therapeutics to treat cancer and fibrosis, today announced it has entered into a new research collaboration with Mount Sinai School of Medicine to evaluate in pre-clinical models, the anti-fibrotic effects of several of the Company’s novel, Galectin-targeting compounds. Mount Sinai has one of the world’s largest, most productive and well-respected liver disease investigation programs. In previous experiments, Pro-Pharmaceuticals’ polysaccharide compounds that target Galectin receptors have been shown to reverse the formation of fibrotic tissue in diseased rat livers. The Company’s GR-Series of anti-fibrotic, cirrhosis compounds have reversed liver fibrosis/cirrhosis in pre-clinical studies. The only current treatment for late stage fibrosis or cirrhosis is a liver transplant.

According to the American Liver Foundation, more than 25 million Americans are or have been afflicted with liver and biliary diseases. The disease is even more of a problem outside the U.S. because of the prevalence of chronic hepatitis B and C that often results in fibrosis, and ultimately cirrhosis, of the liver.

Peter Traber, MD, Chief Medical Officer, Pro-Pharmaceuticals, Inc said, Collaborating with Mount Sinai represents an exciting opportunity to partner with a premier liver research program to develop a novel method for treating liver disease. We continue to develop and expand our product candidate pipeline. We believe our expertise in developing compounds that target Galectin
receptors offers opportunities to develop new paradigms for the treatment of cancer, fibrosis and inflammatory diseases.

Dr. Scott L. Friedman, Division Director of Liver Diseases, Mount Sinai School of Medicine said, The area of anti-fibrotics is generating great interest based on their potential to impact chronic liver disease and we look forward to working with Pro-Pharmaceuticals. The need for an effective therapeutic solution for liver fibrosis is acute, and this innovative project would certainly be vital and could significantly advance treatment in this critical area. The efficacy and safety of Pro- Pharmaceuticals’ approach appears to be unique and thus, these studies should be of the highest priorities.

About Mount Sinai Liver Diseases

A unique program, under the direction of Dr. Scott Friedman, the Division Director of Liver Diseases and world authority on liver fibrosis, has been established to facilitate the development of novel diagnostic methods and treatments of liver fibrosis. This program is supported through the generosity of the estate of Eva and Morris Feld. In partnership with key pharmaceutical companies, Dr. Friedman and his group monitor the development and testing of potential anti-fibrotic compounds
in cultured cells, in animal models of hepatic fibrosis, and ultimately in clinical trials of patients with chronic liver disease. Continued growth of this center will maintain Mount Sinai at the forefront of clinical testing for new anti-fibrotic compounds. In addition, Dr. Friedman and his colleagues are developing new methods for diagnosing fibrosis without the need to perform a liver biopsy, a relatively invasive procedure. Dr. Friedman has recently patented one such method, which is currently undergoing testing in animal models.

About Pro-Pharmaceuticals, Inc.

Pro-Pharmaceuticals, OTC: PRWP, is the leader in the field of Galectin therapeutics and is engaged in the discovery, development and commercialization of therapeutics that target Galectin receptors for advanced treatment of cancer and fibrosis. The Company is headquartered in Newton, Mass. Additional information is available at www.pro-pharmaceuticals.com.

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