PROBLEM TO BE SOLVED: To provide an optimal glycosaminoglycan structure producing anti-angiogenic activity on the basis of heparanase inhibition and/or FGF growth factor inhibition mechanism, and to provide a medicinal substance which has anti-angiogenic activity substantially free from typical adverse effect of a heparin derivative, for example, anti-angiogenic activity.SOLUTION: A partially desulfated glycosaminoglycan derivative, in particular, heparin, above all, a compound of formula (I) (in the formula, U, R and Rgroups have the meaning described in specification) is provided. The glycosaminoglycan derivative has anti-angiogenic activity and heparanase inhibition activity and has no anticoagulant activity.