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Could be done but where does it lead? The only free hydroxyl group is on carbon 2. That would be removed by a dehydration. If you remember the target is lactate which has a hydroxyl group on carbon 2 so it may not be a good idea to remove it now.
If you want to get access to a hydroxyl group on carbon 3 you'll have to do something about the phosphate group.
Author: Jon Maber
j.r.maber@leeds.ac.uk
Dept Biochemistry & Molecular Biology, The University of Leeds, U.K.