Galectin Therapeutics Inc. Secures $10 Million Credit Line to Fund Expansion Efforts Through 2026
Reuters
Jul 09
<a href="https://laohu8.com/S/GALT">Galectin Therapeutics Inc</a>. Secures $10 Million Credit Line to Fund Expansion Efforts Through 2026
Galectin Therapeutics Inc., a leader in the development of galectin-3-targeted therapeutics, has announced a new $10 million unsecured line of credit from Richard E. Uihlein, the company's Chairman and largest individual stockholder. This financial boost is expected to cover projected expenditures through June 2026, allowing Galectin to focus on advancing its MASH cirrhosis program, particularly the ongoing NAVIGATE trial. The credit facility extension is complemented by the extension of maturity dates on existing convertible notes and lines of credit from Uihlein, totaling $81 million. The company is actively preparing to present data to the FDA and is seeking partnerships to support the further development and commercialization of its key therapeutic, belapectin.
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