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Galectin Therapeutics Raises Capital Through Conversion of Convertible Notes

PUBLIC · GALTJul 31, 2026•8 days ago

Amount Raised

$81 Million

Round Type

Series A

NorcrossBiotechnologyHealthcareHealth CareTherapeutics

Investors

Richard E. Uihlein

Description

On July 31, 2026, Galectin Therapeutics Inc. issued 34,376,167 shares of common stock to Richard E. Uihlein, the Company's Chairman, as part of the conversion of outstanding convertible promissory notes. This event consolidates the Company's outstanding credit facilities into equity

Company Information

Company

GALECTIN THERAPEUTICS INC

Location

Norcross, Georgia, United States

About

Galectin Therapeutics is dedicated to developing novel therapies to improve the lives of patients with chronic liver disease and cancer. Galectin’s lead drug belapectin (formerly known as GR-MD-02) is a carbohydrate-based drug that inhibits the galectin-3 protein, which is directly involved in multiple inflammatory, fibrotic, and malignant diseases, for which it has Fast Track designation by the U.S. Food and Drug Administration. The lead development program is in non-alcoholic steatohepatitis (NASH) with cirrhosis, the most advanced form of NASH-related fibrosis.

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Based on industry data
Typical timeline to Series B
Series A companies typically raise their next round in 10-18 months
Monthly burn rate benchmark
47% of Series A startups spend $400k or more per month on operations
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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