Galectin gets $60M cred­it line from bil­lion­aire chair; In­flam­ma­to­ry dis­ease biotech reach­es SPAC deal

The chair of Galectin Ther­a­peu­tics, bil­lion­aire and Jan. 6 pro-Trump ral­ly fi­nancier Richard Uih­lein, is of­fer­ing up $60 mil­lion in an un­se­cured cred­it fa­cil­i­ty to the biotech.

Al­most 15 years ago, Uih­lein be­gan in­vest­ing in the com­pa­ny. With his lat­est batch of fi­nan­cial sup­port, the largest in the com­pa­ny’s his­to­ry, Galectin can keep the lights on through 2024, which will be key as the biotech’s Phase IIb NAV­I­GATE tri­al is slat­ed to read out in mid-2024.

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