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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