Galectin closes underwritten public offering of 1,333,361 units

Galectin Therapeutics Inc. (NASDAQ: GALT, GALTU, GALTW) today announced it has closed its underwritten public offering of 1,333,361 units (including 173,916 units that were offered and sold by Galectin pursuant to the exercise in-full of the underwriter's over-allotment option) at a price to the public of $9.00 per unit, with each unit consisting of two common voting shares, par value $0.001 per share (the "Common Stock") and one warrant to purchase one share of Common Stock. The offering was conducted pursuant to an effective shelf registration statement under the Securities Act of 1933, as amended, and all of the units in the offering were sold by Galectin.

Total net proceeds from the offering were approximately $10.5 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Galectin. Galectin intends to use the net proceeds from the offering to fund its research and development activities, for working capital and other general corporate purposes and possibly acquisitions of other companies, products or technologies, though no such acquisitions are currently contemplated.