NICEVILLE, Fla., Nov. 4, 2013 (GLOBE NEWSWIRE) -- Rod D. Martin, Co-Founder and Managing Member of 10X Capital Management, LLC, whose 10X Fund is the largest shareholder in Galectin Therapeutics (Nasdaq:GALT), today issued the following statement:
"Friday, November 1st, the 10X Fund exercised warrants for another 200,000 shares in Galectin Therapeutics. These warrants were not due to expire until 2019. Including our October 10 warrant exercise, this increases our holdings by a total of 388,000 since the first of October."
About 10X Capital Management
10X Capital Management and its biotech-focused 10X Fund were co-founded by James C. Czirr and Rod D. Martin. The Fund, which is based in Niceville, Florida, is especially noted for its restructuring and turnaround of Galectin Therapeutics (Nasdaq:GALT), where Czirr serves as Executive Chairman and Martin as Vice Chairman of the Board.
About Galectin Therapeutics
Galectin Therapeutics (Nasdaq:GALT) is developing promising carbohydrate-based therapies for the treatment of fibrotic liver disease and cancer based on the Company's unique understanding of galectin proteins, key mediators of biologic function. We are leveraging extensive scientific and development expertise as well as established relationships with external sources to achieve cost effective and efficient development. We are pursuing a clear development pathway to clinical enhancement and commercialization for our lead compounds in liver fibrosis and cancer. Additional information is available at www.galectintherapeutics.com.
CONTACT: James C. Czirr (208) 265-0643 or Rod D. Martin (415) 685-3488Source: 10X Fund