08:32 AM EDT, 07/09/2025 (MT Newswires) -- Galectin Therapeutics ( GALT ) said Wednesday that it has obtained a $10 million unsecured line of credit from Richard Uihlein, chairman of the board and the company's largest individual shareholder.

The credit line will carry interest of 6.05% and can be used by the company until April 30, the company said. Uihlein has already lent $81 million to the company, it added.

The principal and interest must be paid by Sept. 30, 2026 and the repayment will be made through convertible promissory notes that can be converted into common stock at the closing price on the note date, but no lower than $3 per share.