10X Fund Issues Statement on Sale of Shares, Bullish Outlook Regarding Galectin Therapeutics

10X Fund Issues Statement on Sale of Shares, Bullish Outlook Regarding
Galectin Therapeutics

NICEVILLE, Fla., Oct. 17, 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:

"Monday and Tuesday October 7th and 8th, the 10X Fund sold what we consider a
small number of shares in Galectin Therapeutics. These are the first shares we
have sold in four years, and we sold into a strong market. These were shares
the Fund accepted in lieu of a cash dividend earned by the Series B
Preferredshares the Fund holds. Moreover, we used $900,000 of the proceeds of
the sale to exercise warrants for 300,000 additional shares in Galectin,
shares that are subject to a lock-up agreement, thus increasing the Fund's net
holding by 188,000 shares while increasing Galectin's cash balance as it
conducts its clinical trials.

"We remain bullish on this Company, its science and its management team, and
we intend to continue exercising warrants and accumulating
shares.Importantly, neither my partner Jim Czirr nor I have sold any of our
personal holdings and neither of us has any plan to do so."

About 10X Capital Management

10X Capital Management and its biotech-focused10X Fundwere 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.

AboutGalectin 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

CONTACT: James C. Czirr
         (208) 265-0643
         Rod D. Martin
         (415) 685-3488
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