On April 30, 2012, Galectin Therapeutics Inc. (the "Company") entered into a five-year consulting agreement having an effective date of April 11, 2012 (the "Agreement") with Scott L. Friedman, M.D., Professor of Medicine, Chief of the Division of Liver Disease and Dean of Therapeutic Discovery at the Mount Sinai School of Medicine. Under the Agreement, Dr. Friedman will advise the Company on its scientific programs, clinical trials and the landscape of therapies for liver fibrosis. In addition to payment for past consulting services, the Agreement provides that Dr. Friedman will be paid consulting fees up to $36,750 for 2012 and up to $25,000 per year for the term of the Agreement. Additionally, Dr. Friedman is entitled to equity compensation, subject to approval of the Company's Board of Directors, comprised of 7,000 shares of the Company's common stock and stock options to purchase 50,000 shares of the common stock, 20,000 of which vest as of the grant date and 6,000 on each of the five anniversaries of the grant date provided the Agreement is then in effect. The Agreement contains customary non-disclosure, trade secret, non-solicitation and work product protective provisions.

The foregoing description of the terms of the Agreement does not purport to be complete and is subject, and qualified in its entirely by reference, to the Agreement, a complete copy of which is herewith included as Exhibit 10.1 and is incorporated herein by reference.

(d) Exhibits

10.1    Consulting Agreement between Galectin Therapeutics Inc. and Scott L.
        Friedman, M.D., dated April 30, 2012.

99.1    Press Release of Galectin Therapeutics Inc., dated May 1, 2012.