BOSTON--(BUSINESS WIRE)--Oct. 24, 2005--GlycoGenesys, Inc. (Nasdaq: GLGS), a biotechnology company, today announced it has entered into a common stock purchase agreement with Fusion Capital Fund II, LLC, a Chicago-based institutional investor, whereby Fusion Capital has agreed to purchase up to $20.0 million of GlycoGenesys’ common stock over a 25 month period. GlycoGenesys has the right to control the timing and the amount of stock sold to Fusion Capital. A more detailed description of the transaction is set forth in GlycoGenesys’ report on Form 8-K, recently filed with the SEC.
