Exhibit 10.16
English Summary of a lease agreement dated November 11, 2024 (the “Lease”) by and between Galecto Biotech ApS (“Galecto”) and Symbion A/S (the “Landlord”)
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Leased Property: The Lease is for the purpose of office space, with its address: Ole Maaloes Vej 3, DK-2200 Copenhagen N, Denmark. |
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Term: The term started December 1, 2024 and will end on November 30, 2029. |
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Deposit: Galecto must provide a deposit equivalent to three months’ rent (DKK 25,160), excluding VAT for securing its obligations. |
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Permitted Use: The permitted use is for office space. |
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Sublease/Termination: Galecto is not permitted to sublease the property, but may terminate the lease at the beginning of a month with three months’ advance notice. |
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Rent: DKK 129,595 annually, including VAT, based on the rental area of approximately 350 square feet. |