Lease Agreement between Galecto Biotech ApS and Symbion A/S for Office Space in Copenhagen
Galecto Biotech ApS and Symbion A/S have entered into a lease agreement for office space located at Ole Maaloes Vej 3, Copenhagen, Denmark. The lease runs from December 1, 2024, to November 30, 2029. Galecto must pay an annual rent of DKK 129,595 (including VAT) and provide a deposit equal to three months’ rent. The space is to be used as an office, and subleasing is not allowed. Galecto may terminate the lease with three months’ notice at the start of any month.
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”)
• | Leased Property: The Lease is for the purpose of office space, with its address: Ole Maaloes Vej 3, DK-2200 Copenhagen N, Denmark. |
• | Term: The term started December 1, 2024 and will end on November 30, 2029. |
• | Deposit: Galecto must provide a deposit equivalent to three months’ rent (DKK 25,160), excluding VAT for securing its obligations. |
• | Permitted Use: The permitted use is for office space. |
• | 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. |
• | Rent: DKK 129,595 annually, including VAT, based on the rental area of approximately 350 square feet. |
