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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
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      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WASHINGTON,
      DC 20549</strong></font></div>
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      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT PURSUANT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>TO
      SECTION 13 OR 15(D) OF THE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      EXCHANGE ACT OF 1934</strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      report (Date of earliest event reported): </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>January
      31, 2006</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>GlycoGenesys,
      Inc.</strong></font>&#160;</div>
    <div>
      <hr style="COLOR: black" align="left" noshade size="2" width="100%">
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      Name of Registrant as Specified in Its Charter)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Nevada</strong></font>&#160;</div>
    <div>
      <hr style="COLOR: black" align="left" noshade size="2" width="100%">
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
      or
      Other Jurisdiction</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of
      Incorporation)</font></div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><font size="2">0-26476</font></strong></div>
              </td>
              <td width="50%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><font size="2">33-0231238</font></strong></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td width="50%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(Commission
                  File Number)</font></div>
              </td>
              <td width="50%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
                  Employer Identification No.)</font></div>
              </td>
            </tr>
            <tr bgcolor="white">
              <td width="50%">&#160;</td>
              <td width="50%">&#160;</td>
            </tr>
            <tr bgcolor="white">
              <td width="50%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>31
                  St. James Avenue, Boston, Massachusetts</strong></font></div>
              </td>
              <td width="50%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<strong><font size="2">02116</font></strong></div>
              </td>
            </tr>
            <tr bgcolor="white">
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                  of Principal Executive Offices)</font></div>
              </td>
              <td width="50%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                  Code)</font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(617)
      422-0674</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <hr style="COLOR: black" align="left" noshade size="2" width="100%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
      Telephone Number, Including Area Code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Not
      Applicable</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <hr style="COLOR: black" align="left" noshade size="2" width="100%">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
      Name or Former Address, if Changed Since Last Report)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>see
      </em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
      Instruction A.2. below):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></div>
    <div><br>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item&#160;1.01.
      Entry into a Material Definitive Agreement.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="001"/><a name="002"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      February 1, 2006, GlycoGenesys, Inc. (the &#8220;Company&#8221;) entered into a severance
      agreement (the &#8220;Severance Agreement&#8221;) and consulting agreement (the &#8220;Consulting
      Agreement&#8221;) each approved by the Company&#8217;s independent directors, with Mr.
      Bradley J Carver in connection with his resignation as Interim
      Chairman,</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
      Executive Officer, President and Treasurer of the Company. Such resignation
      is
      described in Item 5.02 below. Under the Severance Agreement, Mr. Carver is
      entitled to receive one year&#8217;s salary paid $20,066.67 per month over a period of
      12 months and health benefits for one year, which are benefits provided pursuant
      to his employment agreement. However, the Company is prevented from making
      severance payments while in the bankruptcy proceeding described in Item 1.03
      below. In addition, the Severance Agreement provides for the continuation of
      certain obligations under Mr. Carver&#8217;s employment agreement dated September 12,
      2002 and mutual releases. Under the Consulting Agreement, Mr. Carver would
      be
      available full time to provide services to the Company. Mr. Carver will be
      paid
      for $14,000 per month for such services. Copies of the Severance Agreement
      and
      Consulting Agreement are attached hereto as Exhibits 10.1 and 10.2 to this
      Current Report on Form 8-K and incorporated herein by reference.</font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.02. Termination of a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      further described in Item 1.01 and 5.02, on January 31, 2006, Mr. Carver
      resigned as Interim Chairman, Chief Executive Officer, President and Treasurer
      of the Company. In connection with his resignation, his employment agreement
      dated September 12, 2002 with the Company was terminated.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.03 Bankruptcy or Receivership. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      February 2, 2006, the Company and its subsidiaries, SafeScience Products, Inc.
      and International Gene Group,&#160;Inc. (collectively, the "Debtors") filed
      voluntary petitions (the "Cases") under Chapter 11 of the United States
      Bankruptcy Code (the "Code") in the United States Bankruptcy Court for the
      District of Massachusetts (the "Bankruptcy Court"). The Company's case is
      No.&#160;06-10214, SafeScience Product,&#160;Inc.'s case is No.&#160;06-10216
      and International Gene Group&#160;Inc.'s case is No.&#160;06-10215. Debtors are
      continuing to manage their affairs as debtors in possession, including the
      continuation of the Company&#8217;s multiple myeloma clinical trial. Debtors elected
      to seek bankruptcy protection to preserve their assets for the benefit of
      creditors and stockholders and will evaluate the alternatives to maximize the
      value of their assets, including seeking financing or other restructuring that
      would enable the Debtors to emerge from bankruptcy. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      5.02 Departure of Director and Principal Officer; Appointment of Principal
      Officer</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      January 31, 2006, Bradley J Carver, the Company&#8217;s Interim Chairman, Chief
      Executive Officer, President and Treasurer gave notice of his intent to resign
      from those positions upon acceptance of the Board of Directors. The Board of
      Directors accepted Mr. Carver&#8217;s resignation. Mr. Carver remains a member of the
      Board of Directors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      January 31, 2006, the Board of Directors approved the appointment of Frederick
      E. Pierce II as Chief Executive Officer and President on an interim basis.
      Mr.
      Pierce remains Vice President, Business Development of the Company.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Frederick
      E. Pierce, II, 44, has served as the Company&#8217;s Vice President of Business
      Development since August 2002 and the Company&#8217;s Vice President of Finance and
      Investor Relations since June 1998. Prior to joining the Company, Mr. Pierce
      was
      at Lehman Brothers, where he was the New England private client services liaison
      to healthcare investment banking. In addition, Mr. Pierce had over seven
      additional years experience at Kidder Peabody and Merrill Lynch. Mr. Pierce
      received a B.S. in chemistry from Hampshire College. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      January 31, 2006, the Board of Directors approved the appointment of John W.
      Burns, Ph.D. as Chairman and Treasurer on an interim basis. Dr. Burns continues
      to serve as Senior Vice President and Chief Financial Officer of the Company.
      Dr. Burns remains a member of the Board of Directors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dr.
      Burns, 60,</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">has
      served as the Company&#8217;s Chief Financial Officer since January 2000, Senior Vice
      President since March&#160;2001, and has served as a Class I Director, whose
      term expires in 2008, since June 2002. Prior thereto, Dr. Burns was the
      CFO/Senior Vice President, Finance &amp; Business Operations for South Shore
      Hospital, a regional healthcare services provider based in South Weymouth,
      MA,
      from February 1993 to February 1999. Prior thereto, Dr. Burns was the Vice
      President/Treasurer and a subsidiary CFO/Vice President, Finance for Eastern
      Enterprises, a NYSE-listed company engaged in energy and marine transportation.
      Dr. Burns has also held corporate finance and treasury positions with
      Allied-Signal, Citicorp Investment Bank, and International Paper. Dr. Burns
      holds a Master of Business Administration in Finance from New York University
      and a Doctor of Philosophy degree in Mathematics from Stevens Institute of
      Technology. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      February 2, 2006, the Company issued a press release announcing the management
      changes described herein. A copy of the press release is attached hereto as
      Exhibit 99.1</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      8.01 Other Events. </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      January 31, 2006, the Company laid off 8</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">employees
      across its administrative, laboratory and pre-clinical areas. The Company
      undertook such lay offs to conserve cash. The Company intends to continue
      efforts, including clinical trials, to commercialize GCS-100. The Company
      continues to clinically test its cancer compound, GCS-100 in bloodborne cancer.
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item&#160;9.01.
      Financial Statements and Exhibits</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)
      Exhibits</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%">

          <tr bgcolor="white">
            <td width="6%"><font size="2">10.1</font></td>
            <td width="94%"><font size="2">Severance Agreement dated February 1,
              2006
              between the Company and Mr. Carver.</font></td>
          </tr>
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            <td width="6%"><font size="2">10.2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></td>
            <td width="94%"><font size="2">Consulting Agreement dated February
              1, 2006
              between the Company and Mr. Carver.</font></td>
          </tr>
          <tr bgcolor="white">
            <td width="6%"><font size="2">99.1</font></td>
            <td width="94%"><font size="2">Press Release dated February 3,
              2006</font></td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">Date:&#160;February
              3, 2006</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">/s/&#160;John
              W.
              Burns</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="FONT-FAMILY: " size="1">&#160;</font></td>
            <td align="left">
              <hr style="COLOR: black" align="left" noshade size="2" width="80%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">John
                W. Burns</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Senior
                Vice President and Chief Financial Officer</font></div>
            </td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">&#160;</font></td>
            <td>&#160;</td>
          </tr>

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{"company-data": {"conformed-name": "GLYCOGENESYS  INC", "cik": "0000946661", "assigned-sic": "2836", "irs-number": "330231238", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26476", "film-number": "06575568"}, "business-address": {"street1": "31 ST. JAMES AVENUE", "street2": "8TH FLOOR", "city": "BOSTON", "state": "MA", "zip": "02116", "phone": "6174220674"}, "mail-address": {"street1": "31 ST JAMES AVE", "street2": "8TH FL", "city": "BOSTON", "state": "MA", "zip": "02116"}, "former-company": [{"former-conformed-name": "GLYCOGENESY  INC", "date-changed": "20011107"}, {"former-conformed-name": "SAFESCIENCE INC", "date-changed": "19980401"}, {"former-conformed-name": "IGG INTERNATIONAL INC", "date-changed": "19950721"}]}
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
WASHINGTON,
      DC 20549
FORM
      8-K
CURRENT
      REPORT PURSUANT
TO
      SECTION 13 OR 15(D) OF THE
SECURITIES
      EXCHANGE ACT OF 1934
Date
      of
      report (Date of earliest event reported):
January
      31, 2006
GlycoGenesys,
      Inc.
(Exact
      Name of Registrant as Specified in Its Charter)
Nevada
(State
      or
      Other Jurisdiction
of
      Incorporation)
0-26476
33-0231238
(Commission
                  File Number)
(IRS
                  Employer Identification No.)
31
                  St. James Avenue, Boston, Massachusetts
02116
(Address
                  of Principal Executive Offices)
(Zip
                  Code)
(617)
      422-0674
(
Registrant's
      Telephone Number, Including Area Code)
Not
      Applicable
(Former
      Name or Former Address, if Changed Since Last Report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (
see
General
      Instruction A.2. below):
o
Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)
o
Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)
o
Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))
o
Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))
Item 1.01.
      Entry into a Material Definitive Agreement.
On
      February 1, 2006, GlycoGenesys, Inc. (the "Company") entered into a severance
      agreement (the "Severance Agreement") and consulting agreement (the "Consulting
      Agreement") each approved by the Company's independent directors, with Mr.
      Bradley J Carver in connection with his resignation as Interim
      Chairman,
Chief
      Executive Officer, President and Treasurer of the Company. Such resignation
      is
      described in Item 5.02 below. Under the Severance Agreement, Mr. Carver is
      entitled to receive one year's salary paid $20,066.67 per month over a period of
      12 months and health benefits for one year, which are benefits provided pursuant
      to his employment agreement. However, the Company is prevented from making
      severance payments while in the bankruptcy proceeding described in Item 1.03
      below. In addition, the Severance Agreement provides for the continuation of
      certain obligations under Mr. Carver's employment agreement dated September 12,
      2002 and mutual releases. Under the Consulting Agreement, Mr. Carver would
      be
      available full time to provide services to the Company. Mr. Carver will be
      paid
      for $14,000 per month for such services. Copies of the Severance Agreement
      and
      Consulting Agreement are attached hereto as Exhibits 10.1 and 10.2 to this
      Current Report on Form 8-K and incorporated herein by reference.
Item
      1.02. Termination of a Material Definitive Agreement.
As
      further described in Item 1.01 and 5.02, on January 31, 2006, Mr. Carver
      resigned as Interim Chairman, Chief Executive Officer, President and Treasurer
      of the Company. In connection with his resignation, his employment agreement
      dated September 12, 2002 with the Company was terminated.
Item
      1.03 Bankruptcy or Receivership.
On
      February 2, 2006, the Company and its subsidiaries, SafeScience Products, Inc.
      and International Gene Group, Inc. (collectively, the "Debtors") filed
      voluntary petitions (the "Cases") under Chapter 11 of the United States
      Bankruptcy Code (the "Code") in the United States Bankruptcy Court for the
      District of Massachusetts (the "Bankruptcy Court"). The Company's case is
      No. 06-10214, SafeScience Product, Inc.'s case is No. 06-10216
      and International Gene Group Inc.'s case is No. 06-10215. Debtors are
      continuing to manage their affairs as debtors in possession, including the
      continuation of the Company's multiple myeloma clinical trial. Debtors elected
      to seek bankruptcy protection to preserve their assets for the benefit of
      creditors and stockholders and will evaluate the alternatives to maximize the
      value of their assets, including seeking financing or other restructuring that
      would enable the Debtors to emerge from bankruptcy.
Item
      5.02 Departure of Director and Principal Officer; Appointment of Principal
      Officer
On
      January 31, 2006, Bradley J Carver, the Company's Interim Chairman, Chief
      Executive Officer, President and Treasurer gave notice of his intent to resign
      from those positions upon acceptance of the Board of Directors. The Board of
      Directors accepted Mr. Carver's resignation. Mr. Carver remains a member of the
      Board of Directors.
On
      January 31, 2006, the Board of Directors approved the appointment of Frederick
      E. Pierce II as Chief Executive Officer and President on an interim basis.
      Mr.
      Pierce remains Vice President, Business Development of the Company.
Frederick
      E. Pierce, II, 44, has served as the Company's Vice President of Business
      Development since August 2002 and the Company's Vice President of Finance and
      Investor Relations since June 1998. Prior to joining the Company, Mr. Pierce
      was
      at Lehman Brothers, where he was the New England private client services liaison
      to healthcare investment banking. In addition, Mr. Pierce had over seven
      additional years experience at Kidder Peabody and Merrill Lynch. Mr. Pierce
      received a B.S. in chemistry from Hampshire College.
On
      January 31, 2006, the Board of Directors approved the appointment of John W.
      Burns, Ph.D. as Chairman and Treasurer on an interim basis. Dr. Burns continues
      to serve as Senior Vice President and Chief Financial Officer of the Company.
      Dr. Burns remains a member of the Board of Directors.
2
Dr.
      Burns, 60,
has
      served as the Company's Chief Financial Officer since January 2000, Senior Vice
      President since March 2001, and has served as a Class I Director, whose
      term expires in 2008, since June 2002. Prior thereto, Dr. Burns was the
      CFO/Senior Vice President, Finance & Business Operations for South Shore
      Hospital, a regional healthcare services provider based in South Weymouth,
      MA,
      from February 1993 to February 1999. Prior thereto, Dr. Burns was the Vice
      President/Treasurer and a subsidiary CFO/Vice President, Finance for Eastern
      Enterprises, a NYSE-listed company engaged in energy and marine transportation.
      Dr. Burns has also held corporate finance and treasury positions with
      Allied-Signal, Citicorp Investment Bank, and International Paper. Dr. Burns
      holds a Master of Business Administration in Finance from New York University
      and a Doctor of Philosophy degree in Mathematics from Stevens Institute of
      Technology.
On
      February 2, 2006, the Company issued a press release announcing the management
      changes described herein. A copy of the press release is attached hereto as
      Exhibit 99.1
Item
      8.01 Other Events.
On
      January 31, 2006, the Company laid off 8
employees
      across its administrative, laboratory and pre-clinical areas. The Company
      undertook such lay offs to conserve cash. The Company intends to continue
      efforts, including clinical trials, to commercialize GCS-100. The Company
      continues to clinically test its cancer compound, GCS-100 in bloodborne cancer.
Item 9.01.
      Financial Statements and Exhibits
(c)
      Exhibits
10.1
Severance Agreement dated February 1,
              2006
              between the Company and Mr. Carver.
10.2
Consulting Agreement dated February
              1, 2006
              between the Company and Mr. Carver.
99.1
Press Release dated February 3,
              2006
3
SIGNATURES
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized.
Date: February
              3, 2006
By:
/s/ John
              W.
              Burns
John
                W. Burns
Senior
                Vice President and Chief Financial Officer
4