What is GlycoMimetics?
GlycoMimetics, Inc. is a clinical-stage biotechnology firm dedicated to the discovery and development of innovative glycomimetic drugs aimed at addressing critical unmet medical needs. The company's lead candidates include rivipansel, a pan-selectin antagonist currently in Phase III trials for sickle cell disease, and GMI-1271, an E-selectin antagonist targeting acute myeloid leukemia and other hematologic cancers. GlycoMimetics is also exploring GMI-1359, a dual E-selectin and CXCR4 inhibitor, alongside galectin-3 and galectin-9 inhibitors. The company's strategic collaborations, including a notable R&D agreement with Pfizer Inc., highlight its commitment to advancing therapeutic solutions.
How much funding has GlycoMimetics raised?
GlycoMimetics has raised a total of $288.8M across 7 funding rounds:
Series A
$9.6M
Series B
$15.4M
Series C
$38M
Stock Offering
$57.4M
Corporate Investment
$20M
Stock Offering
$20M
Stock Offering
$128.4M
Series A (2004): $9.6M with participation from Alliance Technology Ventures, New Enterprise Associates, PTV Sciences, Novartis Venture Fund, Maryland Department of Business and Economic Development, and Anthem Capital Management
Series B (2006): $15.4M led by Anthem Capital Management, Alliance Technology Ventures, New Enterprise Associates, PTV Sciences, Novartis Venture Fund, and Maryland Department of Business and Economic Development
Series C (2009): $38M supported by Alliance Technology Ventures, New Enterprise Associates, Genzyme Ventures, Novartis Venture Fund, and Anthem Capital
Stock Issuance/Offering (2014): $57.4M featuring Undisclosed
Corporate Investment (2015): $20M backed by Pfizer Inc.
Stock Issuance/Offering (2016): $20M with participation from Undisclosed
Stock Issuance/Offering (2018): $128.4M led by Undisclosed
Key Investors in GlycoMimetics
Pfizer Inc.
Pfizer Inc. is a major biopharmaceutical company with a global presence, focusing on the research, development, and manufacturing of innovative medicines and vaccines across various therapeutic areas, including oncology and internal medicine.
Alliance Technology Ventures
Alliance Technology Ventures (ATV) is a venture capital firm that invests in private companies within the semiconductor, communication component, and life science industries, offering both financial backing and hands-on guidance.
New Enterprise Associates
New Enterprise Associates (NEA) is a prominent venture capital firm established in 1977, dedicated to supporting entrepreneurs in building successful businesses across various sectors.
What's next for GlycoMimetics?
The recent major strategic investment positions GlycoMimetics to accelerate the development and potential commercialization of its promising drug candidates. With a robust pipeline and a history of significant capital raises, the company is poised for continued growth. This funding infusion is expected to support ongoing clinical trials, further research initiatives, and the expansion of its operational capabilities, reinforcing its trajectory in the competitive biopharmaceutical landscape.
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