GlycoMimetics - Top 20 Biotech VC Deals of 2009

Company: GlycoMimetics
Based: Gaithersburg, MD
Amount: $38.98 million

Investors: Genzyme Ventures, New Enterprise Associates, The Novartis Venture Fund, Anthem Capital and Alliance Technology Ventures

Scoop: The new investment is being used to fund a Phase II trial of GlycoMimetics' lead drug candidate--GMI-1070--in vaso-occlusive crisis of sickle cell disease. The compound is a glycomimetic inhibitor of E-, P- and L-selectins, and inhibits a key early step in the inflammatory process leading to leukocyte adhesion and recruitment to inflamed tissue. The company also intends to use proceeds to fund a Phase II study of GMI-1070 in a second clinical indication. 

Related Article:
GlycoMimetics lands $38M round to fund new trials