By Elaine Rigoli
Tampa, Fla., June 23 - GlycoMimetics, Inc. (GMI) has completed its series B financing, attracting an additional $15.4 million to advance its research programs.
The round was led by venture firm New Enterprise Associates, which was joined by all other current GMI venture investors, including Alliance Technology Ventures, Anthem Capital Management, The Novartis Venture Fund, PTV Sciences and The Maryland Department of Business and Economic Development.
GMI is developing drug therapies based on specific roles played by certain carbohydrates. Its lead drug candidates - an anti-inflammatory and an anti-infective - are in preclinical development.
GMI was founded in 2003 and raised a total of $9.6 million in its series A financing.
Based in Gaithersburg, Md., GMI is a privately held firm that is developing glycobiology-based therapies for a broad range of indications.
| Issuer: | GlycoMimetics, Inc.
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| Issue: | Series B financing
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| Amount: | $15.4 million
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| Investors: | New Enterprise Associates, Alliance Technology Ventures, Anthem Capital Management, The Novartis Venture Fund, PTV Sciences and The Maryland Department of Business and Economic Development
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| Announcement date: | June 23
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