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Saturday, October 05, 2013 11:24:56 AM
Orphan disease biotech GlycoMimetics files for a $86 million IPO
By Renaissance Capital, October 04, 2013, 04:17:59 PM EDT
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GlycoMimetics, a clinical-stage biotech developing treatments for orphan diseases, filed on Friday with the SEC to raise up to $86 million in an initial public offering. The Gaithersburg, MD-based company, which was founded in 2003 and booked $12 million in collaboration and grant revenue for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol GLYC. GlycoMimetics initially filed confidentially on August 21, 2013. Jefferies and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.
PLATFORM
GlycoMimetics is focused on discovering and developing novel medicines based on an understanding of the role carbohydrates play in important biological processes.
Almost all human proteins that are expressed within the cell are modified by the post-translational addition of complex carbohydrates to the protein surface. Many of these carbohydrate structures affect the functions of these proteins and their interactions with other molecules.
One key to understanding many complex biological interactions, therefore, is to understand the functional role that specific carbohydrates play. This field of study is known as glycobiology.
The structures of carbohydrates account for much of the complexity and functionality of proteins and protein activity. As the structures and roles played by specific carbohydrates are defined, GlycoMimetics is designing specific molecules that can act on these biological processes.
The term “glycomimetics” refers to molecules that mimic the structure and activity of carbohydrates. GlycoMimetics is discovering and developing compounds that are mimetics of naturally occurring carbohydrates (glycomimetics), and not natural carbohydrates themselves. Our product candidates are rationally designed to function more like traditional therapeutics (e.g., exhibiting good bioavailability and pharmacokinetics) and to enhance the key biological activity over the native carbohydrate structures.
By delivering on highly differentiated product profiles, GlycoMimetics drug candidates have potential to address significant unmet medical needs. In addition to our lead drug candidate, which targets vaso-occlusive crisis in sickle cell disease, drugs in development include therapies for myeloma, pancreatic cancer, AML, other cancers, and AIDS.
http://www.glycomimetics.com/programs-pipeline/
By Renaissance Capital, October 04, 2013, 04:17:59 PM EDT
Vote up
GlycoMimetics, a clinical-stage biotech developing treatments for orphan diseases, filed on Friday with the SEC to raise up to $86 million in an initial public offering. The Gaithersburg, MD-based company, which was founded in 2003 and booked $12 million in collaboration and grant revenue for the 12 months ended June 30, 2013, plans to list on the NASDAQ under the symbol GLYC. GlycoMimetics initially filed confidentially on August 21, 2013. Jefferies and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.
PLATFORM
GlycoMimetics is focused on discovering and developing novel medicines based on an understanding of the role carbohydrates play in important biological processes.
Almost all human proteins that are expressed within the cell are modified by the post-translational addition of complex carbohydrates to the protein surface. Many of these carbohydrate structures affect the functions of these proteins and their interactions with other molecules.
One key to understanding many complex biological interactions, therefore, is to understand the functional role that specific carbohydrates play. This field of study is known as glycobiology.
The structures of carbohydrates account for much of the complexity and functionality of proteins and protein activity. As the structures and roles played by specific carbohydrates are defined, GlycoMimetics is designing specific molecules that can act on these biological processes.
The term “glycomimetics” refers to molecules that mimic the structure and activity of carbohydrates. GlycoMimetics is discovering and developing compounds that are mimetics of naturally occurring carbohydrates (glycomimetics), and not natural carbohydrates themselves. Our product candidates are rationally designed to function more like traditional therapeutics (e.g., exhibiting good bioavailability and pharmacokinetics) and to enhance the key biological activity over the native carbohydrate structures.
By delivering on highly differentiated product profiles, GlycoMimetics drug candidates have potential to address significant unmet medical needs. In addition to our lead drug candidate, which targets vaso-occlusive crisis in sickle cell disease, drugs in development include therapies for myeloma, pancreatic cancer, AML, other cancers, and AIDS.
http://www.glycomimetics.com/programs-pipeline/
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