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Gliknik Announces Completion of Equity Financing
Date:1/5/2011

BALTIMORE, Jan. 5, 2010 /PRNewswire/ -- Gliknik Inc., a biopharmaceuticals company creating new cancer and immune disorder therapies, today announced an equity financing completed at a premium price. In the past seven months the company has raised $3.5 million in equity financing. Gliknik expects to use the funds to initiate a clinical program in autoimmune diseases for its lead recombinant candidate from its first-in-class stradomer™ platform.

"An infusion of investor funding highlights a growing vote of confidence as we continue to develop new therapies for patients with cancer and autoimmune/inflammatory diseases," said David S. Block, Gliknik President & Chief Executive Officer. "We now have increased flexibility to take our lead stradomer™, GL-2045, into initial clinical trials on our own or with a partner."

In addition to funding raised from this equity investment, Gliknik has received a total of more than $1 million of non-dilutive competitive grant funding in the last six months from the federal Qualified Therapeutic Discovery Project (QTDP), a U.S. Army subcontract through the Maryland Proof of Concept Alliance, and a State of Maryland Department of Business & Economic Development (DBED) Translational Research Award.

"Gliknik has demonstrated an exemplary level of productivity, resourcefulness, and capacity to innovate novel molecules with important therapeutic potential. We look forward to the company's future, and are delighted to continue to support the team," noted Joel B. Braunstein, M.D.,
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SOURCE Gliknik Inc.
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