Navigation Links
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., M.B.A., Co-Founder, Managing Partner, LifeTech Development Partners, an existing investor who also participated in this funding round.

Gliknik also announced today that the U.S. Patent & Trademark Office has issued a patent protecting the company's immunomodulator program.  Two compounds from this program are currently in clinical trials in advanced Head and Neck cancer and in advanced myeloma, both at the University of Maryland Baltimore. Gliknik exclusively licensed rights to this patent from the Mayo Foundation for Medical Education and Research and has additional patent applications pending on this program.

About the Stradomer™ Platform

Stradomers™ are recombinant drugs for autoimmune diseases. Gliknik's lead recombinant stradomer™, GL-2045, which is in preclinical development, has demonstrated robust efficacy in animal models of inflammation and autoimmunity and is expected to have clinical utility in a number of diseases.

About the Immunomodulator Platform

Gliknik's immunomodulators are peptide drugs that increase CD4, CD8, and antibody immune responses against targeted cancer epitopes with the goal of turning a cancer patient's immune system against his or her tumor.  Gliknik's lead immunomodulators, GL-0817 and GL-0810, are in clinical development.

About Gliknik Inc.

Founded in 2007, Gliknik is a biopharmaceuticals company creating new therapies for patients with cancer and immune disorders. Gliknik expertise is in modulation of the immune system to fight disease. Learn more at www.gliknik.com.


'/>"/>
SOURCE Gliknik Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. BD Announces Webcast of Annual Meeting of Shareholders
2. Odyssey Thera Announces U.S. Patent for Technologies Enabling Protein Interaction Screening and Directed Evolution
3. Dendreon Announces Webcast Presentation at J.P. Morgan Healthcare Conference
4. Stereotaxis Announces Expansion of Catheter Strategic Partnership
5. ImmunGene Announces Multi-Target R&D Collaboration With Cephalon Australia for Interferon Payload Technology
6. Mettler-Toledo International Inc. Announces Webcast of Presentation at J.P. Morgan Healthcare Conference
7. Kensey Nash Announces a Manufacturing Agreement with and Minority Investment in Orteq Sports Medicine
8. Centre Partners Announces Successful Realization of Investment in Kaz, Inc.
9. Veridex, LLC Announces Collaboration to Develop Next-Generation Circulating Tumor Cell (CTC) Technology with Massachusetts General Hospital
10. Lotus Pharmaceuticals Announces Approval of Reverse Stock Split
11. Cumberland Pharmaceuticals Announces Voluntary Recall of Acetadote® Vials
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... 2017   Divoti USA will engrave and ... standard of the latest FDA requirements, which stipulates new criteria regarding ... in need of Medical ID jewelry such as Medical ID Bracelets, ... engraved in terms of the new FDA requirements . ... Divoti offers this dark mark fiber ...
(Date:10/11/2017)... Oct. 11, 2017  Hill-Rom Holdings, Inc. ("Hill-Rom") (NYSE: ... facility in Las Piedras, Puerto Rico ... blades. Following ... facility sustained minor structural damage, temporary loss of power ... have been completed, manufacturing operations have resumed, and the ...
(Date:10/4/2017)... South Korea , Oct. 4, 2017  South ... its next-generation CPR training aide "cprCUBE" on Kickstarter. The ... chest compression during cardiac arrests with better efficiency compared ... It also offers real-time feedback on efficacy of the ... The crowdfunding campaign has a goal to raise $5,000. ...
Breaking Medicine Technology:
(Date:10/12/2017)... ... October 12, 2017 , ... IsoComforter, Inc. ( https://isocomforter.com ... the introduction of an innovative new design of the shoulder pad. The shoulder ... maximum comfort while controlling your pain while using cold therapy. By utilizing ice and ...
(Date:10/12/2017)... Maryland (PRWEB) , ... October 12, 2017 , ... ... magnetic drug delivery system that we intend to develop to enable prevention of ... can lead to severe hearing loss, especially in pediatric patients. For cisplatin, hearing ...
(Date:10/12/2017)... ... ... Leading pediatric oncology experts at Children’s National Health System will join ... International Society of Paediatric Oncology (SIOP) Oct. 12-15. Chaired by Jeffrey Dome, ... at Children’s National, and Stephen P. Hunger, M.D., Chief of the Division of ...
(Date:10/12/2017)... ... October 12, 2017 , ... Health Literacy Innovations (HLI), ... software tool, and the Cancer Patient Education Network (CPEN), an independent professional organization ... a new strategic alliance. , As CPEN’s strategic partner, HLI will help ...
(Date:10/12/2017)... ... October 12, 2017 , ... Farm Forward ... Berkeley, and other leading institutions in announcing the launch of the Leadership ... the way animals are raised for food. , Founding members of the Leadership ...
Breaking Medicine News(10 mins):