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:4/20/2017)... , April 20, 2017 Eyevensys, ... the first non-viral gene expression technology that enables the ... eye to address a wide range of ophthalmic diseases, ... and Healthcare products Regulatory Agency (MHRA) to advance its ... ...
(Date:4/19/2017)... The Mobile X-Ray product segment is the most ... the forecast period Mobile X-Ray segment is the ... X-Ray devices market, which is estimated to be valued at ... CAGR of 7% over the forecast period. Mobile X-Ray segment ... US$ 100 Mn in 2017 over 2016. The segment,s revenue ...
(Date:4/19/2017)... 19, 2017 The Global Effective Microorganisms ... 2022 report has covered and analysed the potential of Global ... market size, shares and growth factors. The report identifies and ... opportunities in the global market. ... Browse 152 Tables and Figures, 6 Major Company Profiles, ...
Breaking Medicine Technology:
(Date:4/25/2017)... ... April 25, 2017 , ... ... in unveiling cutting-edge birth defects research related to Zika virus during pregnancy, as ... premier society for this important science. , The Teratology Society ...
(Date:4/25/2017)... (PRWEB) , ... April 25, 2017 , ... ... addition of predictive analytics to its patient care management module. Using this new ... before a patient has been initiated on continuous positive airway pressure (CPAP), oral, ...
(Date:4/25/2017)... ... April 25, 2017 , ... Amendia, Inc., designer, developer, ... strategic partnership with and platinum sponsorship of Global Spine Outreach (“GSO”), a charitable ... management of complex spine deformity cases, particularly in children. , GSO’s focus is ...
(Date:4/24/2017)... ... , ... The Santana Telehealth Project was honored with the 2017 ATA Humanitarian ... Association’s annual conference, on April 23 in Orlando, FL. , “I am proud that ... of the poor and underserved in other parts of the world,” said Jonathan Linkous, ...
(Date:4/24/2017)... ... April 24, 2017 , ... The bar for just about everything—apparel, ... inhabiting the rarified air of pop and film stardom.(1) Not to be left out ... the smile. Grins now run the gamut from being encrusted with jewels and precious ...
Breaking Medicine News(10 mins):