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:4/28/2016)... , April 28, 2016   Acsis , a ... that leading IT market research and advisory firm IDC ... the IDC MarketScape: Worldwide Pharmaceutical Track and Trace Software ... report provides an assessment of the capabilities and business ... trace software market. Logo - http://photos.prnewswire.com/prnh/20160427/360791LOGO ...
(Date:4/28/2016)... , April 28, 2016 TapImmune,Inc. ... of innovative peptide and gene-based immunotherapeutics and vaccines for the ... be presenting at the 3rd Annual Growth Capital Expo ... th , 2016 at Caesars Palace in Las Vegas, Nevada.  ... on Wednesday, May 4 th by Dr. John ...
(Date:4/27/2016)... April 27, 2016  Hologic, Inc. (Nasdaq: ... results for the fiscal second quarter ended March ... of $0.24 increased 41.2%, and non-GAAP diluted EPS ... increased 5.8% on a reported basis, and 6.3% ... "We posted another good quarter, highlighted by 14.6% ...
Breaking Medicine Technology:
(Date:4/29/2016)... ... ... Reltok Nasal Products proudly announces that Boston Medical Products, Inc., a leading ... specialty, has added the KOTLER NASAL AIRWAY™ to its diverse product line. , A ... safety device secured by nasal surgeons onto the floor of the nasal passages, at ...
(Date:4/29/2016)... ... April 29, 2016 , ... Jvion, the market leader ... led by Eastside Partners, with participation from existing investor Martin Ventures. The ... accelerate its technology and product roadmap. , “Jvion is experiencing significant ...
(Date:4/29/2016)... ... April 29, 2016 , ... Regenerative Medicine Solutions (RMS) scored ... satisfaction survey, earning them second place for Tampa’s Best Places to Work. They were ... “This is a great accomplishment for our team,” says RMS Human Resources Manager Irene ...
(Date:4/29/2016)... ... April 29, 2016 , ... The infertility specialists at HRC Fertility/Orange County (HRC/OC) ... Daniel A. Potter -- are proud of the recent release of their 2014 in ... SART published the latest verified data for 375 U.S. member clinics. *Preliminary ...
(Date:4/29/2016)... ... April 29, 2016 , ... Natren, Inc. ... line of probiotics, Petbiotics ™, as they fondly call them. As animal ... groups networking for their non-profit organizations. Animal rescues across the nation face huge ...
Breaking Medicine News(10 mins):