GlycoMimetics - Backed by NEA, Anthem, MedImmune - Raises $54.3M - CBL
By Citybizlist Staff
GAITHERSBURG , Md. -- Pharmaceuticals company GlycoMimetics has raised a total of $54.29 million in recent weeks through mixed offerings, according to two Reg D filings with the U.S. Securities and Exchange Commission.
That includes the $38 million raised near the end of October, which Citybizlist reported.
Principals named in the filings are: director and CEO Rachel King, director and chief scientific officer John Magnani; Helen Thackray, vice president of drug development; Chairman James Barrett (of New Enterprise Associates, Baltimore and Chevy Chase, Md.); and directors Michael Henos (Alliance Technology Ventures, Sarasota, Fla.), William Gust (Anthem Capital Management, Baltimore), Franklin Top (MedImmune Ventures Inc., Gaithersburg, Md.) and John Baldwin. From the amount raised, an estimated $38,413 will be used for payments to at least one of those principals.
Gaithersburg-based GlycoMimetics is developing technology to make drugs that treat inflammation, cancer and other infectious diseases. The company recently completed Phase 1 clinical trials for a lead compound -- an acute anti-inflammatory agent.
Reg D filing: http://tinyurl.com/y8euy8m
Reg D filing: http://tinyurl.com/ycoh3fc
Also at Citybizlist, see:
NEA Joins $38M Round in Gaithersburg-Based GlycoMimetics
Bios from GlycoMimetics' Web site:
Rachel K. King, Chief Executive Officer
Before founding GlycoMimetics, Mrs. King was an Executive in Residence at New Enterprise Associates (NEA), a major venture capital firm with investments in biotechnology. Prior to joining NEA, Mrs. King was a Senior Vice President of Novartis Corporation. Before joining Novartis, Mrs. King spent ten years with Genetic Therapy, Inc. (GTI) from the company's startup phase, through its IPO and later acquisition by Novartis. At GTI, she held various roles, including serving as the company's CEO. Mrs. King also worked previously at ALZA Corporation in Palo Alto, California and at Bain and Company in Boston. She received her B.A degree from Dartmouth College and her MBA from Harvard Business School. Mrs. King currently serves on the Boards of Directors of MDBio and of the Biotechnology Industry Association (BIO), where she chairs the Emerging Companies Governing Body. She also serves on the Dean's Council of the Harvard School of Public Health and is on the Board of Visitors of the University of Maryland Biotechnology Institute.
John Magnani, Ph.D., Vice President and Chief Scientific Officer
John Magnani is an expert in carbohydrate biology having identified and characterized many carbohydrate tumor antigens and developed fundamental technology for the identification of functional carbohydrate epitopes. Dr. Magnani is the discoverer of Sialyl Lewisa and its functions. He was the first to identify the binding domain to the selectins common to both Sialyl Lewisa and Sialyl Lewisx and used this information to develop potent selectin inhibitors. Prior to joining GlycoMimetics, Dr. Magnani founded and led GlycoTech Corporation as its President and CEO. Previously, he helped co-found the U.S. subsidiary of BioCarb and became its Vice President of Research. Dr. Magnani received his Ph.D. from Princeton University and then joined the Laboratory of Biological Pharmacology of the National Institute of Arthritis, Diabetes and Digestive and Kidney Diseases (NIADDK) of the National Institutes of Health. He remained at the NIH for ten years, finally serving as a tenured Research Chemist.
Helen Thackray, MD, FAAP, Vice President of Drug Development
Dr. Thackray joined GlycoMimetics in 2006. Previously, she was Vice President of Clinical Product Development at Biosynexus, Inc. Prior to working at Biosynexus, Dr. Thackray served as a Medical Genetics Fellow at the National Human Genome Research Institute of the National Institutes of Health. Concurrent to her position at GlycoMimetics, Dr. Thackery holds an appointment as Assistant Clinical Professor of Pediatrics at the George Washington University School of Medicine and is a practicing board-certified hospital-based pediatrician. She completed a pediatrics residency at Children's National Medical Center in Washington, D.C., followed by a year as Pediatric Chief Resident and Adjunct Instructor in Pediatrics. Dr. Thackray received her B.S from Stanford University and her M.D. from George Washington University School of Medicine. She is a member of the Institutional Review Board of the National Center for Healthcare Statistics, and is a Fellow of the American Academy of Pediatrics.
Board of Directors
M. James Barrett, Ph.D., Chairman of the Board of Directors
Dr. Barrett is currently a General Partner with the venture capital firm New Enterprise Associates, GlycoMimetics, Inc.'s lead investor. He founded Sensors for Medicine and Science, Inc. in 1997, and serves as Chairman of its board. In 1987, he founded Genetic Therapy, Inc. (GTI) which was sold in August of 1995 to Swiss pharmaceutical giant Sandoz AG (now Novartis) for $300-million. He continued to serve as GTI's CEO and as a Director through June 1996. From 1982 to July of 1987, Dr. Barrett served as President of Life Technologies, Inc. (now part of Invitrogen) and its predecessor, Bethesda Research Laboratories. Prior to 1982, he was employed at SmithKline Beecham Corporation for 13 years, where he held a variety of positions, including President of its In Vitro Diagnostics Division and President of SmithKline Clinical Laboratories. Dr. Barrett was a Director of MedImmune, Inc. from 1988 until its acquisition by AstraZeneca in 2007.
Michael Henos, Director
Mr. Henos is founder and managing general partner of Alliance Technology Ventures, a lead investor in GlycoMimetics, Inc. Prior to ATV, he was a general partner with Aspen Venture Partners where he was based in Menlo Park, CA. Prior to Aspen he was vice president of 3i Ventures in Newport Beach, CA. From 1984 to 1986 he was a health care consultant with Ernst & Young, specializing in venture financing of start-up medical technology companies. Prior to 1984 he served in a variety of management positions with Science Applications, Inc., the Revlon Healthcare Group and co-founded Pro Med Technologies, where he also served as its Chief Executive Officer.
William Gust, Director
Mr. Gust is General Managing Partner for Anthem Capital Management. He has 40 years of business experience with a strong emphasis on venture capital investing and the development of small rapidly growing businesses. During the past 25 years, he has invested successfully in a broad range of start-up and early stage companies all over the United States, including such companies as Apple Computer, Samna (Lotus Corporation's word processor), HealthSouth and Chuck E. Cheese.
John J. Baldwin, Ph.D., Director
Dr. Baldwin co-founded Vitae Pharmaceuticals, Inc. in May 2001 and currently serves as the company's President and Chief Scientific Officer. Prior to that, he spent nine years at Pharmacopeia, Inc., where he was a co-founder and served as Chief Scientific and Technology Officer. Prior to Pharmacopeia, Dr. Baldwin was a Distinguished Senior Scientist at Merck & Co., where he spent 33 years in various scientific and management positions.
Franklin H. Top, Jr., M.D., Director
Dr. Top is Senior Vice President of MedImmune, Inc.'s biotechnology venture capital affiliate, MedImmune Ventures, Inc. Dr. Top joined MedImmune in June 1988 as Executive Vice President and was a member of its Board of Directors from 1988 through 2004. He became MedImmune's Medical Director in 1990, and most recently served as acting head of Medical Affairs. From 1987 to 1988, Dr. Top served as Senior Vice President for Clinical and Regulatory Affairs at Praxis Biologics. Prior to 1987, Dr. Top served for 22 years in the U.S. Army Medical Research and Development Command, where he was appointed Director, Walter Reed Army Institute of Research in 1983.