Carbohydrate mimics (“glycomimetic” compounds) represent an important new class of drugs, and GlycoMimetics, Inc. is positioned to lead this promising field. GlycoMimetics has a specialized platform technology which is producing first-in-class proprietary drug candidates with an initial focus on inflammation, cancer, and infectious disease. The Company is achieving key milestones in advancing its programs. Our lead compound, an acute anti-inflammatory agent, recently completed Phase 1 clinical trials, and GMI has also discovered an exciting pipeline of follow-on opportunities.

GlycoMimetics was founded through the acquisition of assets and expertise of a predecessor company, GlycoTech. GlycoTech developed technology to identify and assay carbohydrate mimics initially through a collaboration with Ciba-Geigy (later Novartis), and then independently. In addition, GlycoTech’s assay capabilities were contracted to Wyeth over a two year period. Assets acquired from GlycoTech include key intellectual property rights, to which GMI has added substantially since its founding. The company currently owns or has rights to 17 issued U.S. patents as well as additional pending patent applications.

GlycoMimetics has raised a total of $63 million in three rounds of venture financing. The rounds were led by New Enterprise Associates with participation from Genzyme Ventures, Alliance Technology Ventures, Anthem Capital, PTV Sciences, the Novartis Venture Fund, and the State of Maryland.