GlycoMimetics, Inc. is developing small molecule drugs targeting areas of unmet clinical needs with a focus on  rare diseases. The Company's lead product, GMI-1070, is initially being developed for the treatment of vaso-occlusive crisis in sickle cell disease and has been granted Orphan Drug and Fast Track status by the U.S. Food and Drug Administration, two important designations that may allow for speedier delivery to the market. The company has completed Phase 1 clinical trials with the drug as well as a pilot study in patients with sickle cell disease.  A Phase 2 trial in vaso-occlusive crisis ("VOC") in sickle cell disease is now underway. GMI-1070 is also being evaluated in preclinical studies for use in other orphan indications (in certain blood cancers). One such study, combining GMI-1070 with Velcade® in a model of multiple myeloma, was selected for an oral presentation at the 2010 meeting of the American Society of Hematology (“ASH”).

GlycoMimetics has generated a pipeline of promising carbohydrate mimic (“glycomimetic”) compounds representing an important new class of drugs. In addition to GMI-1070, GlycoMimetics has also designed and synthesized compounds that are antagonists of both E-selectin and CXCR4, and which are being evaluated in preclinical models. GlycoMimetics has also identified a family of high affinity, small molecule E-selectin specific anti-inflammatory drugs which are currently being optimized for oral availability.

In late 2009, GlycoMimetics closed a $38 million venture round led by New Enterprise Associates and with new investor Genzyme Ventures. Other investors include Alliance Technology Ventures, Anthem Capital, The Novartis Venture Fund, PTV Sciences, and the State of Maryland.