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GlycoMimetics has raised a total of $25-million in two rounds of financing. In both rounds, the syndicate of investors was led by New Enterprise Associates. Additional investors include Alliance Technology Ventures, Anthem Capital, the Novartis Venture Fund, PTV Sciences, and the State of Maryland.
New
Enterprise Associates
Founded in 1978, NEA has
grown to twelve partnerships managing $5-billion of capital. NEA concentrates
on early stage companies in the areas of information technology and healthcare,
investing in 20 to 30 new companies each year, and typically supporting
those companies through multiple rounds of financing. Since inception,
more than 135 NEA-funded companies have gone public. As of 2000, NEA had
financed companies whose total revenues exceeded $50-billion and whose
total market value exceeded $100-billion.
Alliance
Technology Ventures
Atlanta-based ATV was
founded in 1993 with venture partners in Boston, MA and Palo Alto, CA.
With over $250-million under management, ATV focuses its funding activity
on novel biopharmaceuticals, diagnostics and devices, and the semiconductor
industry, particularly those companies with applications for communication
components. ATV has provided seed financing for about one-third of the
companies in its portfolio and has led the first institutional round on
over three-fourths.
Anthem
Capital Management
Founded in 1994, Anthem
Capital Management, Inc. provides early-stage venture capital for
rapidly growing businesses exclusively in the Mid-Atlantic region. Anthem
focuses on those industries that comprise the core of the entrepreneurial
and emerging growth companies within that region - Software, Telecommunications,
Life Sciences/Medicine and Industrial Technology. Anthem brings over 100
years of combined business experience, half of which is focused on venture
capital investing and managing rapidly growing businesses.
The
Novartis Venture Fund
Novartis
has been funding new business projects that show exemplary entrepreneurial
spirit in future-oriented health science areas since 1996. With venture
capital of CHF-150 million and USD-100 million, the Novartis BioVenture
Fund focuses its investments in product- and platform-focused biotech,
pharmaceutical and healthcare companies at all stages, with an emphasis
on the United States. In 2002, the Novartis Venture Fund significantly
expanded its capital by CHF-50 million, further broadened its scope with
the growth of the Novartis BioVenture Fund, and heightened focus on the
growing number of exciting start-up ventures emerging from universities
in Switzerland.
PTV
Sciences, L.P.
PTV Sciences, L.P. was founded in 2003 on the principle of achieving lasting
financial success through the exploration of new frontiers. Our name and
symbol captures the legacy of the southwestern spirit and dates back to
the early successes of pioneers in oil and gas exploration. PTV is comprised
of experienced entrepreneurs and investors, and focuses on a limited number
of compelling investment opportunities in the life and material science
sectors. PTV, a venture fund based in Texas, plans to invest $1 million
to $4 million each in 15 companies in its first $60 million fund. With
the expertise of the managing directors working in PTV offices in Houston
and Austin, PTV is well positioned to capitalize on the opportunities
in our region.
Maryland Department of Business and Economic Development
DBED's mission is to attract new businesses, stimulate private investment and create jobs, encourage the expansion and retention of existing companies and provide businesses in Maryland with workforce training and financial assistance. The department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development, international trade and tourism. Because they are a major economic generator, the department also supports the arts, film production, sports and other special events.
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