GlycoMimetics, Inc. Taps New VP to Head Clinical Development Effort
Industry veteran Colin Scott, MD joins GMI management team.

Gaithersburg , Maryland – October 20, 2004 - GlycoMimetics, Inc. (GMI), a privately held firm that is developing a new class of glycobiology-based therapies for a broad range of indications, today announced that Dr. Colin Scott has been named Vice President, Drug Development. Dr. Scott is a senior pharmaceutical executive with over twenty years of experience in clinical development and regulatory affairs. He has managed programs for an impressive roster of pharmaceutical and biotechnology companies, including Wyeth, Fisons and CytoMed. Most recently he was VP of Clinical and Regulatory Affairs at Arriva Pharmaceuticals.

"This appointment is critical to the success of our programs, and I'm very excited that Colin has agreed to join us," says GMI CEO Rachel King. "He brings a wealth of development experience through all clinical phases, both in the US and abroad."

"GMI could be among the first to deliver on the promise of this exciting field," adds Dr. Scott. "I'm looking forward to playing a part in that."

King also praised Jim Leslie of Kincannon & Reed of Vienna, VA who helped to conduct the nationwide search to fill the position.

GMI was established in May 2003 to develop novel therapeutics based upon the roles that carbohydrates play in important biological processes. The Company believes that carbohydrate mimics ("glycomimetic" compounds) represent an important new class of therapeutics. Already, the Company has identified a novel and proprietary class of anti-inflammatory compounds which have been shown to reduce key measures of inflammation in several animal models.

GMI has raised a combined $9.6-million in two tranches of its Series A round of venture financing. The company is using the funding for pre-clinical development of its lead compounds.

About GMI:

GMI capitalizes on advances in the field of glycobiology by developing small molecule drugs that mimic the functions of certain carbohydrates. The company's initial focus is on therapeutics to treat inflammatory diseases and cancer. More information is available at the company's web site: http://www.glycomimetics.com.

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08.15.05: Washington Business Journal - GlycoMimetics chief named to biotech institute's board

07.18.05: Washington Business Journal - GlycoMimetics CEO Named to bio group's board.

05.20.05: Windhover Start-up Magazine - Glycobiology's Second Wave

12.23.04: GMI Sponsors, Presents at Annual Glycobiology Conference

08.13.04: Baltimore Business Journal - Montgomery biotech GlycoMimetics taps into Baltimore VCs, state fund

08.05.04: GMI Secures $5.1-million in Series A Extension

03.26.04: Washington Business Journal: Some relief for biotech's financial headaches*

03.15.04: The Washington Post - GMI's research taps troublesome carbohydrates to combat disease *

01.07.04: Red Herring Magazine - Venture Capitol*

11.03.03: Washington Post - Venture Funding Dips in 3rd Quarter *

10.28.03: Ginsburg Memorial Symposium Announced

9.20.03: Recap Magazine - Glycobiology: Biotech's New Sweet Spot *

09.17.03: GMI Announces Key Adds to BOD

06.06.03: The Business Gazette - Rockville biotech company to put new financing to use *

05.22.03: GMI Closes $4.3M Seed Round

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