GlycoMimetics Inc. is a biotechnology company that was founded in 2003 and is headquartered in Rockville, Maryland, USA. The company is focused on the discovery and development of novel small molecule therapeutics that selectively target specific biological pathways that are involved in diseases, with a particular emphasis on cancer and rare diseases. The company’s drug development efforts are centered around its proprietary technology platform, which enables the discovery of small molecule drugs that mimic the function of complex sugars on the surface of cells.
GlycoMimetics Inc. went public in 2014, with its initial public offering (IPO) priced at $8 per share. The company raised approximately $45 million in gross proceeds from the offering, which it has since used to fund its drug development efforts. Since going public, the company has continued to advance its pipeline of drug candidates, with a particular focus on the development of its lead drug candidate, uproleselan, which is being evaluated for the treatment of acute myeloid leukemia (AML) and other hematologic malignancies.
Uproleselan is a highly selective, first-in-class inhibitor of E-selectin, a cell adhesion molecule that is involved in the adhesion and activation of white blood cells, or leukocytes, within the bone marrow microenvironment. By inhibiting E-selectin, uproleselan is designed to disrupt the interaction between leukocytes and bone marrow cells, thereby restoring normal bone marrow function and enhancing the efficacy of chemotherapy. The drug candidate has received orphan drug designation from the US Food and Drug Administration (FDA) for the treatment of AML and is currently being evaluated in multiple clinical trials.
In addition to uproleselan, GlycoMimetics Inc. has several other drug candidates in its pipeline, including GMI-1687, which is being developed for the treatment of sickle cell disease, and GMI-1359, which is being developed for the treatment of cancer. The company also has ongoing collaborations with several pharmaceutical companies, including Pfizer and Merck, to discover and develop novel therapeutics.
As of May 2021, GlycoMimetics Inc. had a market capitalization of approximately $223 million and a share price of around $4.55. The company is led by CEO and Chairman Rachel King, who has over 30 years of experience in the biotechnology industry and has led several successful companies in the sector. GlycoMimetics Inc. has a team of approximately 50 employees and is focused on advancing its pipeline of drug candidates towards commercialization.