Gliknik Inc. Raises $11.5 Million in Series C Financing
– Funding to help advance three drug candidates in clinical trials in 2021 –
– Company has raised $81 million in funding to date –
BALTIMORE--(BUSINESS WIRE)-- Gliknik Inc., an immunology company dedicated to patients with cancer and autoimmune disorders, today announced that it has successfully completed an $11.5 million Series C Preferred Stock financing. First In Ventures (FIV) led the Series C with SAISO Partners and affiliates of RDA Ventures and Garden Street Holdings also participating. The proceeds are targeted to progress the growing pipeline of Gliknik product candidates. Gliknik has secured $81 million to date to advance its programs.
“We believe that Gliknik has created several potential best-in-class mid-stage assets,” said Scott Roth, managing partner of FIV. “This capital will help unlock the potential of these compounds and uniquely positions Gliknik to make a difference for patients with cancer or autoimmune disorders.”
Funding will help advance Gliknik clinical and pre-clinical programs, including:
- A randomized double-blind, placebo-controlled phase 2 study of Gliknik immuno-oncology compound biropepimut-S, which is nearing completion. Clinicians are assessing two-year endpoints in the prevention-of-recurrence of high-risk squamous cell oral cavity cancer.
- Gliknik immune modulating compound GL-2045, a recombinant mimetic of pooled human IVIG, which is a potent clinical candidate under active development by Gliknik licensee Pfizer for autoimmune diseases. Gliknik believes that based on potency, purity and anticipated convenience, GL-2045 has the potential to be a disruptive advance for autoimmune diseases that could help address the current critical shortage of IVIG.
- GL-0719 is a new type of complement modulator, which is designed to control diseases while leaving critical host defense systems intact. GL-0719 is poised to enter a phase 1 trial in 2021.
- Other compounds in preclinical development
Kyle Rusconi, a founder of FIV, is joining the Gliknik Board. “During the last several years, Gliknik has created a significant pipeline of important compounds,” said Mr. Rusconi. “This scientific development was done in a capital-efficient manner that preserved shareholder equity.”
“We are humbled by the depth of support from our investor base and welcome the addition of discerning investors with a long-term view,” said Gliknik CEO David Block.
About Gliknik Inc.
Gliknik is an immunology company creating and advancing biologic drugs for patients with cancer and autoimmune disorders. Learn more at www.gliknik.com.
This press release contains “forward-looking statements” concerning the development and commercialization of Gliknik products, the potential benefits and attributes of such products, and Gliknik expectations regarding its prospects. Forward-looking statements are subject to risks, assumptions and uncertainties that could cause actual future events or results to differ materially from such statements. These statements are made as of the date of this press release. Actual results may vary. Gliknik undertakes no obligation to update any forward-looking statements for any reason.
Laura Morgan, Sam Brown Inc., firstname.lastname@example.org; 951-333-9110
Source: Gliknik Inc.