Glycomine Closes $68 Million Series B to Advance into Clinical Trials a Novel Treatment for PMM2-CDG, a Rare Glycosylation Disease
Retrieved on:
Wednesday, June 23, 2021
Professional services, Health, Finance, Clinical trials, Pharmaceutical, Biotechnology, Congenital disorders of glycosylation, PMM2, Genetic genealogy, Medical genetics, Branches of biology, Novo Holdings A/S, CDG, PMM2-CDG, Glycomine, Inc., Abingworth, Sanofi Ventures, RiverVest Venture Partners, Remiges Ventures, PMM2-CDG, GLYCOMINE, INC., ABINGWORTH, SANOFI VENTURES, RIVERVEST VENTURE PARTNERS, REMIGES VENTURES
The proceeds of the financing will be used to advance Glycomines lead drug candidate, GLM101, through initial clinical trials in patients.
Key Points:
- The proceeds of the financing will be used to advance Glycomines lead drug candidate, GLM101, through initial clinical trials in patients.
- GLM101 is a novel substrate replacement therapy in development to treat phosphomannomutase 2-congenital disorder of glycosylation (PMM2-CDG), a rare disease representing a critical unmet medical need.
- The Series B financing includes $35 million of new funds in addition to the $33 million announced in August 2019.
- In addition, all previous Series B investors Novo Holdings A/S, Asahi Kasei Pharma Ventures, Mission BioCapital, Sanderling Ventures, and Chiesi Ventures participated.