Maryland Health Care Product Development Corporation Invests in Gliknik Inc.
BALTIMORE, June 8 /PRNewswire/ — Biopharmaceuticals company Gliknik Inc. announced today that the Maryland Health Care Product Development Corporation (MHCPDC) has completed an equity investment in the company. MHCPDC and Gliknik further agreed on June 1, 2010 to undisclosed financial terms, under which the MHCPDC will also make a new equity series investment in Gliknik this summer. The MHCPDC is a supporting organization of the Tech Council of Maryland (TCM).
“The MHCPDC board is highly selective when considering potential companies in which to invest,” said Jerry Parrott, MHCPDC Chairman. “As we evaluated Gliknik, we were impressed with the company’s innovative science and progress against developing novel therapeutics for patients with cancer and immune disorders.”
Each of Gliknik’s three primary research and development platforms holds the promise of producing multiple innovative products. These include:
- Stradomer(TM) Platform, which produces recombinant drugs that mimic the efficacy of pooled human Intravenous Immunoglobulin,
- Stradobody(TM) Platform, which produces compounds that are similar to monoclonal antibodies but are designed to have greatly increased tumor cell killing capabilities, and
- Immunomodulator Platform, Gliknik’s most advanced program, which features two in-licensed compounds with U.S. Food & Drug Administration orphan drug designation that are in clinical safety testing of patients with advanced Head and Neck Squamous Cell Carcinoma. An immunomodulator will soon be entering efficacy testing in advanced multiple myeloma patients in combination with autologous stem cell transplant.
“The MHCPDC is an extremely thorough and diligent non-profit venture investment organization with great biotechnology and transactional depth around the table further complemented by expert consultants,” said David S. Block, Gliknik President & CEO. “We are pleased to welcome MHCPDC as a sophisticated investor in Gliknik.”
MHCPDC is a non-profit venture investment organization and a supporting organization of the Tech Council of Maryland. Its goal is to stimulate growth of Maryland’s biomedical industry through “early stage” investment in promising biomedical and medical technology companies. Learn more at techcouncilmd.com/mhcpdc/.
About Gliknik Inc.
Founded in 2007, Gliknik is a biopharmaceuticals company creating new therapies for patients with cancer and immune disorders. Gliknik expertise is in modulation of the immune system to fight disease. Gliknik was named a 2009 Maryland Incubator Company of the Year. Learn more at www.gliknik.com.
SOURCE Gliknik Inc.