Baltimore biotech Gliknik raises $3.5 million
More good news for a Baltimore startup today: Gliknik Inc., which is based in the University of Maryland BioPark, announced that it completed a $3.5 million equity financing raise. The money was raised over the course of the past seven months, the company said.
Gliknik is a biopharmaceuticals company that plans on using the new funds to initiate a clinical program in autoimmune diseases for its Stradomer platform, which are recombinant drugs. The company is working to create new treatments for cancer and immune disorders.
"An infusion of investor funding highlights a growing vote of confidence as we continue to develop new therapies for patients with cancer and autoimmune/inflammatory diseases," said David S. Block, Gliknik's president and chief executive officer. (Block is pictured above.)
Over the past six months, Gliknik has also received an additional $1 million in competitive grant funding from a federal program, a U.S. Army subcontract, and a Maryland Department of Business and Economic Development research award.
Gliknik also announced that it received a patent from the U.S. Patent and Trademark Office for one of its drug programs for fighting cancer.
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