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GlycoMimetics licensed sickle cell agent to Pfizer to grow rest of pipeline
Monday, October 31, 2011
Inc.'s GMI-1070 sickle cell disease therapeutic received much less
money from the government's therapeutic tax credit awards than the company had
requested, the biotech had to use more of its own dollars on the project and
thus had less to spend on other research. Now that it has partnered the
selectin-based compound with Pfizer
Inc., GlycoMimetics expects it has freed up enough resources to get
back into the clinic with a cancer candidate in 12-18 months.
GlycoMimetics was founded based
on CSO John Magnani's research on the biology of carbohydrates, in particular a
family of cell adhesion molecules called selectins.
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