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Gliknik injects $1.9M, seeks $4M for immune system therapy

Monday, August 30th, 2010

GliknicBALTIMORE, MD – Gliknik, a biopharmaceutical company developing treatments for cancer and autoimmune diseases, has raised $1.9 million of a targeted $4 million equity round that includes warrants and options, according to a regulatory filing.

The company disclosed in June that Maryland Health Care Product Development Corp. (MHCPDC) had invested an undisclosed amount in the company and said it would invest an additional amount of equity this summer.

The MHCPDC is a non-profit venture investment organization and a supporting organization of the Tech Council of Maryland.

The company also raised a $3.6 million round in Janurary.

The company evolved from research by Dr. Scott Strome professor of Otorhinolarynogology-Head & Neck Surgery at the University of Maryland School of Medicine in Baltimore.

The company was founded by David S. Block, CEO and president, who was previously a senior executive at DuPont Merck and was COO of Celera Genomics. A serial entrepreneur, he also previously founded Ruxton Pharmaceuticals in 2004, a venture-backed startup.

Gliknik disclosed the funding in a filing with the US Securities and Exchange Commission.

To contact TechJournal South Editor & Writer Allan Maurer: Allan at TechJournalSouth dot com.