Gliknik Inc. Raises $11.5 Million in Series C Financing
Gliknik Inc., an immunology company dedicated to patients with cancer and autoimmune disorders, today announced that it has successfully completed an $11.5 million Series C Preferred Stock financing. First In Ventures (FIV) led the Series C with SAISO Partners and affiliates of RDA Ventures and Garden Street Holdings also participating. The proceeds are targeted to progress the growing pipeline of product candidates. Gliknik has secured $81 million to date to advance its programs.
“We believe that Gliknik has created several potential best-in-class mid-stage assets,” said Scott Roth, managing partner of FIV. “This capital will help unlock the potential of these compounds and uniquely positions Gliknik to make a difference for patients with cancer or autoimmune disorders.”
Funding will help advance clinical and pre-clinical programs, including:
- A randomized double-blind, placebo-controlled phase 2 study of Gliknik immuno-oncology compound biropepimut-S, which is nearing completion. Clinicians are assessing two-year endpoints in the prevention-of-recurrence of high-risk squamous cell oral cavity cancer.
- Immune modulating compound GL-2045, a recombinant mimetic of pooled human IVIG, which is a potent clinical candidate under active development by Gliknik licensee Pfizer for autoimmune diseases. Gliknik believes that based on potency, purity and anticipated convenience, GL-2045 has the potential to be a disruptive advance for autoimmune diseases that could help address the current critical shortage of IVIG.
- GL-0719 is a new type of complement modulator, which is designed to control diseases while leaving critical host defense systems intact. GL-0719 is poised to enter a phase 1 trial in 2021.
- Other compounds in preclinical development
Kyle Rusconi, a founder of FIV, is joining the Board. “During the last several years, Gliknik has created a significant pipeline of important compounds,” said Mr. Rusconi. “This scientific development was done in a capital-efficient manner that preserved shareholder equity.”
“We are humbled by the depth of support from our investor base and welcome the addition of discerning investors with a long-term view,” said Gliknik CEO David Block.