Glycomine, a San Francisco, CA-based biotechnology company developing a new generation of replacement therapies for rare diseases, raised $12m in a Series A financing.
The round was led by Sanderling Ventures with participation from Chiesi Ventures as well as existing high net worth individuals and patients. In conjunction with the round, Peter McWilliams, PhD, MBA, Managing Director at Sanderling Ventures, and Giacomo Chiesi, MBA, Managing Partner at Chiesi Ventures, joined Glycomine’s Board of Directors.
The company intends to use the funds to complete IND enabling pre-clinical studies and initiate clinical studies of its substrate replacement therapy in patients with Congenital Disorder of Glycosylation Type Ia (CDG-Ia), and to accelerate discovery efforts towards an enzyme replacement therapy for N-glycanase deficiency (Ngly1).
Led by Agnes Rafalko, PhD, Chief Executive Officer, and Christopher Starr, PhD, Executive Chairman and previously co-founder and C-level executive of BioMarin and Raptor, Glycomine is developing orphan drugs for serious rare monogenic disorders of metabolism and protein misfolding. The company’s approach is to combine replacement therapies – substrates, enzymes, or proteins – with intracellular delivery vehicles consisting of bio-nanomaterials or ligands that target the molecules to the cell interior of clinically relevant organs.