Glyscend Therapeutics, a Baltimore, MD-based biopharmaceutical company developing novel treatments for type 2 diabetes (T2D) and related metabolic conditions, closed a $20.5m Series A financing round.
Brandon Capital Partners, through its Medical Research Commercialisation Fund (MRCF), and Santé Ventures led the round.
The company intends to use the funds for the development of its novel oral polymer therapy for patients with T2D and other metabolic diseases.
Led by Ashish Nimgaonkar, MD, Co-Founder, President and CEO, and Dr. Thomas Jozefiak, PhD, Co-Founder and Chief Scientific Officer, Glyscend is a biopharmaceutical company developing novel orally- delivered compounds that work on targets inside the GI tract to treat a variety of metabolic disorders, including T2D. Its polymer technology platform evolved from research at Johns Hopkins University, where scientists were evaluating the mechanisms that result in improved glucose and metabolic regulation following certain types of bariatric surgery. They discovered that specifically designed polymers, delivered orally in animal model, could mimic this post-surgical effect. The technology was invented through research that originated at the Center for Bioengineering Innovation & Design (CBID) at Johns Hopkins University and was licensed from the University.
The project received grants and recognition from the Maryland Innovation Initiative, the National Science Foundation, Johnson & Johnson Innovation, and Janssen Research & Development 2016 World Without Disease QuickFire Challenge.
The company is headquartered in Baltimore, MD, and performs materials science R&D at JLABS @ M2D2 in Lowell, MA.
Glyscend also added industry entrepreneur Karen Talmadge, PhD, to its Board of Directors as an independent director.