Glycomine, a San Carlos, CA-based biotechnology company focused on developing new therapies for orphan diseases, raised $115M in Series C funding.
The round was led by CTI Life Sciences Fund, abrdn Inc., and Advent Life Sciences, with participation from existing investors Novo Holdings, Sanofi Ventures, Abingworth, RiverVest Venture Partners, Sanderling Ventures, Chiesi Ventures, Remiges Ventures, and Asahi Kasei Ventures. In connection with the financing, Drs. Youssef Bennani, Ph.D., Managing Partner with CTI Ventures, and Dominic Schmidt, Ph.D., General Partner with Advent Life Sciences, will join to Glycomine’s Board of Directors.
The company intends to use the funds to advance its lead candidate, GLM101, into a Phase 2b clinical trial.
Led by CEO Steve Axon, Glycomine is a clinical-stage biotechnology company that is advancing treatments for serious rare diseases for which no other therapeutic options exist. Its lead investigational drug candidate GLM101 is a mannose-1-phosphate replacement therapy in development to treat PMM2-CDG. GLM101 is designed to deliver mannose-1-phosphate into cells and thereby bypass disease-causing PMM2 mutations to restore pathway function.
FinSMEs
16/04/2025