GlycoMimetics Appoints Scott Koenig of MacroGenics to Board of Directors
March 13 2017 - 9:30AM
Business Wire
Two Long-Time Board Members to Step Down After
Company’s 2017 Annual Meeting
GlycoMimetics, Inc. (NASDAQ: GLYC) announced today the
appointment of Scott Koenig, M.D., Ph.D., to its Board of
Directors. Dr. Koenig is President and Chief Executive Officer and
a member of the Board of Directors of MacroGenics (NASDAQ: MGNX), a
company specializing in antibody-based therapies for cancers and
other diseases. He also serves as Chairman of the Board of the
Applied Genetic Technologies Corporation (NASDAQ: AGTC).
“We are delighted to have someone with the breadth and depth of
Dr. Koenig’s scientific and business expertise join our Board of
Directors as we move our portfolio of product candidates into later
stages of clinical development and closer to commercialization,”
said Rachel King, CEO of GlycoMimetics. “His more than 30
years of accomplishment and leadership in research and
biotechnology, and his specific work at the helm of a company
dedicated to cancer therapeutics, will be true assets to the
GlycoMimetics team.”
Dr. Koenig has been President, CEO and a director of MacroGenics
since 2001 and was one of the company’s founders. Previously, he
was Senior Vice President of Research at MedImmune, participating
in the selection and maturation of the company’s product pipeline.
Before that, he worked in the National Institute of Allergy and
Infectious Diseases’ Laboratory of Immunoregulation. In addition to
serving as Chair of the Applied Genetic Technologies Corporation,
he also serves as a member of the Board of Directors of the
Biotechnology Innovation Organization (BIO) and the International
Biomedical Research Alliance, and co-chairs the Scientific Advisory
Board of the Institute for Bioscience and Biotechnology Research
(IBBR) at the University of Maryland. Previously, he served as a
member of the Scientific Management Review Board at the NIH, and of
the Board of Directors of Children’s National Health System, where
he was also the Chairman of the Board of the Children’s Research
Institute. He received his M.D. from the University of Texas Health
Science Center in Houston, and his Ph.D. and A.B. from Cornell
University.
“I’m honored to serve on the Board of Directors of
GlycoMimetics, and to help guide their efforts to advance their
promising drug candidates,” said Dr. Koenig. “I’ve observed many
biotechnology companies as they have worked through the drug
development and approval process, and am particularly impressed
with the potential of GlycoMimetics and its product candidate
portfolio. We share a dedication to making a meaningful difference
for those facing unmet medical needs.”
In addition to the appointment of Dr. Koenig, GlycoMimetics also
announced that two of its long-standing Board members would be
stepping down. Franklin Top, Jr., M.D., will not be running for
re-election when his term expires after the Company’s upcoming
Annual Meeting. John J. Baldwin, Ph.D., has also notified the Board
of his intention to resign, effective after the GlycoMimetics
Annual Meeting.
“I am so grateful for the insights and contributions that Drs.
Top and Baldwin have provided to the GlycoMimetics team over the
years they have served on our Board of Directors,” said Mrs. King.
“They have each played a critical role in the success of
GlycoMimetics, and they will be sincerely missed.”
About GlycoMimetics, Inc.
GlycoMimetics is a clinical-stage biotechnology company
focused on cancer and sickle cell disease. GlycoMimetics' most
advanced drug candidate, rivipansel, a pan-selectin antagonist, is
being developed for the treatment of vaso-occlusive crisis in
sickle cell disease and is being evaluated in a Phase 3 clinical
trial being conducted by its strategic collaborator, Pfizer.
GlycoMimetics' wholly-owned drug candidate, GMI-1271, an E-selectin
antagonist, is being evaluated in an ongoing Phase 1/2 clinical
trial as a potential treatment for AML and in a Phase 1 clinical
trial in multiple myeloma. GlycoMimetics has also
recently initiated a clinical trial with a third drug candidate,
GMI-1359, a combined CXCR4 and E-selectin
antagonist. GlycoMimetics is located in Rockville,
MD in the BioHealth Capital Region. Learn more
at www.glycomimetics.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding
GlycoMimetics’ planned activities with respect to the clinical
development of its drug candidates, GMI-1271 and GMI-1359. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various important
factors, including the availability and timing of data from ongoing
clinical trials, the uncertainties inherent in the initiation of
future clinical trials, whether interim results from a clinical
trial will be predictive of the final results of the trial or
results of early clinical trials will be indicative of the results
of future trials, expectations for regulatory approvals,
availability of funding sufficient for GlycoMimetics’ foreseeable
and unforeseeable operating expenses and capital expenditure
requirements, other matters that could affect the availability or
commercial potential of GlycoMimetics’ drug candidates and other
factors discussed in the “Risk Factors” section of GlycoMimetics’
Annual Report on Form 10-K that was filed with the U.S. Securities
and Exchange Commission on February 29, 2016, and other filings
GlycoMimetics makes with the Securities and Exchange Commission
from time to time. In addition, the forward-looking statements
included in this press release represent GlycoMimetics’ views as of
the date hereof. GlycoMimetics anticipates that subsequent events
and developments may cause its views to change. However, while
GlycoMimetics may elect to update these forward-looking statements
at some point in the future, GlycoMimetics specifically disclaims
any obligation to do so, except as may be required by law. These
forward-looking statements should not be relied upon as
representing GlycoMimetics’ views as of any date subsequent to the
date hereof.
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GlycoMimetics, Inc.Investor Contact:Shari
Annes650-888-0902sannes@annesassociates.comorMedia
Contact:Jamie
Lacey-Moreira410-299-3310jamielacey@presscommpr.com
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