Glycomine Secures $115M to Propel GLM101 into Phase 2b Trials for PMM2-CDG
Deal News | Apr 16, 2025 | advent life sciences llp
Glycomine, a biotech firm specializing in orphan diseases, announces a $115 million Series C funding round led by CTI Life Sciences Fund, abrdn Inc., and Advent Life Sciences. The funding will advance Glycomine's flagship therapy, GLM101, into a Phase 2b clinical trial. GLM101 targets PMM2-CDG, a rare genetic disorder lacking approved treatments. Data from current Phase 2 studies show significant improvements in ataxia in patients, underscoring the therapy's potential. New board appointments from the investing firms highlight strong backing and commitment to offering viable treatments for PMM2-CDG.
Sectors
- Biotechnology
- Pharmaceuticals
- Venture Capital
Geography
- United States – Glycomine is based in San Carlos, California, and part of the clinical trials occur in the U.S.
- Europe – Portions of Glycomine's clinical trials are conducted in Europe, reflecting its international research efforts.
Industry
- Biotechnology – The core industry involved, as Glycomine is a biotechnology company developing new therapies for rare diseases.
- Pharmaceuticals – Related to the development and clinical trials of drug candidates such as GLM101 for rare disorders.
- Venture Capital – Involved due to the presence of a Series C funding round led by various venture capital firms.
Financials
- $115 million – Total Series C financing round secured by Glycomine to advance GLM101 into Phase 2b clinical trials.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Glycomine, Inc. | Target company/developer | Company | A biotechnology company focused on developing therapies for orphan diseases. |
| Advent Life Sciences LLP | Investor | Company | A leading venture capital firm, part of the $115 million Series C financing round. |
| CTI Life Sciences Fund | Lead investor | Company | The lead investor for the Series C Financing round for Glycomine. |
| abrdn Inc. | Investor | Company | An investment company participating in Glycomine’s Series C financing. |
| Novo Holdings | Existing investor | Company | One of the existing investors in Glycomine. |
| Sanofi Ventures | Existing investor | Company | Continued support investor in the Glycomine Series C round. |
| Steve Axon | CEO | Person | CEO of Glycomine who expressed enthusiasm over the Series C financing. |
| Youssef Bennani, Ph.D. | Managing Partner | Person | A Managing Partner with CTI Ventures, expressed confidence in GLM101. |
| Dominic Schmidt, Ph.D. | General Partner | Person | General Partner with Advent Life Sciences, now part of Glycomine's Board of Directors. |