June 7, 2010, Rockville, MD – Gliknik Inc., a Baltimore-based biotechnology company, announced today that the Maryland Health Care Product Development Corporation (MHCPDC) has completed an equity investment in Gliknik. MHCPDC and Gliknik further agreed on June 1, 2010 to undisclosed financial terms, under which the MHCPDC will also make a new equity series investment in Gliknik this summer. The MHCPDC is a supporting organization of the Tech Council of Maryland (TCM).
"The MHCPDC board is highly selective when considering potential companies in which to invest," said Jerry Parrott, Chairman of MHCPDC. "As we evaluated Gliknik, we were impressed with the company´s innovative science and progress against developing novel therapeutics for patients with cancer and immune disorders."
Gliknik has three primary research and development platforms, each of which holds the promise of producing multiple innovative products. These include:
"The MHCPDC is an extremely thorough and diligent non-profit venture investment organization with great biotechnology and transactional depth around the table further complemented by expert consultants," said David S. Block, Gliknik President & CEO. "We are exceptionally pleased to welcome MHCPDC as a sophisticated investor in Gliknik."
About MHCPDC
The Maryland Health Care Development Corporation is a non-profit venture investment organization and a supporting organization of the Tech Council of Maryland. Its goal is to stimulate growth of the biomedical industry in the state through "early stage" investment in promising Maryland biomedical and medical technology companies. Learn more at techcouncilmd.com/mhcpdc.
About Gliknik Inc.
Founded in 2007, Gliknik is a biopharmaceuticals company creating new therapies for patients with cancer and immune disorders. Gliknik expertise is in modulation of the immune system to fight disease. In 2009, Gliknik was named a Maryland Incubator Company of the Year. For more information, visit www.gliknik.com.
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ABOUT THE TECH COUNCIL OF MARYLAND, INC.
The Tech Council of Maryland (TCM) is the largest technology trade group serving the advanced technology and biotechnology communities of Maryland. TCM's mission is to advocate for the interests of the technology community, further the role of technology in the Maryland economy, and nurture an environment where technology companies can collaborate, grow and succeed. For more information, visit www.techcouncilmd.com.