Biopharmaceuticals firm Gliknik has raised $4.9m in a series B round led by healthcare company Baxter International’s corporate venturing unit.
Gliknik also said it has received a total of more than $1m of non-dilutive competitive grant funding in the last six months from a US Army subcontract, the Qualified Therapeutic Discovery Project, and a State of Maryland Department of Business & Economic Development Translational Research Award.
Baxter, which made its investment in the US-based firm through its venture unit Baxter Ventures , was also joined by existing investors.
The latest round brings the Baltimore-based firm’s total venture funding to $8.4m. At the start of last year, Gliknik announced a venture round worth $3.5m.
The sole investor was Joel B. Braunstein, the founder and chief executive officer of consulting firm LifeTech Research.
The company plans to use the funds to bring a new development programme to the clinic.
David S. Block, Gliknik president & CEO, said: “An infusion of investor funding highlights a growing vote of confidence as we continue to develop new therapies for patients with cancer and autoimmune/inflammatory diseases. We now have increased flexibility to take our lead stradomer™, GL-2045, into initial clinical trials on our own or with a partner.”