Scheer Partners Noted in Numerous Stories on GlycoMimetics Deal

Scheer Partners Noted in Numerous Stories on GlycoMimetics Deal

Scheer Partners has received some media coverage for its representation of biotech firm GlycoMimetics on a new Gaithersburg headquarters. Citybizlist.com, the Daily Record and the Gazette picked up this news. The stories also appear below:

Citybizlist.com

GlycoMimetics, a privately held biotechnology company that has raised a total of $63 million in three rounds of venture financing, will move to a larger corporate headquarters in Gaithersburg this November.

GlycoMimetics will occupy 14,500 square feet of laboratory and office space at 401 Professional Drive, a 60,000-square-foot building owned by Pasadena, CA-based Alexandria Real Estate Equities. GlycoMimetics’ new facility represents an increase from its current 10,500 square feet of space at 101 Orchard Ridge Drive, which is also in Gaithersburg.

Scheer Partners SVP Henry Bernstein and VP Matt Brady represented GlycoMimetics in this transaction. Alexandria Real Estate Equities has not responded to a request seeking information on who leases this building on their behalf.

GlycoMimetics specializes in the design of small-molecule therapeutics that mimic the functions of bioactive carbohydrates. The company’s initial focus is on drugs to treat inflammation, cancer and infectious diseases.

For its new corporate facility, GlycoMimetics kept its search primarily in the Gaithersburg submarket. The space at 401 Professional Drive is a good fit, because it has a heavy concentration of chemical fume hoods and related HVAC capabilities, which is providing substantial savings to GlycoMimetics during its build-out, according to Brady.

“This is an extremely promising biotech company with a strong management team and board of directors, impressive scientific expertise and financial backing from well-known venture capital firms,” Brady says.

Other tenants in the building include General Research Laboratory and Sirnaomics.

In October of 2009, GlycoMimetics announced that it had raised $38 million in its latest round of venture funding, with Genzyme Ventures joining returning investors New Enterprise Associates, the Novartis Venture Fund, Anthem Capital and Alliance Technology Ventures in this round.

GlycoMimetics is using this most recent investment to fund a Phase 2 trial of its lead drug candidate, GMI-1070, in vaso-occlusive crisis of sickle-cell disease, as well as to continue building its pipeline of innovative therapies.

Daily Record

GlycoMimetics will move to a larger corporate headquarters in Gaithersburg this November. The privately held biotechnology company, which has raised a total of $63 million in three rounds of venture capital financing, will occupy 14,500 square feet of laboratory and office space at 401 Professional Drive, a 60,000-square-foot building owned by Pasadena, Calif.-based Alexandria Real Estate Equities. Henry Bernstein and Matt Brady of Scheer Partners represented GlycoMimetics in the deal.

Gazette

GlycoMimetics plans to move to larger quarters within Gaithersburg in November.

The privately held company, which is conducting a phase 2 trial of its lead drug candidate in vaso-occlusive crisis of sickle-cell disease, will lease 14,500 square feet of laboratory and office space at 401 Professional Drive, a 60,000-square-foot building owned by Alexandria Real Estate Equities of Pasadena, Calif.

Its current facility at 101 Orchard Ridge Drive has 10,500 square feet of space.

The new space works well because it has a heavy concentration of chemical fume hoods and related heating, ventilation and air conditioning capabilities, providing savings to GlycoMimetics during its build-out, according to Matt Brady, a vice president with Scheer Partners of Rockville who represented GlyoMimetics.

Other tenants in the building include General Research Laboratory and Sirnaomics.

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