GlycoMar secures £260,000 investment

Scottish marine biotechnology company GlycoMar Ltd has recently secured further investment of £260,000 from its investors, as the first stage of a targeted £2.5 M funding round. This will allow the Company to expand and accelerate its drug discovery operations, taking potential marine anti-inflammatory drugs into clinical development.

GlycoMar, which means ‘sweet sea’, is dedicated to the discovery, development and commercialisation of new anti-inflammatory drug candidates based on the glycobiology of marine organisms. The Company makes its products from a wide variety of invertebrate animals, including starfish, shellfish, sponges, and sea squirts, and it has recently started working with seaweed and bacterial products.

Since 2005, GlycoMar’s rapid growth business strategy has seen the company secure major contracts with drug development companies to supply polysaccharide and glycoprotein products as well as in vitro screening services. GlycoMar is in discussions with institutional investors to secure an additional £2.25 M to take its active compounds in to clinical trials.

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