GlycoMimetics, Inc., a biotechology company focusing on the development of treatments for blood cancers and inflammatory diseases, has closed its initial public offering (IPO) of more than 8 million shares of common stock, raising $57.4 million at an IPO price of $8 per share. Under- writers Jefferies LLC and Barclays Capital Inc. exercised their option to purchase up to 1 million additional shares of common stock. Stifel acted as co-lead manager, and Canaccord Genuity Inc. acted as co-manager. The company reportedly plans to use the proceeds to fund clinical research of its lead candidate, GMI-1271, to treat acute myeloid leukemia. See Smart-, January 13, 2014; and GlycoMimetics, Inc. News Release, January 15, 2014.