Biotech with rare disease focus files for $86 million IPO

GlycoMimetics, Inc. has reportedly filed a registration statement with the U.S. Securities and Exchange Commission indicating its intent to raise up to $86 million in an initial public offering (IPO). The Gaithersburg, Maryland-based biotech, which develops treatments for orphan diseases—those affecting fewer than 200,000 patients—is reportedly in mid-stage trials of its GMI-1070 treatment for vaso-occlusive crisis, a complication of sickle cell disease. See GlycoMimetics, Inc. News Release and FierceBiotech.com, October 7, 2013.