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news.GlycoMimetics has entered into a global licensing agreement with Pfizer for its drug candidate, GMI-1070 to treat vaso-occlusive crisis associated with sickle cell disease.
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GMI-1070 is a pan-selectin antagonist currently in Phase 2 development for the treatment of vaso-occlusive crisis associated with sickle cell disease.
GMI-1070, which is believed to inhibit selectin interactions that cause inflammation leading to vaso-occlusive crisis, has received Orphan Drug and Fast Track status from the U.S. Food and Drug Administration (FDA).
The potential value of the agreement for GlycoMimetics is around $340m including an upfront payment as well as development, regulatory and commercial milestones.