GlycoMimetics Announces Transition Plan for Board of Directors

  • Current Board Member Tim Pearson to become Board Chair effective at
    the close of the company’s annual meeting on May 17, 2019
  • Longtime Board Chair M. James Barrett, Ph.D., and Board Member John
    Magnani, Ph.D., will not seek re-election

ROCKVILLE, Md.–(BUSINESS WIRE)–GlycoMimetics, Inc. (Nasdaq: GLYC) announced today planned transitions
within the company’s Board of Directors. Current Board Chair Jim
Barrett, who has held the role since the company’s inception, will not
seek re-election as he retires from the Board of Directors and scales
back participation in several organizations. Current GlycoMimetics Board
Member Tim Pearson will become Board Chair as of the close of the
company’s annual meeting on May 17, 2019. Company Co-founder and Board
Member John Magnani remains in his key role as GlycoMimetics’ Senior
Vice President, Research and Chief Scientific Officer (CSO), but is not
seeking re-election as a director at the annual meeting, when his
present term as director expires.

“I am deeply grateful for Jim’s long-time service on the board and his
strong support of the company since its founding. Over the years, he has
helped GlycoMimetics in innumerable ways through his strong leadership
and unwavering dedication to the company. I also extend many thanks to
John, who co-founded the company and has provided invaluable guidance to
the board. I look forward to his continued exceptional leadership of
GlycoMimetics’ research efforts in his role as Senior Vice President,
Research and CSO,” said Chief Executive Officer, Rachel King. “I’m also
very pleased to welcome Tim as the Board Chair designee. Tim joined our
board in 2014 and has a wealth of industry experience from senior roles
at several leading biotech companies, and we look forward to continuing
to leverage his expertise as we work to make an impact in the world of
oncology treatment.”

Mr. Pearson is the former Chief Financial Officer and Executive Vice
President for TESARO, Inc., a publicly traded oncology-focused
biopharmaceutical company that was recently acquired by GlaxoSmithKline.
Prior to that, he served as Executive Vice President, Chief Financial
Officer and Treasurer at Catalyst Health Solutions, a publicly traded
pharmacy benefit manager. Mr. Pearson also previously held the role of
Executive Vice President and Chief Financial Officer of MedImmune, the
global biologics business for AstraZeneca, where he had functional
responsibility for finance, information technology, strategic planning
and governance.

“I am honored to be nominated as the next GlycoMimetics’ Board Chair and
look forward to working with the board and management in this expanded
role,” said Mr. Pearson. “I thank Jim for his vision and leadership
which has brought GlycoMimetics to this point, with multiple late-stage
clinical opportunities ahead and am delighted to contribute more broadly
to our vision of bringing hope to patients with cancer and other serious
diseases.”

About GlycoMimetics, Inc.

GlycoMimetics is a clinical-stage biotechnology company focused on the
discovery and development of novel glycomimetic drugs to address unmet
medical needs resulting from diseases in which carbohydrate biology
plays a key role. GlycoMimetics’ most advanced drug candidate,
rivipansel, a pan-selectin antagonist, is being developed for the
treatment of vaso-occlusive crisis in sickle cell disease and is being
evaluated in a Phase 3 clinical trial being conducted by its strategic
collaborator, Pfizer. GlycoMimetics’ wholly owned drug candidate,
uproleselan, an E-selectin antagonist, was evaluated in a Phase 1/2
clinical trial as a potential treatment for AML and is being evaluated
across a range of patient populations including in a company-sponsored
Phase 3 trial in relapsed/refractory AML. GlycoMimetics has also
completed a Phase 1 clinical trial with a third drug candidate,
GMI-1359, a combined CXCR4 and E-selectin antagonist. GlycoMimetics is
located in Rockville, MD in the BioHealth Capital Region. Learn more at www.glycomimetics.com.

Forward-Looking Statements

This press release contains forward-looking statements regarding the
clinical development and regulatory pathway and potential benefits and
impact of the company’s drug candidates. Actual results may differ
materially from those in these forward-looking statements. For a further
description of the risks associated with these statements, as well as
other risks facing GlycoMimetics, please see the risk factors described
in the company’s annual report on Form 10-K to be filed with the U.S.
Securities and Exchange Commission (SEC) on or about March 6, 2019, and
other filings GlycoMimetics makes with the SEC from time to time.
Forward-looking statements speak only as of the date of this release,
and GlycoMimetics undertakes no obligation to update or revise these
statements, except as may be required by law.

Contacts

Investor Contact:
Shari Annes
Phone: 650-888-0902
Email: sannes@annesassociates.com

Media Contact:
Jamie Lacey-Moreira
Phone: 410-299-3310
Email:
jamielacey@presscommpr.com

error: Content is protected !!