Biotechnology / Funding / Startups

Gliknik receives $15M payment from Pfizer after reaching clinical milestone

The University of Maryland BioPark company's candidate drug is being developed to treat a rare neurological disorder.

The University of Maryland BioPark. (Courtesy photo)

Baltimore biopharmaceutical startup Gliknik said human trials began for a candidate drug it’s developing to treat a rare neurological disorder.

With the beginning of the Phase I clinical trial, the University of Maryland BioPark-based company received a $15 million payment from pharmaceutical giant Pfizer. The payment is tied to a licensing deal between the company and Pfizer, which was initially inked in 2013.

Gliknik is developing a treatment for chronic inflammatory demyelinating polyneuropathy (CIDP), which the company said is not derived from blood. It’s designed to meet the effectiveness of a blood product called Intravenous Immune Globulin, which is used to treat autoimmune diseases. Previously, the candidate received orphan drug designation from the U.S. Food and Drug Administration in 2015.

“Beginning the Phase I clinical trial is an important milestone in the development of this drug candidate,” said Gliknik CEO David S. Block in a statement. “We are hopeful that Pfizer’s clinical development efforts will lead to more treatment options for patients with CIDP.”

Under the licensing deal, Pfizer could also receive royalties on sales if the products are commercialized.

Companies: Gliknik / Pfizer

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