GlycoMimetics, Inc. Commences Phase 1 Clinical Trial of Lead Drug Candidate

Pan-selectin inhibitor will initially target vaso-occlusive crisis
associated with sickle cell disease
GAITHERSBURG, Md.--(Business Wire)--
GlycoMimetics, Inc., a privately held company developing a new
class of glycobiology-based therapies for a broad range of
indications, today announced it has initiated a Phase 1 clinical trial
for GMI-1070, its lead drug candidate for the treatment of
vaso-occlusive crisis of sickle cell disease.

"We are pleased to advance our lead drug candidate into clinical
trials," said Rachel King, Chief Executive Officer of GlycoMimetics.
"GMI-1070 possesses excellent drug-like properties and has
demonstrated potency in pre-clinical studies of vaso-occlusive crisis
as well as in other disease indications."

The Phase 1 trial will evaluate the safety and pharmacokinetics of
a single intravenous dose of GMI-1070 at a range of dose levels. The
initial Phase 1 trial will be followed by additional multiple dose
studies in healthy volunteers and, later, in sickle cell patients to
further assess safety and to evaluate clinical effects.

About GMI-1070

GMI's lead compound, GMI-1070, is a rationally designed
glycomimetic inhibitor of E-, P- and L-selectins, and inhibits a key
early step in the inflammatory process leading to leukocyte adhesion
and recruitment to inflamed tissue. GMI-1070 has been shown to be
active in several models of diseases in which leukocyte adhesion and
activation play a key role, including vaso-occlusive crisis of sickle
cell disease. By inhibiting selectin interactions, GMI-1070 may be
able to decrease the enhanced cell adhesion that results in
vaso-occlusive crisis. In pre-clinical studies, GMI-1070 restored
blood flow to affected vessels of sickle cell animals experiencing
vaso-occlusive crisis. GMI-1070 is also being evaluated in preclinical
studies for the treatment of certain hematologic cancers, where
selectin-mediated cell adhesion and migration is known to play a key
role in the disease process. GMI-1070 was discovered at GlycoMimetics
in collaboration with the University of Basel Pharmacenter in Basel,
Switzerland.

About Vaso-Occlusive Crisis

Vaso-occlusive crisis is the main clinical feature of sickle cell
disease, often resulting in significant clinical complications,
including death. Currently, there are no mechanism-based therapies for
treatment of vaso-occlusive crisis. Treatment consists primarily of
supportive therapy in the form of hydration and pain control,
typically requiring hospitalization for five to six days. There are
approximately 75,000 hospitalizations per year associated with
vaso-occlusive crisis in the US.

About GlycoMimetics, Inc.

GlycoMimetics is a privately held biopharmaceutical company that
capitalizes on advances in the field of glycobiology. The Company uses
rational design of small molecule drugs that mimic the functions of
bioactive carbohydrates to develop new drug candidates. The company's
initial focus is on therapeutics to treat inflammation, cancer, and
infectious diseases. More information is available at the company's
web site: http://www.glycomimetics.com.

GlycoMimetics, Inc. (GMI)
Andrew Barrett, 240-243-1220

Copyright Business Wire 2008