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Boston Millennia Partners’ portfolio reflects Millennia’s commitment towards building enduring, large-scale businesses that have the potential to provide superior financial returns to our investors. Millennia’s portfolio is comprised of a diversified group of firms each positioned with the potential to become leaders in their respective market segments. We invite you to use the links below to learn more about each of those portfolio companies. |
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21 Lafayette Street
Suite 200
Lebanon, NH 03766
Phone: 603-643-8186
Fax: 603-643-8194
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GlycoFi, Inc. was founded in 2000 with the mission of dramatically improving the capacity and cost of producing human therapeutic proteins, while simultaneously enhancing their efficacy and safety as therapeutics. The company harnesses the inherent advantages of yeast and other fungal-based protein expression systems by engineering these systems to produce correctly glycosylated human therapeutic proteins, thus greatly increasing the efficiency, fidelity and scalability at which those proteins can be made. |
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| Millennia Team |
Dana Callow,
Pat Fortune, Ph.D.
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| Investment Date |
April 2002 |
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| Visit the Website |
http://www.merck.com/ |
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| Case Study |
GlycoFi began in the laboratory at Thayer School of Engineering at Dartmouth University in 2000. The conventional method of producing protein drugs involves mammalian cell reactors that makes use of a cell type known as a CHO cell, which is able to put sugars on the protein backbone (a process known as glycosylation) so that the result does not generate an immune response in humans. Production lines based on this technology are expensive to build and difficult to scale. It was natural to look for protein expression technologies that were more efficient “factories” than CHO cells but which also glycosylated the therapeutic protein correctly. Boston Millennia Partners, through personal relationships at Dartmouth, became interested in the company in late 2001 and invested in the Series B financing in early 2002. The round was the first substantial round of institutional financing. After our initial investment, we served on the Board of Directors of GlycoFi and were integral to the strategic development of the company. We worked with the management team and Board to advance the technology to meet market demands, and helped to establish strategic partnerships, including partnering agreements achieved with Merck & Co., Eli Lily and Company and others, to validate the technology, and provide strategic equity financing and revenue for the company. In addition, Millennia supported and helped to raise over $30 million in venture capital financing for the company. In January 2006, GlycoFi scientists published an article in Nature Biotechnology which demonstrated the company’s ability to produce glycoforms of the antibody in Genentech’s cancer cell killer, Rituxin®. Following the publication of that success, GlycoFi was acquired by Merk & Co. for $400 million in cash, after an auction process in which our advice was instrumental in optimizing the acquisition price. According to the National Vventure Capital Association, the transaction realized the third highest price ever paid for a private biotechnology company. Boston Millennia Partners received a 10X return on its investment in GlycoFi, Inc.
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| Related News |
Boston, MA - June 9, 2006
Merck & Co., Inc. Acquires GlycoFi, Inc. for $400 Million
Lebanon, NH - January 23, 2006
Glycofi Announces the First Production of AntiBodies with Human Glycosylation in Yeast
Lebanon, NH - December 12, 2005
GlycoFi and Merck & Co., Inc. Enter into Broad Strategic Alliance for Research and Development
Forbes.com - December 12, 2005
Pharma's Little Helper
Lebanon, NH - October 10, 2005
Glycofi Closes Oversubscribed $11 Million Venture Round
Lebanon, NH - October 3, 2005
Eli Lilly & Company and GlycoFi Expand Collaboration With Multi-Product Research and Commercialization Agreement
Lebanon, NH - June 2, 2005
GlycoFi Strengthens Management Team; Appoints James Posada, Ph.D., MBA as Senior Vice President of Business and Market Development
Lebanon, NH - April 13, 2005
Glycofi Signs Research Collaboration with Centorcor, Inc. to Evaluate the Expression of Two Proteins
Lebanon, NH and Cambridge, MA - March 21, 2005
Glycofi, Inc. Strengthens Management Team; Names Richard Fisher, Ph.D. VP of Research and Product Development
Lebanon, NH and Cambridge, MA - March 21, 2005
2005 GlycoFi is pleased to announce that Richard Fisher, Ph.D. has joined GlycoFi as Vice President of Research and Product Development
Lebanon, NH and Cambridge, MA - March 16, 2005
Dr. Bryan Lawlis Joins Glycofi Board of Directors
Lebanon, NH - November 8, 2004
GlycoFi, Inc. Named a “Business Leader” on the “Scientific American 50”
Lebanon, NH - VentureWire - October 6, 2004
GlycoFi Replaces CEO; Shifts Focus To In-House Development
Lebanon, NH - April 8, 2004
Lilly to Evaluate GlycoFi's Glycoprotein Production Platform
Lebanon, N.H - VentureWire - December 9, 2003
GlycoFi Raises $10 M Series C
Lebanon, NH and Cambridge, MA -- November 10, 2003
GlycoFi Signs Collaboration with Biogen
Lebanon, NH – September 24, 2003
GlycoFi Awarded $1M NIH Grant to Aid in the Production of Therapeutic Proteins in Yeast
Nature News Service- August 29, 2003
GlycoFi, Inc. in Nature News Service:
Science - August, 2003
GlycoFi, Inc. in The Journal of Science:
LEBANON, NH - August 28, 2003
GlycoFi, Inc. Reports the First Successful Production of a Human Protein with Complex Glycosylation in a Genetically Modified Yeast
LEBANON, NH - July 1st, 2003
GlycoFi Appoints Margaret Worden to Vice President of Clinical Product Development
DEERFIELD, Ill., and LEBANON, NH - May 21, 2003
Baxter and GlycoFi to Collaborate on Development of New Platform for Manufacturing of Human therapeutic Proteins
Lebanon, NH - April 15, 2003
GlycoFi Achieves Major Milestone Toward Producing Fully Humanized Protein Therapeutics in Fungal Systems
Lebanon, NH - October 9, 2002
Glycofi Awarded $2M to Develop Novel Protein Production Technology
HANOVER, NH - April 29, 2002
Glycofi Grabs $7 M Series B Round
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