Drug Development Company Glycotek Moves into the Hershey Center for Applied Research

For Immediate Release

Media Contact:
Sharon O'Shea
610-934-7567
sharon@0to5.com

Newest tenant developing anti-coagulant drug compounds in oral form

HERSHEY, PA – November 10, 2008 – The Hershey Center for Applied Research (HCAR) announced today that Glycotek, LLC has established its laboratory on the HCAR campus, Building One. Glycotek is developing a technology that will contribute to clinical medicine a long-sought alternative to heparin which currently must be administered in a hospital setting. A glycosaminoglycan (GAG) technology will be used to develop oral alternatives to heparin, for the treatment of deep vein thrombosis and other thrombotic conditions, and also cancer. The company will pursue both business and research and development activities at HCAR, building upon the activities already in progress at its New York location.

“The HCAR team has been extremely helpful in ensuring that we have the right laboratory facilities and resources that will support our growth,” said Sigmund E. Lasker, Ph.D., Founder and CEO of Glycotek.  “We have long been aware of the strengths of the Penn State Milton S. Hershey Medical Center and College of Medicine, but discovering such an exciting research park within very close proximity has been a great advantage for us. Dr. Dhimant Desai, Dr. Shantu Amin and the entire Glycotek team are very excited about this development for our company.”

Approximately 2 million Americans per year are afflicted with various forms of thrombotic conditions—approximately 2% of the adult population.  More than 200,000 Americans die annually from stroke, myocardial infarctions, or pulmonary emboli as a result of thrombosis—representing 10% of all deaths in the U.S. and 21% of all cardiovascular related deaths.  An oral version of heparin would present clinical potential for patients with chronic thrombotic conditions by removing the need for constant coagulation monitoring and dose titration.  Also, expensive additional hospitalization days to maintain patients on heparin following heart attacks can be minimized with heparin that could be taken by mouth.

“From medical devices to drug development, we are housing some of the best and brightest new companies in life sciences,” said Laura Butcher, Executive Director of HCAR.  “The introduction of an oral heparin into clinical medicine would be a significant development and would have commercial, therapeutic and economic potential.  We are pleased that Glycotek will take on this important challenge while at HCAR.”

Glycotek’s HCAR address is:

Glycotek, LLC
Hershey Center for Applied Research
1214 Research Boulevard, Suite 1012
Hummelstown, PA 17036

About the Hershey Center for Applied Research
Hershey Center for Applied Research (HCAR) provides resident organizations with state-of–the-art facilities and high-value business and research resources that enable growth escalation. In addition to its wet and dry lab facilities and office space in a campus-like setting in Hershey, PA, HCAR provides facilitated access to research expertise, especially in the areas of research discovery, development and commercialization; access to Penn State Milton S. Hershey Medical Center and College

 
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