August 30, 2014 4:58 AM ET

Biotechnology

Company Overview of GlycoGenesys Inc.

Company Overview

On December 30, 2009, GlycoGenesys, Inc. went out of business as per its Chapter 7 liquidation filing under bankruptcy. GlycoGenesys, Inc. engages in the research and development of carbohydrate-based products, as well as related technologies in the area of oncology. Its lead product candidate includes GCS-100, a phase II clinical trial product, which would be used for the treatment of solid tumors and bloodborne cancers. The company was founded in 1987. It was formerly known as IGG International, Inc. and changed its name to SafeScience, Inc. in 1998; and then to GlycoGenesys, Inc. in 2001. GlycoGenesys is headquartered in Boston, Massachusetts.

Park Square Building

31 St James Avenue 8th Floor

Boston, MA 02116

United States

Founded in 1987

Phone:

617-422-0674

Fax:

617-422-0675

Key Executives for GlycoGenesys Inc.

GlycoGenesys Inc. does not have any Key Executives recorded.

GlycoGenesys Inc. Key Developments

SEC Revokes Registration Of Registered Securities Of GlycoGenesys

The registration of the registered securities of GlycoGenesys Inc. has been revoked. The Company had repeatedly failed to file required annual and quarterly reports with the Securities and Exchange Commission (SEC). Thus, the Company violated a crucial provision of the federal securities laws that requires public corporations to publicly disclose current, accurate financial information so that investors may make informed decisions. The revocation was ordered in an administrative proceeding before an administrative law judge.

SEC Orders Hearing On Registration Suspension Or Revocation Against GlycoGenesys

In conjunction with trading suspension, the Securities and Exchange Commission (SEC) also instituted public administrative proceeding to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of GlycoGenesys Inc. for failure to make required periodic filings with the Commission. In this Order, the Division of Enforcement (Division) alleges that the company is delinquent in its required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceeding.

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