Friday, May 31, 2013
Scott E. Strome, M.D., Professor and Chair of the Department of Otorhinolaryngology - Head & Neck Surgery, at the University of Maryland School of Medicine, was selected as an inaugural recipient of the 2013 University System of Maryland Board of Regents Entrepreneur of the Year Award. The award was presented on Tuesday, May 14, at the new John and Frances Angelos Law Center. In addition to Dr. Strome, the regents honored Neil Goldsman and Martin Peckerar, both professors from the Department of Electrical and Computer Engineering at the University of Maryland, College Park.
The new Entrepreneur of the Year Award is part of the University System of Maryland (USM) Strategic Plan 2020, a goal of which is to increase technology commercialization and advance industry collaboration amongst USM. The honorees’ entrepreneurial successes were recognized and celebrated at the event. All three succeeded with the support of the initiative UM Ventures, a joint effort of the University of Maryland, Baltimore and the College Park campus, aimed at transforming research outcomes from the laboratory into products and services, tools and diagnostics that will benefit society.
"We are delighted to recognize these three outstanding entrepreneurs. Their innovative work, and the establishment of this annual event, reflects so well on the opportunities before us as the USM makes technology commercialization a priority throughout our institutions," says Gary L. Attman, Chair of the Board of Regents Committee on Economic Development and Technology Commercialization. "We want the world to know that the USM is open for business."
Dr. Strome was honored for co-founding the biotech start-up company Gliknik, Inc., in 2007 with David S. Block M.D., M.B.A. The company develops new therapies for patients with cancer and immune disorders. Headquartered at the University of Maryland BioPark in West Baltimore, Gliknik currently holds the commercial rights to two cancer immunomodulator drugs that are in multiple dose clinical trials in patients with advanced head and neck cancer and in patients with advanced multiple myeloma. In addition, in collaboration with Dr. Strome, the company has designed a drug product which has the potential to replace the anti-inflammatory uses of intravenous immunoglobulin, a pooled blood product in short supply.
“I am excited by Gliknik’s cancer and anti-inflammatory programs,” says Dr. Strome. “Both programs are based on platform technologies which have the potential to improve the quality and quantity of life of our patients and lead to new insights regarding the underlying biology of disease. Furthermore, the founding of this award establishes entrepreneurship as a valid academic pursuit at the University of Maryland.”
Gliknik has raised $15 million in equity and $3 million in non-dilutive capital. The company collaborates closely with the University of Maryland, Baltimore Office of Research and Development and the new UM Ventures.
“A major goal of the University of Maryland School of Medicine is to take research from the laboratory and translate it into new treatments that can affect the lives of patients and their families, relieving the symptoms of disease and saving lives,” says E. Albert. Reece, M.D., Ph.D., M.B.A., Vice President for Medical Affairs at the University of Maryland and John Z. and Akiko K. Bowers Distinguished Professor and Dean of the School of Medicine. “Often, entrepreneurship is the path to accelerating discovering and taking research from the bench to the clinic. Dr. Strome’s success with Gliknik Inc. makes him an outstanding model for our other faculty and students, and we are delighted to see him honored with this distinguished award.”
Several sponsors made possible the inaugural Board of Regents Entrepreneur of the Year Award reception and ceremony. Those sponsors include Whiting Turner, BioHealth Innovation, Maryland Department of Business and Economic Development, the Technology Development Corporation (TEDCO), and Corporate Office Properties Trust. Other critical sponsors are directly connected to the University System of Maryland itself: the University of Maryland Biopark; the University of Maryland Baltimore Foundation, Inc.; and the University of Maryland College Park Foundation.