Baltimore-based Glyscend Inc. was awarded one of three $500,000 research grants from Johnson & Johnson Innovation LLC and its research arm Janssen as part of the health care giant's World Without Disease QuickFire Challenge.
Glyscend was spun out of Johns Hopkins University and continues operations as part of the Johns Hopkins Technology Ventures program. The company is currently in the process of raising a Series A funding round, with a goal of between $5 million and $10 million. The Johnson & Johnson (NYSE: JNJ) grant money will help the company reach its goal, said Ashish Nimgaonkar, co-founder and CEO.