Ichnos Glenmark, AbbVie ink licensing deal for commercialisation of investigational asset

New Delhi, Jul 10 (PTI) Glenmark Pharmaceuticals Ltd on Thursday said its arm Ichnos Glenmark Innovation, Inc has signed a licensing agreement with AbbVie for commercialisation of its lead investigational asset 'ISB 2001' targeted for treatment of cancer and autoimmune diseases.

ISB 2001 has been developed using Ichnos Glenmark Innovation's (IGI) proprietary 'BEAT protein platform' for oncology and autoimmune diseases, Glenmark Pharmaceuticals said in a regulatory filing.

Under the agreement, IGI grants AbbVie exclusive rights to globally develop, manufacture, and commercialise ISB 2001 across North America, Europe, Japan, and Greater China.

On the other hand, Glenmark Pharmaceuticals will develop, manufacture and lead commercialisation of ISB 2001 across emerging markets, including the rest of Asia, Latin America, the Russia/CIS region, the Middle East, Africa, Australia, New Zealand and South Korea, the company said.

Commenting on the pact, IGI MD, President, Executive Director and CEO Cyril Konto said, "Our collaboration with AbbVie and Glenmark reflects IGI's mission to accelerate access to transformative multispecific sTM for patients worldwide. AbbVie's reach in major markets combined with Glenmark's commercial strength in emerging markets creates complementary access pathways for ISB 2001, a trispecific T-cell engager with promising potential in multiple myeloma." Glenmark Pharmaceuticals President - Europe and Emerging Markets, Christoph Stoller, said, "The addition of 'ISB 2001' is a natural evolution of our oncology strategy." PTI RKL SHW