Ichnos Glenmark Innovation announces Global Commercialization Strategy for ISB 2001 Following Licensing Deal with AbbVie

Ichnos Glenmark Innovation, Inc. (IGI), a global, fully integrated clinical-stage biotechnology company focused on developing multispecificsTM in oncology, today announced its global commercialization strategy for its lead investigational asset, ISB 2001developed using IGI's proprietary BEAT® protein platform, for oncology and autoimmune diseases. This follows the execution of an exclusive licensing agreement with AbbVie (NYSE: ABBV).

Under the terms of agreement, IGI partners with AbbVie and grants exclusive rights to globally develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China while Glenmark Pharmaceuticals will develop, manufacture and lead commercialization 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.

"Our collaboration with AbbVie and Glenmark reflects IGI's mission to accelerate access to transformative multispecificsTM for patients worldwide," said Cyril Konto, M.D., President, Executive Director and CEO of IGI. "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."

"At Glenmark, we are committed to expanding access to innovative cancer treatments across Emerging Markets where unmet need and growth potential intersect," said Christoph Stoller, President - Europe and Emerging Markets, Glenmark Pharmaceuticals. "The addition of ISB 2001 is a natural evolution of our oncology strategy. With our deep commercial footprint, strong regulatory capabilities, and experience in launching breakthrough assets like BRUKINSA® and TEVIMBRA® in India, and rights to commercialize QiNHAYO® (envafolimab), a PD-L1 checkpoint inhibitor, in Emerging Markets, we are well positioned to deliver impactful treatment option for patients with difficult-to-treat cancers through ISB 2001."

This strategic collaboration marks a defining milestone in IGI's scientific journey, accelerating ISB 2001's path to patients and sharpening the focus on advancing the next generation of BEAT®-enabled assets in oncology.

Shares of Glenmark Pharmaceuticals Limited was last trading in BSE at Rs. 1905.15 as compared to the previous close of Rs. 1817.95. The total number of shares traded during the day was 96575 in over 7322 trades.

The stock hit an intraday high of Rs. 1919.00 and intraday low of 1816.45. The net turnover during the day was Rs. 181706866.00.

Source : Equity Bulls

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GlenmarkPharmaceuticals INE935A01035 IchnosGlenmarkInnovationInc GlobalCommercialization