Glenmark Unit Signs Exclusive Licensing Pact With AbbVie For Cancer Drug
Under the pact, Glenmark's innovation arm has partnered with AbbVie to globally manufacture ISB 2001, a drug used in cancer treatment.
Glenmark Pharmaceuticals Ltd. on Thursday said a unit linked to the company's innovation arm has signed an exclusive license agreement with American drugmaker AbbVie to develop, manufacture, and commercialise ISB 2001, which is a cancer drug.
The pact has been inked by IGI Therapeutics SA, an arm of Ichnos Glenmark Innovation, which is a collaboration between Glenmark Pharma and Ichnos Sciences Inc.
Under the terms of agreement, IGI has partnered with AbbVie to grant exclusive rights to "globally develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China", a release stated.
Also, as per the pact, 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.
Notably, ISB 2001 has been developed using IGI's proprietary BEAT protein platform, and is used as a treatment option for patients with difficult-to-treat cancers, according to the company.
“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," Cyril Konto, president, executive director and CEO of IGI.
“At Glenmark, we are committed to expanding access to innovative cancer treatments across emerging markets where unmet need and growth potential intersect,” added Christoph Stoller, president – Europe and Emerging Markets, Glenmark Pharmaceuticals.
