Subsidiary of Glenmark Pharma strikes exclusive deal; stock gains 1.47%

Ichnos Sciences, a wholly-owned subsidiary of Glenmark Pharmaceuticals, is a leading global biotechnology company specialising in innovative multispecific antibodies for oncology, has recently unveiled an exclusive worldwide licensing agreement. This agreement with Astria Therapeutics, a biopharmaceutical company dedicated to developing therapies for rare allergic and immunological diseases, marks a pivotal moment in Ichnos’s commitment to advancing its pipeline of oncology drug candidates.

Under the terms of the agreement, Astria will undertake complete responsibility for the global development and commercialization of the licensed therapeutic program for all indications. In return, Ichnos stands to gain significant benefits, including upfront payments, and developmental, regulatory, and sales-related milestone payments that could cumulatively reach a substantial USD 320 million. Additionally, Ichnos has allowed Astria to access its existing investigational drug substances and drug product stocks at normalized costs, facilitating the developmental process.

Central to this agreement is telazorlimab, a cutting-edge humanized IgG1 monoclonal antibody designed to target OX40 on T-cells. OX40, expressed on activated T cells, plays a pivotal role in inflammatory and immune-related diseases such as atopic dermatitis (AD). Astria’s strategic plan involves the development of an affinity-matured version of telazorlimab, complemented by YTE half-life extension technology. This combined approach aims to deliver a treatment for AD that is not only safe and effective but also requires less frequent administration, addressing a significant need in the medical community.

This partnership reflects the commitment of both Ichnos Sciences and Astria Therapeutics to advance medical science and meet the pressing needs of patients, particularly in the domains of immunology and rare allergic diseases. By combining their expertise, these two companies are set to make remarkable strides in the field of biotechnology, offering hope to those affected by these conditions.

About the company

Glenmark Pharmaceuticals Ltd is a renowned global pharmaceutical company known for its research-driven approach. With a footprint spanning across generics, speciality pharmaceuticals, and over-the-counter (OTC) products, the company operates in more than 80 countries worldwide.

Furthermore, the stock has witnessed significant buying activity as it has given multi-bagger returns of more than 103% in just 1 year.

On Thursday, the shares of Glenmark Pharmaceuticals Limited soared 1.47%. The company’s current market capitalisation is Rs 22,347.72 crore.

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