Glenmark Looks To License Out Second Drug Asset

Glenmark Chairman And Managing Director Glenn Saldanha Said One Of The Corporate Objectives Of The Mumbai-Headquartered Company Is To Do At Least One Or Two Licensing Deals From Its Innovative Pipeline In Fy21.Drug Maker Glenmark Is In Discussions With Some Global Peers To License Out A Second Potential Drug Asset, Isb 830, From Its Us-Based Clinical Stage Biotech Subsidiary Ichnos Sciences Days After Concluding An Out-Licensing Deal With Spanish Firm Almirall. Glenmark Chairman And Managing Director Glenn Saldanha Said One Of The Corporate Objectives Of The Mumbai-Headquartered Company Is To Do At Least One Or Two Licensing Deals From Its Innovative Pipeline In Fy21.Monoclonal Antibody Used To Treat A Skin Disease Called Atopic Dermatitis - Has Completed The Proof-Of-Concept Studies On Patients In The Us. Early This Week, Ichnos Had Entered Into An Exclusive Agreement With Almirall To Out-License Its Novel Monoclonal Antibody Therapy Isb 880, Used In Treatment Of Autoimmune Diseases. The Deal Involved Upfront Payment Of $25 Million In Addition To Development Milestone Payments And Royalties On Sales If The Drug Achieves Marketing Authorisation. Licensing Deals Are Nothing New For Glenmark. It Had Earlier Raised $250 Million Through Eight Out-Licensing Deals To Companies Including Merck, Eli Lilly, Sanofi And Forest Laboratories, But This Amount Does Not Cover All The Costs. And Much Of That Was Again Ploughed Back Into Drug Discovery. Self-Sustaining R&D Licensing Deals Are Critical For Glenmark'S Strategy Of Making Its Drug Discovery Activity Self-Sustaining. "We Are Working On One; We Will Continue To See Additional Licensing Deals And Income Streams, Which Will Make It Self-Sustaining," Saldanha Said. Glenmark Has Been Weighed Down By High R&D Expenses. The Company Each Year Spends Over $100 Million On Innovative Research, And The Spend Only Increases As The Assets Go For Late-Stage Clinical Trials, Which Call For Tests On A Large Number Of Patients Across Multiple Locations

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