The alliance called as Ichnos Glenmark Innovation (IGI) combines Glenmark’s research and development proficiencies in small molecules with those of Ichnos in novel biologics to continue developing cutting-edge therapy solutions that treat hematological malignancies and solid tumors.
“We are confident of getting closer to our quest to develop a novel cancer drug for the world,” said Glenn Saldanha, chairman and managing director, Glenmark.
“Additionally, this will also enhance shareholder value by optimizing the cost of development.,” Saldanha added.
IGI features a robust pipeline of three innovative oncology molecules targeting multiple myeloma, acute myeloid leukemia and solid tumors currently undergoing clinical trials. Two of these molecules have received orphan drug designation from the USFDA.
Additionally IGI has two autoimmune disease assets that have been out-licensed to leading companies.The combined entity has over 150 scientists, and will leverage the capabilities of its three global centers of innovation.These comprise the Ichnos’ headquarters in New York, US, which is focused on clinical development; the biologics research center in Lausanne, Switzerland, and Glenmark’s small molecule research center at Mahape in Mumbai, India.
Glenmark spun-off its biotech R&D assets, into a separate entity called Ichnos in October 2019, with an intention to make novel R&D self-sustaining, bring focus, and pursue fund raising options.
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