Glenmark and Ichnos Launch Alliance for Breakthrough in Cancer Treatments

31 Jan 2024 , 01:37 AM

In an effort to speed up the search for novel cancer treatments drugs, Glenmark announced on Tuesday that it has formed a partnership with Ichnos Sciences, its clinical stage biotech business.

‘We are optimistic about making progress in our endeavour to create an innovative cancer medication for global use,’ stated Glenn Saldanha, the chairman and managing director of Glenmark.

Saldanha continued, ‘Plus, by optimizing the cost of development, this will also enhance shareholder value.’

Targeting solid tumours, acute myeloid leukemia, and multiple myeloma, IGI has a strong pipeline of three cutting-edge oncology medicines that are presently undergoing clinical studies. This compound has been designated by the USFDA as an orphan medication.

Furthermore, IGI has two autoimmune disease assets that are under exclusive license to top businesses.

With more than 150 scientists, the new organization will make use of its three international innovation hubs.

These include the biologics research centre in Lausanne, Switzerland; Glenmark’s small molecule research centre at Mahape near Mumbai, India; and the Ichnos headquarters in New York, US, which focuses on clinical development.

In October 2019, Glenmark separated its biotech R&D division into Ichnos, a distinct company, with the goal of focusing on innovative R&D, pursuing funding sources, and making the division self-sustaining.

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