Glenmark Pharmaceuticals’ step-down wholly-owned subsidiary - Ichnos Glenmark Innovation’s (IGI) wholly owned subsidiary IGI Therapeutics SA and AbbVie have entered into an exclusive licensing agreement for IGI’s lead investigational asset, ISB 2001, developed using IGI’s proprietary BEAT protein platform, for oncology and autoimmune diseases.
Under the terms of the agreement, AbbVie will receive exclusive rights to develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China. Subject to regulatory clearance, IGI will receive an upfront payment of $700 million and is eligible to receive up to $1.225 billion in development, regulatory, and commercial payments, along with tiered, double-digit royalties on net sales.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
