This alliance brings together drug innovation capabilities of Glenmark and Ichnos to develop cutting-edge therapies for the treatment of hematological malignancies and solid tumors
The synergies derived from this alliance will substantially reduce Glenmark's investment in innovative research. (Credit: Tatiana from Pixabay)
Glenmark Pharmaceuticals, a leading, research-driven, global pharmaceutical company, and Ichnos Sciences Inc. (Ichnos), its global fully integrated, clinical-stage biotech subsidiary, today announced the launch of their alliance – Ichnos Glenmark Innovation – to accelerate new drug discovery in cancer treatment.
This alliance 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.
The newly formed 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 U.S. FDA. Additionally IGI has two autoimmune disease assets that have been out licensed to leading companies.
Harnessing the combined proficiency of over 150 scientists, IGI will leverage the capabilities of its three global centers of innovation. These comprise the Ichnos’ headquarters in New York City, NY, USA, 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.
“We are proud to announce the Ichnos Glenmark Innovation alliance, which brings together the legacy of Glenmark and passion of Ichnos to accelerate the search for curing cancer. Innovation is an integral part of our organization’s fabric and through IGI, we are confident of getting closer to our quest to develop a novel cancer drug for the world. Additionally, this will also enhance shareholder value by optimizing the cost of development.” remarked Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals Ltd.
Cyril Konto, President and CEO, Ichnos Glenmark Innovation, said, “Ichnos Glenmark Innovation is a collaborative venture backed by a strong, collective pipeline of novel multispecifics and small molecules. Supported by an experienced leadership and comprising a team that ardently believes in challenging the frontiers of science, IGI seeks to accelerate drug development by combining technologies, expertise, and forces while leveraging Glenmark’s footprint in India. We look forward to joining hands with other like-minded entities, including biotech companies and academia.”
Source: Company Press Release