Glenmark Pharmaceuticals Limited has informed the Exchange regarding a press release dated July 10, 2025, titled "Ichnos Glenmark Innovation (IGI) Announces Global Commercialization Strategy for ISB 2001 Following Licensing Deal with AbbVie".
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Glenmark's step-down wholly-owned subsidiary, Ichnos Glenmark Innovation (IGI), has signed an exclusive licensing deal with AbbVie for its lead oncology asset, ISB 2001, a first-in-class trispecific T-cell engager being developed for relapsed/refractory multiple myeloma. Under the deal, AbbVie gets exclusive rights to develop, manufacture, and commercialize the drug in North America, Europe, Japan, and Greater China, while Glenmark retains rights for Emerging Markets including most of Asia, Latin America, Russia/CIS, the Middle East, Africa, Australia, New Zealand, and South Korea. ISB 2001, built on IGI's proprietary BEAT® protein platform, is currently in Phase 1 trials, with ASCO 2025 data showing a 79% overall response rate and 30% complete response rate in heavily pretreated patients. The drug has also received FDA Orphan Drug Designation (July 2023) and Fast Track Designation (May 2025).
This is a positive development for Glenmark shareholders as it validates the company's innovation pipeline through a partnership with a global pharma major like AbbVie, potentially bringing in milestone payments and royalties. The deal also gives Glenmark commercial rights in high-growth Emerging Markets, supporting its oncology expansion strategy without bearing the full global development cost.