Glenmark and Ichnos take a collaborative leap to accelerate innovation in Cancer Treatment with their alliance - 'Ichnos Glenmark Innovation'
PRNewswire
Mumbai (Maharashtra) [India], January 31: Glenmark Pharmaceuticals Ltd. (Glenmark), 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."
IGI - Brand Identity:
IGI's brand identity succinctly expresses its belief. The letters IGI combine the graphic of a compass to suggest how collaboration guides IGI towards innovation. The brand line 'Collaboration propels innovation' completes the message. This new alliance promises myriad new possibilities for Glenmark, Ichnos and the world at large.
Ichnos Glenmark Innovation - Asset Pipeline:
Oncology Pipeline
IGI's pipeline houses an exciting platform of novel biologics and small molecules targeting the spectrum of hematological cancers and solid tumors.
Autoimmune Disease Pipeline
The autoimmune disease assets were out licensed to enable greater focus on oncology.
About Glenmark Pharmaceuticals Ltd.
Glenmark Pharmaceuticals Ltd. (BSE: 532296) (NSE: GLENMARK) is a research-led, global pharmaceutical company, having a presence across Branded, Generics, and OTC segments; with a focus on therapeutic areas of respiratory, dermatology and oncology. The company has 10 world-class manufacturing facilities spread across 4 continents, and operations in over 80 countries. In Vivo/Scrip 100 positions Glenmark amongst the Top 100 Companies Ranked by R&D and Pharmaceutical Sales, 2022; while Generics Bulletin/In Vivo places it in the Top 50 Generics and Biosimilars Companies Ranked by Sales, 2022. The company has also been Great Place To Work® Certified™ in India for FY 2023. Glenmark's Green House Gas (GHG) emission reduction targets have been approved in 2023 by the Science Based Target initiative (SBTi), making it only the second pharmaceutical company in India to achieve this. The organization has impacted over 2.9 million lives over the last decade through its CSR interventions. For more information, visit www.glenmarkpharma.com. You can follow us on LinkedIn (Glenmark Pharmaceuticals) and Instagram (glenmark_pharma).
About Ichnos Glenmark Innovation
Ichnos Glenmark Innovation (IGI) is an alliance between Ichnos Sciences Inc., a global fully-integrated clinical-stage biotech company developing multispecifics™ in oncology, and its parent, Glenmark Pharmaceuticals Ltd. (Glenmark), with the aim to accelerate new drug discovery in cancer treatment. IGI combines Ichnos' research and development proficiencies in novel biologics with those of Glenmark's in new small molecules to continue developing cutting-edge therapy solutions that treat hematological malignancies and solid tumors. Harnessing the combined proficiency of over 150 scientists and a robust pipeline of novel molecules, this collaboration will leverage the capabilities of its three global centers of innovation spread across the USA, Switzerland and India to propel Innovation.
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