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HomeMarket NewsGlenmark alliance signs exclusive global licensing agreement with AbbVie for ISB 2001
Shares of Glenmark Pharma had ended at a record high on Thursday, ahead of the announcement. The stock is up 19% so far in 2025.
IGI Therapeutics SA, which is a wholly-owned subsidiary of Ichnos Glenmark Innovation (IGI), which is an alliance between Glenmark Pharma and Ichnos Sciences Inc. has signed an exclusive licensing agreement with AbbVie for IGI's lead investigational asset, ISB 2001, Glenmark Pharma said in an exchange filing on July 10.
ISB 2001 has been developed using IGI's proprietary BEAT protein platform, for oncology and autoimmune diseases.
As per the terms of the agreement, AbbVie will receive exclusive rights to develop, manufacture and commercialise ISB 2001 across North America, Europe, Japan and Greater China. IGI will receive an upfront payment of $700 million and is eligible to receive up to $1.225 billion in development, regulatory and commercial milestone payments, along with tiered, double-digit royalties on net sales.
Shares of Glenmark Pharma had ended at a record high on Thursday, with gains of 5.54% at ₹1,919.6. The stock is up 19% so far this year.
