Glenmark's research arm will be self-funded soon

Pharma major evaluating opportunities to out-license key cancer asset ISB-2001

- SOHINI DAS

Pharma major Glenmark's innovation and research arm will soon be self-funded, as the Mumbai-headquartered company is looking to out-license one of its key cancer assets (ISB-2001) within the next few months. The company's chairman and managing director Glenn Saldanha, told Business Standard that after the deal, Glenmark would not need to fund its innovation arm Ichnos Glenmark Innovation (IGI) anymore.

"Very clearly, we are hoping to conclude something in this year and after that, IGI will be self-funded and adequately funded to support its research and development (R&D) activities going forward," Saldanha said.

He has fought a long battle to pursue his ambitions around innovation, and has already tasted success with several key partnerships it forged with players like Almirall and Astria for innovation assets.

Saldanha says that ISB-2001 is going to be a game-changer for the company and its innovation story. The candidate is targeted to fight against multiple myeloma (MM) and in July 2023, had received orphan drug designation from the USFDA for the treatment of MM.