Glenmark announces discovery of new oncology molecule
Mumbai: Glenmark Pharmaceuticals on Thursday announced the discovery of a new molecule for oncology treatment and said it would file an application for phase-I trials in the fourth quarter of FY12.
Developed at Glenmark’s Switzerland-based research centre, the GBR 401 molecule is an anti-CD19 monoclonal antibody primarily targeted for treating lymphoma and leukemia of B-cell origin, the drugmaker said in a statement.
In addition, the molecule also has potential to treat disorders like rheumatoid arthritis, it added.
The molecule is in the same segment of anti-cancer biotech product rituximab, which had annual global sales of $6 billion, it added.
“We are confident that the antibody expertise and product development capabilities of our research centre would continue to enrich Glenmark’s discovery pipeline,” Glenn Saldanha, chief executive and managing director, Glenmark Pharmaceuticals, said in a statement.
In November last year, Glenmark Pharma had announced the completion of phase-III trials of its own drug Crofelemer used in the treatment of HIV-associated diarrhoea.
At 10:28 a.m., shares of Glenmark Pharmaceuticals were trading at Rs 289.2, up 2.72% in a firm Mumbai market.