Ichnos Sciences inks licensing pact with Astria Therapeutics
Glenmark arm will receive $320 mn (over Rs 2,660 crore) for its OX40 antagonist monoclonal antibody portfolio for use in inflammatory and immune diseases
New Dlehi: Glenmark Pharmaceuticals Ltd on Thursday said its wholly-owned arm Ichnos Sciences has signed an exclusive worldwide licensing agreement with Astria Therapeutics for its OX40 antagonist monoclonal antibody portfolio for use in inflammatory and immune diseases, and will receive $320 million (over Rs 2,660 crore).
With the execution of this agreement, Ichnos has successfully licensed its two assets for inflammatory and immunological diseases, a key milestone in the company’s prioritisation of its pipeline of oncology drug candidates, Ichnos Sciences said in a statement filed on BSE by Glenmark. Under the agreement, Astria -- a biopharmaceutical company developing therapies for rare allergic and immunological diseases -- will assume full cost and responsibility for the global development and commercialisation of the licensed therapeutic programme for all indications.
