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Glenmark launches new cancer drug molecule

Company expected to start clinical studies for drug GBR 1302 during this fiscal year

BS Reporter  |  Mumbai 

Mumbai-based Pharmaceuticals Ltd, innovator of new drug molecules, has entered into cancer treatment space with its latest discovery of a new drug molecule.

Pharmaceuticals SA, its Switzerland-based research unit, has initiated studies of a novel clinical development candidate-GBR 1302-discovered and developed by its biologics research centre.

is expected to start clinical studies for the drug during this fiscal year. Similar to other molecules, Glenmark plans to outlicense this oncology molecule to multinational players. Earlier, Glenmark had outlicensed its drug molecules in therapeutic areas of diabetes and pain management like Forest Laboratories, Merck KgaA and Sanofi.

Glenmark Pharmaceuticals rose 4.1% to touch a 52-week high of Rs 749.05 intraday on BSE after the announcement was made. Shares were closed at Rs 722.35, up by 0.40%.

According to company statement, is based on Glenmark's innovative BEAT antibody technology platform which facilitates the efficient development and manufacture of antibodies with dual specificities, so-called bispecific antibodies.

"is significant for Glenmark on multiple levels as it is our first bispecific antibody, it represents the entry of Glenmark into the oncology innovator space, which has a huge commercial potential," said Michael Buschle, chief scientific officer and president, biologics, Glenmark Pharmaceuticals.

Glenmark's is a novel similar to other trastuzumab, and emtansine, used for breast and treatment.

First Published: Wed, August 20 2014. 18:08 IST