Glenmark receives $5 mn milestone payment from Sanofi

It has already received $50 million from Sanofi as an upfront payment

Glenmark Pharmaceuticals Ltd, through its Swiss subsidiary, has received $5 million as milestone payment from Sanofi on a collaboration regarding its VLA2 (alpha2-beta1) integrin monoclonal antibody.

GBR 500 is a first-in-class therapeutic monoclonal antibody for chronic autoimmune disorders.

Glenmark has already received $50 million from Sanofi as an upfront payment in FY2011-12. Hence, the total amount received by Glenmark from Sanofi for its first in class VLA-2 monoclonal antibody is $55 million, said a company statement.

Glenmark shares went up 0.73 % at Rs 578.5 intraday on BSE.

Last month, the company had received $4 million as research fee payment from Forest Laboratories Inc. The collaboration with Forest is for the development of novel mPGES-1 inhibitors to treat chronic inflammatory conditions, including pain. So far, Glenmark has received a total amount of $15 million from Forest Laboratories towards its novel mPEGS-1 inhibitors.