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Glenmark enters licencing deal with US firm APC Therapeutics for cancer molecule

LiveMint logoLiveMint 21-06-2017 Isha Trivedi

Mumbai: Glenmark Pharmaceuticals Ltd on Wednesday said it has entered into a licencing agreement with US-based APC Therapeutics Inc. for exclusive rights to the latter’s cancer molecule.

As per the agreement, Glenmark will manage the entire clinical development, including regulatory filings and commercialization worldwide, for the in-licensed molecule from APC Therapeutics, the Mumbai-based pharmaceutical company said in a press release on Wednesday.

APC Therapeutics will receive development milestone payments and sales royalty payments from Glenmark. The financial details of the agreement were not disclosed by the companies.

The in-licensed small molecule immuno-oncology compound, based on Antigen Presenting Cell (APC) biology, has the potential to be used as a monotherapy or in combination with approved therapies for cancer treatment, Glenmark said.

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“This asset adds to our robust biologics pipeline of targeted IO (immuno-oncology therapies,” Kurt Stoeckli, president and chief scientific officer of Glenmark, said. “The mechanism of action of APC biology is very intriguing and has the potential to be transformative in cancer treatment by triggering powerful immunologic responses to tumours that may lead to deeper and more durable responses to treatment,” he added.

The global oncology market is projected to exceed $150 billion by 2020, according to data from IMS Health. The shift from short-term cytotoxic treatments towards precision medicines, notably immune-oncology agents that have the potential to provide substantial increase in long-term survival, is driving growth, the company said.

Shares of Glenmark on Wednesday closed at Rs628.70, 0.05% higher on the BSE.

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