Glenmark Pharma soars on AbbVie licensing deal for cancer therapy ISB 2001

Business Standard

11-07-2025

Glenmark Pharmaceuticals hit an upper limit of 10% to a record high of Rs 2095.65 after its subsidiary Ichnos Glenmark Innovation (IGI) unveiled a global commercialization strategy for its lead investigational oncology asset, ISB 2001.
The announcement follows a major licensing agreement with U.S. biopharma giant AbbVie.
Under the terms of the agreement, IGI will collaborate with AbbVie to develop, manufacture, and commercialize ISB 2001, a first-in-class trispecific T-cell engager designed to treat multiple myeloma. AbbVie will handle development and commercialization in North America, Europe, Japan, and Greater China. Glenmark Pharmaceuticals will take charge of manufacturing and marketing the therapy in Emerging Markets, including Asia (excluding key developed markets), Latin America, the Russia/CIS region, the Middle East, Africa, Australia, New Zealand, and South Korea.
ISB 2001, currently in Phase 1 clinical development, targets BCMA and CD38 on myeloma cells and CD3 on T cells. Developed using IGI's proprietary BEAT protein platform, the asset is engineered to enhance efficacy even at low antigen expression levels while aiming to improve safety over traditional bispecific antibodies.
Data presented at the 2025 ASCO Annual Meeting showed promising results: a 79% overall response rate and 30% complete/stringent complete response in a heavily pretreated patient population. The therapy has also received Orphan Drug Designation (July 2023) and Fast Track Designation (May 2025) from the U.S. FDA for relapsed/refractory multiple myeloma.
With this landmark deal, Glenmark is poised to strengthen its footprint in the global oncology market while expanding patient access to next-gen immunotherapies across high-need regions.
"Our collaboration with AbbVie and Glenmark reflects IGI's mission to accelerate access to transformative multispecifics for patients worldwide," said Cyril Konto, M.D., President, Executive Director and CEO of IGI. "AbbVie's reach in major markets combined with Glenmark's commercial strength in Emerging Markets, creates complementary access pathways for ISB 2001, a trispecific T-cell engager with promising potential in Multiple Myeloma."
"At Glenmark, we are committed to expanding access to innovative cancer treatments across Emerging Markets where unmet need and growth potential intersect," said Christoph Stoller, President Europe and Emerging Markets, Glenmark Pharmaceuticals. "The addition of ISB 2001 is a natural evolution of our oncology strategy. With our deep commercial footprint, strong regulatory capabilities, and experience in launching breakthrough assets like BRUKINSA and TEVIMBRA in India, and rights to commercialize QiNHAYO (envafolimab), a PD-L1 checkpoint inhibitor, in Emerging Markets, we are well positioned to deliver impactful treatment option for patients with difficult-to-treat cancers through ISB 2001."
Headquartered in New York, IGI is a global, fully integrated clinical-stage biotechnology company focused on developing innovative biologics in oncology.
Glenmark Pharmaceuticals is a research‐led, global pharmaceutical company, having a presence across Branded, Generics, and OTC segments; with a focus on therapeutic areas of respiratory, dermatology and oncology.
On a consolidated basis, Glenmark Pharmaceuticals reported a net profit of Rs 4.65 crore in Q4 March 2025 as against a net loss of Rs 1,218.28 crore in Q4 March 2024. Net sales rose 6.77% year-on-year to Rs 3220.13 crore in Q4 March 2025.