+1-888-308-5802     
Industry Categories News Contact Us

Glenmark & Harbour BioMed team up, develop cancer antibodies in China

Author : Ojaswita Kutepatil | Published Date : 2018-08-08 

Mumbai-based Glenmark Pharmaceuticals has reportedly announced an exclusive license agreement with China-based Harbour BioMed. The deal, worth more than $120 million, showcases China’s willingness to transform healthcare by encouraging innovation.

Sources cite that the agreement aims at developing, producing & commercializing Glenmark’s GBR 1302 drug for the greater China region where the prevalence of certain HER2 positive cancer cases generates a clinical need.

A press release by Glenmark Pharma states that the GBR 1302 is a part of Glenmark’s patented BEAT platform and is a bispecific antibody that targets CD3 & HER2. It is utilized for the treatment of HER2 positive cancers. The drug is reportedly undergoing enrollment in the U.S. & Germany, and works by stimulating the immune system to fight against the HER2 overexpressing tumor cells.

The company would receive an upfront payment and payments on achieving certain development level, commercial & regulatory milestones, tiered royalties from Harbour BioMed on product sales.

Glenmark Chairman and MD, Glenn Saldanha expressed his delight about establishing this strategic relationship with Harbour BioMed whose extensive local experience will aid Glenmark in discovering, developing & innovating drugs for certain unfulfilled medical needs.

Harbour BioMed Founder & CEO, Dr. Jingsong Wang stated that this partnership aligns with their plan of leveraging company’s expertise in clinical development by in-licensing innovative clinical-stage products. He further added that the GBR 1302 compliments their internal portfolio of innovative antibody therapeutics.

Glenmark President and Chief Scientific Officer, Kurt Stoeckli stated that both companies follow the same principles and possess a common vision of developing highly effective & precise medicines to help cancer patients. He added that they look forward to achieving this goal together.

Post the announcement, Glenmark Pharma started trading 0.91% higher at about Rs. 602 per share, cite trusted sources.

About Author

Ojaswita Kutepatil

Ojaswita Kutepatil

Ojaswita Kutepatil, a mechanical engineer by qualification, worked as a BDE and Technical Engineer before switching her profession to content writing. Currently, she works at AlgosOnline. as an Content writer, where she pens down write-ups pertaining to the market research industry. Crafting, reading, and music are some of her other areas of interest.

Related News

Constellation Brands to invest about USD 4B into Canada’s Canopy Growth

Published Date: 2018-08-16         Author: Ojaswita Kutepatil

Constellation Brands, one of the world’s largest wine makers has reportedly invested around USD 4 billion (GBP 3.13 billion) in Canada's top cannabis producing company, Canopy Growth. Sources claim that this deal valuation is apparently one of the largest investments recorded in this indus... Read More

Amazon India now procures total cash infusion of USD 1 billion

Published Date: 2018-08-15         Author: Ojaswita Kutepatil

Post having received an infusion of Rs 2,600 crore into the marketplace in May 2018, Amazon India recently announced the infusion of an additional Rs 2,700 crore by the parent firm. Post this move, Amazon’s overall infusion has successfully hit the $1 billion mark since the beginning of 2018. ... Read More

Paytm and Alibaba’s AGTech pour in USD 16 million in Gamepind

Published Date: 2018-08-13         Author: Ojaswita Kutepatil

Gamepind, a gaming joint venture owned by Paytm’s parent company One97 communications and the Alibaba Group-owned gaming and entertainment company AGTech Holdings has reportedly received a funding of USD 16 million. Sources claim that the investment has been provided in a bid to improve the ga... Read More

© 2018 Fractovia. All Rights Reserved