The share costs of Glenmark Pharmaceuticals surged 10% to ₹2,095.65 every, hitting the higher circuit within the course of, as quickly as markets opened on Friday (June 11, 2025) within the backdrop of an unique licensing settlement for investigational asset ISB 2001 between subsidiary Ichnos Glenmark Innovation Inc. (IGI) and NYSE-listed AbbVie.
A primary-in-class CD38×BCMA×CD3 Trispecific Antibody, ISB 2001 is being developed for oncology and autoimmune illnesses. It is presently in Phase 1 scientific trial in sufferers with relapsed/refractory a number of myeloma (R/R MM), Glenmark stated on June 10 in a launch on IGI Therapeutics SA, an entirely owned subsidiary of the New York-based IGI and AbbVie.
Under the phrases of the settlement, AbbVie will obtain unique rights to develop, manufacture, and commercialise ISB 2001 throughout North America, Europe, Japan and Greater China.
$2 billion deal
Subject to regulatory clearance, IGI will obtain an upfront fee of $700 million and is eligible to obtain as much as $1.225 billion in improvement, regulatory, and industrial milestone funds, together with tiered, double-digit royalties on internet gross sales, the corporate stated.
“Multispecifics including trispecific antibodies represent a new frontier in immuno-oncology with the potential to deliver deeper, more durable responses by engaging multiple targets simultaneously,” stated Roopal Thakkar, Executive Vice-President, Research and Development and Chief Scientific Officer, AbbVie.
“ISB 2001 exemplifies the potential of our BEAT protein platform to generate effective multispecifics that may overcome resistance and improve outcomes in hard-to-treat cancers,” stated Cyril Konto, President and CEO of IGI.
