In a major development for the biopharma space, Glenmark Pharmaceuticals’ US-based innovation arm, IGI Therapeutics SA, has entered into an exclusive licensing agreement with global pharma giant AbbVie (NYSE: ABBV). The deal centers around ISB 2001, IGI’s lead investigational drug developed using its proprietary BEAT® protein platform, aimed at treating oncology and autoimmune diseases.
Under the terms of the agreement, AbbVie gains exclusive global rights to develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China. IGI will receive a hefty upfront payment of $700 million, with the potential to earn up to $1.225 billion in additional milestone payments tied to development, regulatory approvals, and commercial success. The deal also includes tiered, double-digit royalties on future net sales of the product.
Roopal Thakkar, M.D., Executive Vice-President, Research and Development and Chief Scientific Officer, AbbVie, said, “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. This partnership with IGI reflects our unwavering commitment to advancing novel therapies for patients with multiple myeloma, a disease where significant unmet need remains despite recent progress.”
This collaboration marks a significant milestone for Glenmark’s innovation strategy, reinforcing its transition toward cutting-edge biologics and strengthening its global R&D footprint.
