Mumbai: Glenmark Pharmaceuticals said on Wednesday its unit has signed an in-licensing agreement with Italian biotechnology company Lay Line Genomics to commercialise antibody ‘BXL1H5´.
The molecule, which is a pain-killer monoclonal antibody for TrkA receptor - responsible for chronic pain -- would be developed by Glenmark’s biologics research and development centre in Switzerland, the Indian company said in a statement.
The global pain-killer market is valued at more than $25 billion, it said. Glenmark will leverage its expertise in monoclonal antibodies to progress rapidly into clinical development, Glenn Saldanha, chief executive officer and managing director, Glenmark Pharmaceuticals, said in the statement.
The drugmaker, however, did not disclose the upfront and milestone payments to be made to unlisted Lay Line Genomics.
At 12.01pm, shares of Glenmark Pharmaceuticals were at Rs317.45, up 0.94% in a firm Mumbai market.