Glenmark Pharmaceuticals Ltd today said its newly- found andti-diabetic/anti-obesity molecule will be put into clinical trials by later this year. Mr Glenn Saldanha, Executive Director, Glenmark pharmaceuticals, told newspersons that the company's R&D team has established 'proof of concept' in animals for this molecule.
The global diabetes market is estimated to be in the region of Rs. 400 crore. The company is scouting for partners to take the molecule into advanced phases of clinical trials. Mr. Saldahna said that the pre-clinical trials for the molecule are expected to be completed in the next six months and then the Phase I clinical studies will be initiated in Europe.
"We are scouting for contract research organisations (CROs) in Europe which will take the moleucle code named - GRC -1087 - through Phase I and probably Phase II A or early Phase II clinical trials. We might be in a position to announce the CRO in the next three months," Mr Saldanha said. The clinical trials will cost around $1 million.