MAHWAH, N.J., June 20, 2017 /PRNewswire/ -- Glenmark Pharmaceuticals,a global pharmaceutical company, announced today it entered into a licensing agreement with Boston-based APC Therapeutics Inc., a biopharmaceutical company focused on building a portfolio of best-in-class immuno-oncology
"This asset adds to our robust biologics pipeline of targeted IO therapies," said Kurt Stoeckli, President and Chief Scientific Officer at Glenmark Pharmaceuticals. "The mechanism of action of APC biology is very intriguing and has the potential to be transformative in cancer treatment by triggering powerful immunologic responses to tumors that may lead to deeper and more durable responses to treatment."
Under the terms of the agreement, Glenmark will license the product from APC Therapeutics, and manage all clinical development including regulatory filings and commercialization worldwide. APC Therapeutics will receive development milestones and sales royalty payments.
"Glenmark is an ideal partner to advance such an important scientific breakthrough treatment to patients with cancer," said Vinod Patel and Venkateshwar Reddy, the co-founders of APC Therapeutics.1 "This partnership is strategically significant for APC Therapeutics as it validates and advances our commitment to bring the right immunotherapies to the right patient populations."
The global oncology market is growing exponentially and projected to exceed $150 billion by 2020, according to figures from IMS Health. Driving this growth is the transition from short-term cytotoxic treatments towards precision medicines, most notably IO agents providing substantial increase in long-term survival. Because of these improvements, IO is one of the most promising and fastest growing areas of cancer treatment and research.
BIO Conference Company PresentationGlenmark's President and Chief Medical Officer, Dr. Fred Grossman, will present an overview of the company including an update on pipeline developments at BIO 2017 in San Diego. His presentation is scheduled for Tuesday, June 20th at 11:30 a.m. PDT in Theater 1.
About APC TherapeuticsAPC Therapeutics is a privately held biopharmaceutical company building a unique immuno-oncology portfolio with a focus on the development of novel small molecule therapies. The approach involves antigen-presenting cell mechanisms of action and a patient stratification to match patients most likely to respond.
About Glenmark PharmaceuticalsGlenmark Pharmaceuticals Ltd. (GPL) is a global innovative pharmaceutical company with operations in more than 50 countries. The company has improved the lives of millions of patients by offering safe, affordable medications for nearly 40 years. Glenmark has a diverse pipeline with several compounds in various stages of clinical development, primarily focused in the areas of oncology, respiratory, and dermatology and includes three bispecific monoclonal antibodies (bsABs) and an antibody-based agonist targeting OX40R. The immuno-oncology pipeline currently includes four candidates being studied in a wide-range of tumor types. For more information, visit www.glenmarkpharma.com.
1 Venkateshwar ("Venkat") Reddy joined Glenmark as Vice President and global head of translation sciences for the company.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/glenmark-pharmaceuticals-licenses-small-molecule-oncology-compound-from-apc-therapeutics-to-expand-immuno-oncology-portfolio-300476334.html
SOURCE Glenmark Pharmaceuticals
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