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Glenmark subsidiary Ichnos Sciences Inc and biopharmaceutical company Almirall SA have entered into an exclusive licensing agreement on ISB 880, a monoclonal antibody for autoimmune diseases.
Under the agreement, Almirall will have global rights to develop and commercialize this product, while Ichnos will retain rights for antibodies acting on the IL-1RAP pathway for oncology indications, the company said.
Ichnos is a biotechnology company developing innovative products in oncology and autoimmune disease segments. It will receive an upfront payment of €20.8 million as well as additional development and commercial milestone payments and tiered royalties based upon future global sales, a note from the company said.
Within the terms of the agreement, Almirall will assume full cost and responsibility for the global development and commercialization of the compound for all autoimmune disease indications.
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