Glenmark Pharma shares surge after its U.S arm, AbbVie ink pact for investigational most cancers drug

The share costs of Glenmark Prescription drugs surged 10% to ₹2,095.65 every, hitting the higher circuit within the course of, as quickly as markets opened on Friday (June 11, 2025) within the backdrop of an unique licensing settlement for investigational asset ISB 2001 between subsidiary Ichnos Glenmark Innovation Inc. (IGI) and NYSE-listed AbbVie.

A primary-in-class CD38×BCMA×CD3 Trispecific Antibody, ISB 2001 is being developed for oncology and autoimmune illnesses. It’s at the moment in Section 1 scientific trial in sufferers with relapsed/refractory a number of myeloma (R/R MM), Glenmark stated on June 10 in a launch on IGI Therapeutics SA, an entirely owned subsidiary of the New York-based IGI and AbbVie.

Underneath the phrases of the settlement, AbbVie will obtain unique rights to develop, manufacture, and commercialise ISB 2001 throughout North America, Europe, Japan and Larger China.

$2 billion deal

Topic to regulatory clearance, IGI will obtain an upfront fee of $700 million and is eligible to obtain as much as $1.225 billion in growth, regulatory, and business milestone funds, together with tiered, double-digit royalties on web gross sales, the corporate stated.

“Multispecifics together with trispecific antibodies signify a brand new frontier in immuno-oncology with the potential to ship deeper, extra sturdy responses by participating a number of targets concurrently,” stated Roopal Thakkar, Government Vice-President, Analysis and Improvement and Chief Scientific Officer, AbbVie.

“ISB 2001 exemplifies the potential of our BEAT protein platform to generate efficient multispecifics which will overcome resistance and enhance outcomes in hard-to-treat cancers,” stated Cyril Konto, President and CEO of IGI.