Glenmark Pharmaceuticals Ltd and Ichnos Sciences Inc announced an alliance to accelerate new drug discovery in cancer treatment.

The alliance, ‘Ichnos Glenmark Innovation (IGI)’ combines Glenmark’s research and development proficiencies in small molecules with those of Ichnos in novel biologics to continue developing cutting-edge therapy solutions that treat hematological malignancies and solid tumors, the two companies said in a joint statement.

It features a robust pipeline of three innovative oncology molecules targeting multiple myeloma, acute myeloid leukemia and solid tumors currently undergoing clinical trials.

“Two of these molecules have received orphan drug designation from the USFDA. Additionally, IGI has two autoimmune disease assets that have been out-licensed to leading companies,” the statement said.

Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said,”...Through IGI, we are confident of getting closer to our quest to develop a novel cancer drug for the world. Additionally, this will also enhance shareholder value by optimising the cost of development.”

Ichnos Glenmark Innovation President and CEO Cyril Konto said, “Ichnos Glenmark Innovation is a collaborative venture backed by a strong, collective pipeline of novel multi specifics and small molecules.”

The alliance seeks to accelerate drug development by combining technologies, expertise, and forces while leveraging Glenmark’s footprint in India, he said, adding, “We look forward to joining hands with other like-minded entities, including biotech companies and academia.”

IGI will leverage the capabilities of its three global centres of innovation with over 150 scientists. These centres comprise Ichnos’ headquarters in New York, which is focused on clinical development; the biologics research centre in Lausanne, Switzerland, and Glenmark’s small molecule research centre at Mahape in Mumbai, the statement said.