Glenmark Pharmaceuticals Ltd. receives milestone fee payment from Sanofi
15 April 2014 | News | By BioSpectrum Bureau
Glenmark Pharmaceuticals Ltd. receives milestone fee payment from Sanofi
Glenmark receives payement through its swiss subsidiary
Glenmark Pharmaceuticals Ltd. has informed the Stock Exchange today that the company through its Swiss subsidiary has received USD 5 million as
milestone payment from Sanofi on a collaboration of its VLA2 (alpha2-beta1) integrin monoclonal antibody. GBR 500 is a first-in-class therapeutic monoclonal antibody for chronic autoimmune disorders.
Glenmark has received from Sanofi already USD 50 Mn as an upfront payment in FY2011-12. Hence, the total amount received by Glenmark from Sanofi for its first in class VLA-2 monoclonal antibody is USD 55 million.
