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Glenmark Pharma' subsidiary Ichnos Sciences, a US-based biotechnology company developing innovative biologics in oncology and autoimmune diseases, and Almirall, a global biopharmaceutical company focussed on skin health, have entered into an exclusive licensing agreement for the IL-1RAP antagonist ISB 880.
Under the agreement, Almirall is granted global rights to develop and commercialise this monoclonal antibody for autoimmune diseases. Ichnos will retain rights for antibodies acting on the IL-1RAP pathway for oncology indications.
Within the terms of the agreement, Almirall will assume full cost and responsibility for the global development and commercialisation of the compound for all autoimmune disease indications.
Ichnos 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.
ISB 880 is a first-in-class fully human, high affinity monoclonal antibody that targets human IL-1RAP.
