The company enters oncology with the discovery and the initiation of IND enabling studies of this innovative bispecific antibody GBR 1302.

This is the first bispecific antibody based on Glenmark's proprietary BEAT platform, said the company's press statement.

The antibody was discovered and developed by the Glenmark Biologics Research Centre located in La Chaux-de-Fonds, Switzerland.

Commenting on this milestone, Dr Michael Buschle, CSO and president - Biologics, Glenmark Pharmaceuticals said, "GBR 1302 is significant for Glenmark on multiple levels. It is our first bispecific antibody. It is our first antibody based on our proprietary BEAT antibody engineering platform and it represents the entry of Glenmark into the oncology innovator space, which has a huge commercial potential."

The discovery is based on Glenmark's innovative BEAT antibody technology platform which facilitates the efficient development and manufacture of antibodies with dual specificities termed, bispecific antibodies.

This is said to be the first clinical development candidate based on the BEAT technology. Glenmark expects to obtain approval for the initiation of clinical studies during this financial year.

HER2, also known as HER2/neu, or receptor tyrosine-protein kinase erbB-2, is the target of the antibody cancer drugs Trastuzumab, Pertuzumab and Trastuzumab Emtansine and is involved in breast cancer and ovarian cancer.

GBR 1302's mode of action is different from current HER2 targeting antibodies. It redirects cytotoxic T-cells through its CD3 binding arm onto HER2 expressing cancer cells and induces the killing of the cancer cells.

The killing of cancer cells by GBR 1302 is more rapid, more complete and not subject to the same resistance escape mechanisms as competing therapies claimed Glenmark's press release.

With the invention of the BEAT technology Glenmark's scientists have now overcome these bottlenecks and GBR 1302 is the first drug candidate based on this antibody engineering breakthrough technology.