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Glenmark Sanguine On Ichnos Capital Raise Plan Amid Mixed Dermatitis Data

 
• By Anju Ghangurde

Glenmark’s innovation spin-out initiates efforts to raise capital in the US, unfazed by mixed top-line results for its investigational atopic dermatitis treatment. Its parent firm has underscored the value proposition of the oncology franchise and proprietary bispecific antibody technology platform.

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Glenmark's Innovation Spin-Out Initiates Plans To Raise Capital • Source: Shutterstock

Glenmark Pharmaceuticals Ltd. does not expect mixed results for its innovation arm's OX40 antagonist to dull the spin-out's plans to raise capital in the US, with management emphasizing the strength of the unit’s oncology thrust and proprietary antibody platform.

Launched in October 2019, the Indian company's innovation operation, Ichnos Sciences, headquartered in Paramus, NJ, has initiated a process to raise new funding in the US to support the development of its pipeline and future growth

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