FOR IMMEDIATE RELEASE
NEW YORK, NY
January 30, 2024

– This alliance brings together drug innovation capabilities of Ichnos and Glenmark to develop to develop cutting-edge therapies for the treatment of hematological  alignancies and solid tumors.
‐ IGI harnesses the collective expertise of over 150 scientists, operating through its three centers of innovation across the USA, Switzerland and India.
‐ There are currently three oncology molecules in clinical trials, with two having received orphan drug designation from the U.S. FDA.
‐ The synergies derived from this alliance will substantially reduce Glenmark’s investment in innovative research.

New York, USA, January 30, 2024: Ichnos Sciences Inc. (Ichnos), a global, fully integrated, clinical-stage biotech company and Glenmark Pharmaceuticals Ltd. (Glenmark), a leading, research-driven, global pharmaceutical company, today announced the launch of their alliance – Ichnos Glenmark Innovation – to accelerate new drug discovery in cancer treatment. This alliance combines Ichnos’ research and development proficiencies in novel biologics with those of Glenmark in new small molecules, to continue developing cuttingedge therapy solutions that treat hematological malignancies and solid tumors.

The newly formed IGI 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 U.S. FDA. Additionally, IGI has two autoimmune disease assets that have been out licensed to leading companies. The alliance will also further explore the in-licensing of latestage clinical assets to augment its novel oncology drug pipeline.

Harnessing the combined proficiency of over 150 scientists, IGI will leverage the capabilities of its three global centers of innovation. These comprise the Ichnos’ headquarters in New York City, NY, USA which is focused on clinical development; the biologics research center in Lausanne, Switzerland; and Glenmark’s small molecule research center at Mahape in Mumbai, India.

“We are proud to announce the Ichnos Glenmark Innovation alliance, which brings together the legacy of Glenmark and passion of Ichnos to accelerate the search for curing cancer. Innovation is an integral part of our organization’s fabric and 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 optimizing the cost of development.” remarked Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals Ltd.

Cyril Konto, President and CEO, Ichnos Glenmark Innovation, said, “Ichnos Glenmark Innovation is a collaborative venture backed by a strong, collective pipeline of novel multispecifics and small molecules. Supported by an experienced leadership and comprising a team that ardently believes in challenging the frontiers of science, IGI seeks to accelerate drug development by combining technologies, expertise, and forces while leveraging Glenmark’s footprint in India. We look forward to joining hands with other like-minded entities, including biotech companies and academia.”