New York and Mumbai, July 10, 2025: Ichnos Glenmark Innovation, Inc. (IGI), a global, fully integrated clinical-stage biotechnology company focused on developing multispecifics^TM in oncology, today announced its global commercialization strategy for its lead investigational asset, ISB 2001developed using IGI’s proprietary BEAT^® protein platform, for oncology and autoimmune diseases. This follows the execution of an exclusive licensing agreement with AbbVie (NYSE: ABBV).

Under the terms of agreement, IGI partners with AbbVie and grants exclusive rights to globally develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China while Glenmark Pharmaceuticals will develop, manufacture and lead commercialization of ISB 2001 across Emerging Markets including the rest of Asia, Latin America, Russia/CIS region, Middle East, Africa, Australia, New Zealand and South Korea.

“Our collaboration with AbbVie and Glenmark reflects IGI’s mission to accelerate access to transformative multispecifics^TM for patients worldwide,” said Cyril Konto, M.D., President, Executive Director and CEO of IGI. “AbbVie’s reach in major markets combined with Glenmark’s commercial strength in Emerging Markets, creates complementary access pathways for ISB 2001, a trispecific T-cell engager with promising potential in Multiple Myeloma.”

“At Glenmark, we are committed to expanding access to innovative cancer treatments across Emerging Markets where unmet need and growth potential intersect,” said Christoph Stoller, President – Europe and Emerging Markets, Glenmark Pharmaceuticals. “The addition of ISB 2001 is a natural evolution of our oncology strategy. With our deep commercial footprint, strong regulatory capabilities, and experience launching breakthrough assets like BRUKINSA^® and TEVIMBRA^® in India, and rights to commercialize QiNHAYO^® (envafolimab), a PD-L1 checkpoint inhibitor, in Emerging Markets, we are well positioned to deliver impactful treatment option for patients with difficult-to-treat cancers through ISB 2001.”

This strategic collaboration marks a defining milestone in IGI’s scientific journey, accelerating ISB 2001’s path to patients and sharpening the focus on advancing the next generation of BEAT^®-enabled assets in oncology.

About ISB 2001
ISB 2001 is a first-in-class trispecific T-cell engager that targets BCMA and CD38 on myeloma cells and CD3 on T cells currently in Phase 1 clinical development for relapsed/refractory multiple myeloma. Developed using IGI’s proprietary BEAT^® protein platform, ISB 2001 was engineered with two distinct binders against myeloma-associated antigens to enhance avidity, even at low target expression levels, while aiming to improve safety over first-generation bispecific antibodies. Recently, data presented as a rapid oral presentation (Abstract #7514) at the American Society of Clinical Oncology (ASCO) 2025 Annual Meeting demonstrated a sustained overall response rate (ORR) of 79% and a high complete/stringent complete response (CR/sCR) rate of 30% at active doses ≥ 50 µg/kg in a heavily pretreated population of relapsed/refractory myeloma patients, with a favorable safety profile.

U.S. Food & Drug Administration granted ISB 2001 Orphan Drug Designation in July 2023 and Fast Track Designation for the treatment of relapsed/refractory myeloma patients in May 2025.

About IGI
IGI is a global, fully integrated clinical-stage biotechnology company focused on developing innovative biologics in oncology. Headquartered in New York, NY, IGI is advancing a robust pipeline of novel, first-in-class multispecifics^TM aimed at addressing complex diseases and treating patients holistically. Powered by its proprietary BEAT^® technology platform, IGI is committed to delivering breakthrough, curative therapies to improve and extend the lives of patients battling hematological malignancies and solid tumors. For more information, visit www.IGInnovate.com.

About the BEAT^® Multispecific™ Platform
IGI’s proprietary BEAT^® platform goes beyond traditional bispecific antibody approaches, addressing key engineering bottlenecks that have historically limited large-scale bispecific production. By leveraging a proprietary common light chain library and TCR interface-based heavy chain pairing, BEAT^® enables the development of next-generation immune cell engagers with strong therapeutic potential in oncology. Unlike many engineered formats, BEAT^® mirrors the architecture of natural antibodies utilizing both light and heavy chains to enhance stability and function. Key attributes of the BEAT^® platform include its multispecific versatility, enabling the design of antibodies that engage diverse immune cell types such as T cells, myeloid cells, and NK cells against multiple antigens. The platform also features optimized engineering through high-fidelity heavy chain pairing with a common light chain, allowing for precise Fc modulation and access to a broad structural design space. Additionally, BEAT^® supports robust manufacturability, producing correctly assembled multispecific antibodies with favorable stability, extended half-lives, low immunogenicity and high titer yields through standardized process development and manufacturing operations.

About Glenmark Pharmaceuticals Ltd.
Glenmark Pharmaceuticals Ltd. (BSE: 532296 | NSE: GLENMARK) is a research‐led, global pharmaceutical company, having a presence across Branded, Generics, and OTC segments; with a focus on therapeutic areas of respiratory, dermatology and oncology. The company has 11 world-class manufacturing facilities spread across 4 continents, and operations in over 80 countries. Scrip 100 positions Glenmark amongst the Top 100 biopharmaceutical companies ranked by Pharmaceutical Sales in 2023; while Generics Bulletin places it in the Top 50 Generics and biosimilar companies ranked by sales in 2024. Glenmark’s Green House Gas (GHG) emission reduction targets have been approved in 2023 by the Science Based Target initiative (SBTi), making it only the second pharmaceutical company in India to achieve this. The organization has impacted over 3.3 million lives over the last decade through its CSR interventions. For more information, visit www.glenmarkpharma.com. You can follow us on LinkedIn (Glenmark Pharmaceuticals) and Instagram (Glenmark_pharma).

About AbbVie
AbbVie’s mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people’s lives across several key therapeutic areas – immunology, oncology, neuroscience, and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on LinkedIn, Facebook, Instagram, X (formerly Twitter), and YouTube.

For more information, please contact:
IGI Corporate Communications
Corporate.communications@IGInnovate.com

Shweta Munjal
Chief Communications & CSR
Glenmark Pharmaceuticals Limited
Shweta.munjal@glenmarkpharma.com