Glenmark’s Coup: Gilead’s Riva Now CEO Of Spin-Out Innovation Firm
Glenmark has snagged a top name in oncology from Gilead to lead its spin-out innovation business.
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Glenmark’s spin-out innovation arm, Ichnos, faces a crucial year of effort to partner out certain potential first-in-class therapeutics for autoimmune diseases and also to advance its oncology pipeline. Meanwhile, CEO and ex-Gilead executive Alessandro Riva is moving on.
After several staff departures, Gilead consolidates its research arm under CEO oversight, while welcoming another Roche/Genentech alum.
FDA orphan drug designation for Glenmark’s multiple myeloma candidate is seen as an important milestone ahead of its innovation spin out’s plans to raise capital in the US to fund pipeline development.