Glenmark’s Ichnos Debuts, With The Spirit Of Start-Up
Glenmark’s innovation spin-out Ichnos aims to rapidly advance its pipeline candidates and key data readouts next year are expected to shape the new entity’s growth trajectory and proposed funding initiatives.
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Glenmark reports challenging first quarter across key markets amid the pandemic, with US momentum impacted in part by pricing pressure in the dermatology segment. New product flows could restore uptick in that market, though US approval for rhinitis therapy Ryaltris is anticipated only in the second half of 2021.
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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