Glenmark Sanguine On Ichnos Capital Raise Plan Amid Mixed Dermatitis Data
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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Hikma has struck a deal with Glenmark to gain US rights to its Ryaltris nasal spray. The agreement comes as Hikma reported sales ahead by 7% in 2019 on strong performances from the firm’s Injectables and Branded segments.
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.
India's Glenmark gets US Complete Response Letter for Ryaltris but emphasizes the FDA hasn’t faulted the clinical data for the product, and that the action won’t impact recent alliances for the rhinitis asset.