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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All eyes are on a fundraising plan by Glenmark’s US innovation spin-out Ichnos, with management signaling that its proprietary BEAT platform will be the biggest value driver rather than any individual pipeline asset. The company's India business rang in a strong Q3, with remogliflozin and combinations expected to emerge as a significant franchise.
Public Company Edition: 2020 started with two $200m-plus initial public offerings plus five health care-focused special purpose acquisition corporations IPOs. Also, a Pfizer initiative backs three public companies, Fate’s $432m offering led recent FOPOs and Biocon Biologics receives more investment.
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.