Drug firm Glenmark Pharmaceuticals today said it has filed an application for human trials in Netherlands for its molecule 'GRC 17536', which aims to treat pain and respiratory disorders.
The company has completed animal trials on its novel chemical entity (NCE)-GRC 17536 and has filed the Phase I application for first-in-man trial in Netherlands, Glenmark Pharmaceuticals said in a filing to the Bombay Stock Exchange.
"We are excited that our TRPA1 discovery programme is moving forward to human trials. This is another potential first-in-class molecule indicated for both pain and respiratory conditions," Glenmark Pharmaceuticals CEO and MD Glenn Saldanha said.
The company said that the total market for asthma and chronic lung disease is nearly USD 30 billion and for osteoarthritis and neuropathic pain is nearly $10 billion.
"There is a huge unmet medical need in both therapeutic areas globally. GRC 17536 is highly selective even when compared with other TRPs and can be administered orally," he added.
Shares of Glenmark Pharmaceuticals were today trading at Rs 291.30 in the after noon trade on BSE, up 0.92% from its previous close.
