Drug firm Glenmark Pharmaceuticals today said it is initiating investigational new drug-enabling studies for a novel antibody which has potential to kill cancer cells.
The discovery and initiation of studies for the antibody, GBR 1372, is being done by the company's wholly-owned subsidiary Glenmark Pharmaceuticals SA, Glenmark Pharmaceuticals said in a filing to BSE.
The company is likely to file an investigational new drug (IND) application with the United States Food and Drug Administration (USFDA) in the second half of FY2018, it added.
Commenting on the development, Glenmark Pharmaceuticals Chairman & MD Glenn Saldanha said: "We remain excited about the progress of our novel biologics pipeline. With the addition of GBR 1372, the quality of our biologics pipeline continues to improve."
The company is looking forward to advancing GBR 1372 into clinical development in the near future, Glenmark Pharmaceuticals Chief Medical Officer Fred Grossman said.
Shares of Glenmark Pharmaceuticals today closed at Rs 846 apiece on BSE, up 0.88 per cent from previous close.
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