Ichnos Glenmark Innovation (IGI), a step-down wholly-owned subsidiary of Glenmark Pharmaceuticals, has signed an exclusive licensing agreement with American biopharmaceutical company AbbVie for its investigational cancer therapy - ISB 2001.

Under the terms of agreement, AbbVie will receive exclusive rights to globally develop, manufacture, and commercialise ISB 2001 across North America, Europe, Japan, and Greater China.

Glenmark, meanwhile, will spearhead development, production, and commercialisation efforts in emerging markets, including the rest of Asia, Latin America, the Russia/CIS region, the Middle East, Africa, Australia, New Zealand and South Korea.

The deal, pending regulatory approval, will see IGI receive an upfront payment of USD 700 million, with the potential to earn up to USD 1.225 billion in additional development, regulatory, and commercial milestone payments. IGI is also entitled to tiered, double-digit royalties on net sales of the therapy.

ISB 2001, a trispecific T-cell engager, is being developed using IGI’s proprietary BEAT protein platform, for oncology and autoimmune diseases. The drug is currently in Phase 1 clinical trials for patients with relapsed or refractory multiple myeloma, a type of blood cancer affecting plasma cells.

It received Orphan Drug Designation from the US FDA in July 2023 and Fast Track Designation in May 2025.

Commenting on the collaboration, Cyril Konto, MD, President, Executive Director and CEO of IGI, said, “Our collaboration with AbbVie and Glenmark reflects IGI’s mission to accelerate access to transformative multispecifics for patients worldwide.”

“AbbVie’s reach in major markets combined with Glenmark’s commercial strength in emerging markets, creates complementary access pathways for ISB 2001, a trispecific T-cell engager with promising potential in multiple myeloma,” he noted.  

Dr. Roopal Thakkar, Executive Vice President of Research And Development and Chief Scientific Officer at AbbVie, highlighted multispecifics including trispecific antibodies represent a new frontier in immuno-oncology with the potential to deliver deeper, more durable responses by engaging multiple targets simultaneously.

"This partnership with IGI reflects our unwavering commitment to advancing novel therapies for patients with multiple myeloma, a disease where significant unmet need remains despite recent progress,” he added.

Christoph Stoller, President – Europe and Emerging Markets at Glenmark Pharmaceuticals, added,

Christoph Stoller, President – Europe and Emerging Markets, Glenmark Pharmaceuticals, stated that the addition of ISB 2001 aligns with their oncology growth strategy.

“With our deep commercial footprint, strong regulatory capabilities, and experience in launching breakthrough assets like BRUKINSA and TEVIMBRA in India, and rights to commercialize QiNHAYO (envafolimab), a PD-L1 checkpoint inhibitor, in emerging markets, we are well positioned to deliver impactful treatment option for patients with difficult-to-treat cancers through ISB 2001,” he said.

Headquartered in New York, IGI is a clinical-stage biotechnology company focused on developing innovative biologics in oncology, with a robust pipeline of novel, first-in-class multispecifics aimed at addressing complex diseases.

AbbVie is a global biopharmaceutical leader with a diverse therapeutic portfolio spanning immunology, oncology, neuroscience, eye care, and aesthetics, supported by a pipeline of around 60 investigational assets.