Ichnos Glenmark Innovation (IGI), a wholly owned subsidiary of Glenmark Pharmaceuticals, has received an upfront payment of USD 700 million from AbbVie under the terms of their recently announced global licensing agreement for IGI’s lead investigational asset, ISB 2001.

In July, IGI Therapeutics SA, a wholly owned subsidiary of New York-based IGI, entered into an exclusive licensing deal with AbbVie for ISB 2001, which is currently in Phase 1 clinical trials for patients with relapsed/refractory multiple myeloma.

Developed using IGI’s proprietary BEAT protein platform, for oncology and autoimmune diseases, ISB 2001 is a first-in-class trispecific T-cell engager that targets BCMA and CD38 on myeloma cells and CD3 on T cells. The US Food and Drug Administration granted ISB 2001 Orphan Drug Designation in July 2023 and Fast Track Designation in May 2025.  

Under the agreement, AbbVie is granted exclusive rights to develop, manufacture, and commercialise ISB 2001 across North America, Europe, Japan, and Greater China. Glenmark retains the responsibility for development, manufacturing, and commercialisation in emerging markets, including the rest of Asia, Latin America, Russia/CIS, the Middle East, Africa, Australia, New Zealand, and South Korea.

In addition to the USD 700 million upfront, IGI is eligible to receive up to USD 1.225 billion in development, regulatory, and commercial milestone payments, along with tiered, double-digit royalties on net sales.