Alphamab Oncology and 3DMedicines enter licensing agreement with Glenmark Speciality
Betsy Goodfellow | January 25, 2024 | News story | Medical Communications | 3DMedicines, Alphamab Oncology, Glenmark Speciality, Oncology, envafolimab
Alphamb Oncology and 3DMedicines have announced that they have entered into a license agreement with Glenmark Speciality, a subsidiary of Glenmark Pharmaceuticals, for the subcutaneous injection PD-L1 antibody drug, known as Envafolimab.
Glenmark has been granted exclusive licensing interests in the clinical development and commercialisation of the drug for oncology indications in India, Asia Pacific (excluding Singapore, Thailand and Malaysia), the Middle East, Africa, Russia, CIS and Latin America.
Under terms of this agreement, the Licensors will receive an upfront non-refundable payment of up to $700.8m, as well as milestone payments depending on the achievement of development, regulatory and commercialisation milestones, and single to double digit percentage royalties according to net sales of the drug.
Dr Ting Xu, chairman and chief executive officer of Alphamab Oncology, commented: “This collaboration holds significant importance for the continued advancement of Envafolimab. Leveraging Glenmark’s robust development and commercialisation capabilities, we are confident that Envafolimab will reach a substantial number of patients in the specified territory, especially in regions where cancer patients face underserved conditions. The notable advantages of Envafolimab in terms of safety, convenience and compliance position it as a competitive product. We eagerly anticipate a successful collaboration.”
Dr Gong Zhaolong, chairman and chief executive officer of 3DMedicines, added: “We are very pleased that Envolizumab can help more cancer patients. This cooperation is good news for more cancer patients. In a wide range of emerging markets, patients need more convenient and innovative treatments. We will work together to serve more cancer patients and help them live longer and better.”
Betsy Goodfellow
