Glenmark Pharmaceuticals has informed the Stock Exchange that the company through its Swiss subsidiary has received $5 million as milestone payment from Sanofi on a collaboration of its VLA2 (alpha2-beta1) integrin monoclonal antibody. GBR 500 is a first-in-class therapeutic monoclonal antibody for chronic autoimmune disorders.
Glenmark has received from Sanofi already $50 million as an upfront payment in FY2011-12. Hence, the total amount received by Glenmark from Sanofi for its first in class VLA-2 monoclonal antibody is $55 million.
EP News Bureau – Mumbai
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