Glenmark Pharmaceuticals, a wholly-owned subsidiary of Glenmark Pharmaceuticals Limited India (GPL), has entered into an agreement with Forest Laboratories, an international health care leader, on a collaboration for the development of novel mPGES-1 inhibitors to treat chronic inflammatory conditions, including pain. Glenmark has identified clinical candidates and is currently conducting pre-clinical studies and other development activities required to support the initiation of first-in-human dosing.
Under the terms of the agreement, Forest will make a $6 million upfront payment to Glenmark and provide an additional $3 million to support the next phase of work. Forest will make other future payments in FY 2014 to support the advancement of the ongoing mPGES-1 inhibitors programme. Forest has an exclusive option to obtain license rights to the programme upon the completion of Phase 1 clinical trials.
Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals said, “This collaboration reinforces our strategy of partnering to achieve our goal of launching innovative technologies around the world. Forest has an unrivalled reputation as a world leading pharma company. We’re proud to be associated with them and look forward to working together. The partnership combines Glenmark’s proven track record of leadership and expertise in rapid, innovative product development, and world-class manufacturing network with Forest’s development and regulatory expertise and a strong commercial footprint.”
EP News Bureau – Mumbai