Glenmark’s deal with Harbour BioMed to make it richer by $120 million

New Delhi: In its exclusive license agreement with the global Chinese biotechnology firm, Harbour BioMed, the Glenmark Pharmaceuticals will receive an upfront payment and is eligible to receive payments for achieving pre-specified development, regulatory and commercialization milestones, as well as tiered royalties on net sales for any approved products.

Under the terms of the agreement limited to the Greater China territory, Harbour Biomed will develop, manufacture and commercialize GBR 1302, Glenmark’s bispecific antibody targeting HER2 and CD3 for the treatment of HER2-positive cancers.

The agreement is potentially worth more than $120 million in addition to royalties for Glenmark, a global pharmaceutical company headquartered in Mumbai, India.

Harbour BioMed will lead the clinical development and commercialization of GBR 1302, with the option to manufacture GBR 1302 for the Greater China market. The companies will collaborate on the generation of clinical data to support the registration of GBR 1302 in HER2-positive indications in their respective territories.
GBR 1302, Glenmark’s lead immuno-oncology candidate, works by stimulating the patient’s immune system against HER2 overexpressing tumor cells.

GBR 1302 is currently in a first-in-human study to determine the maximum tolerated dose (MTD) in an all-comers population of patients with a variety of HER2-positive cancers. Enrollment for the GBR 1302 clinical study is currently ongoing in the U.S. and Germany.