Domestic pharma major Glenmark Pharmaceuticals has entered into a licensing agreement with Boston-based APC Therapeutics Inc for development of a potential cancer treatment drug.
Under the terms of the agreement, Glenmark will license the product from APC Therapeutics and manage all clinical development, including regulatory filings and commercialisation worldwide.
APC Therapeutics, a biopharmaceutical company which is focused on building a portfolio of immuno-oncology (IO) therapies, will receive development milestones and sales royalty payments.
The oncology compound based on Antigen Presenting Cell (APC) biology has the potential to be used as a monotherapy or in combination with approved therapies to address unmet needs in cancer treatment.
The mechanism of action of APC biology is very intriguing and has the potential to be transformative in cancer treatment by triggering powerful immunologic responses to tumours that may lead to deeper and more durable responses to treatment.
Citing IMH Health data, Glenmark said the global oncology market is growing exponentially and projected to exceed USD 150 billion by 2020.
