Glenmark Pharmaceuticals SA, a wholly-owned Swiss subsidiary of Glenmark Pharmaceuticals, said GBR 830 - a novel monoclonal antibody - is entering human trials. Monoclonal antibodies are produced by a single clone of cells grown in culture to produce unlimited quantities of identical antibodies.
Glenmark Pharmaceuticals today said its new molecule for potential treatment of autoimmune diseases is entering human trials.
Glenmark Pharmaceuticals SA, a wholly-owned Swiss subsidiary of Glenmark Pharmaceuticals, said GBR 830 - a novel monoclonal antibody - is entering human trials. Monoclonal antibodies are produced by a single clone of cells grown in culture to produce unlimited quantities of identical antibodies. They are used in diagnosis, therapy and biotechnology.
Autoimmune disorders occur when the immune system mistakenly attacks and destroys healthy body tissue. There are more than 80 such disorders including rheumatoid arthritis and multiple sclerosis.
Glenmark has now completed the Phase I enabling preclinical development programme for its novel monoclonal antibody GBR 830, and has filed a Phase I clinical trial application with The Netherlands authorities, the company said in a statement.
Glenmark Pharmaceuticals Ltd Chief Scientific Officer Michael Buschle said: "With GBR 830 Glenmark has succeeded in generating a truly antagonistic OX40 antibody. This was a very difficult programme but our persistence ultimately paid off." With this, Glenmark now has three monoclonal antibodies in clinical development.
Glenmark stock price
On July 03, 2014, Glenmark Pharma closed at Rs 606.75, up Rs 30.75, or 5.34 percent. The 52-week high of the share was Rs 640.35 and the 52-week low was Rs 489.10.
The company's trailing 12-month (TTM) EPS was at Rs 15.99 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 37.95. The latest book value of the company is Rs 93.03 per share. At current value, the price-to-book value of the company is 6.52.
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