Glenmark On Course For Xolair Biosimilar Deal, US Capital Raise For Innovation
Glenmark appears close to sewing up a deal for its biosimilar version of Novartis/Genentech's Xolair amid the firm's ongoing focus on partnering out some key assets. It also expects to kick off plans to raise capital in the US for its innovation business in Q4 of fiscal 2019-20.
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Biosimilars major Celltrion has announced further progress on its biosimilar Xolair candidate, as it faces off against the likes of Glenmark to introduce global competition to Genentech/Novartis’ blockbuster cardiovascular biologic.
BiosanaPharma has revealed success in a comparative Phase I trial for its BP001 omalizumab proposed biosimilar rival to Novartis’ Xolair.
FDA orphan drug designation for Glenmark’s multiple myeloma candidate is seen as an important milestone ahead of its innovation spin out’s plans to raise capital in the US to fund pipeline development.