Ichnos Sciences Launches as New, Independent, Leading-Edge Biotech Dedicated to Outpacing Disease
PARAMUS, N.J., Oct. 15, 2019 /PRNewswire/ --
Ichnos ('īk-nōz) Sciences officially opened its doors to the world today as an independent, fully integrated, global biotech company. A spin-off of Glenmark Holding SA, a global pharmaceutical company with a track-record of improving patients' lives by providing affordable medicines, the newly formed company was first approved in principle by the Glenmark Board of Directors in February 2019 and now operates with its own board of directors and executive team. Former Gilead executive, Alessandro Riva, MD, is CEO of Ichnos Sciences.
"Ichnos Sciences takes its name from an ancient Greek word that means 'footprint,' and is dedicated to transforming how people think about and treat cancer, autoimmune disease and pain, and to leaving an imprint on the lives of those affected by disease," Dr. Riva said. "The Company takes a holistic, disease-centric approach to research, has been structured to work faster, smarter and more collaboratively to accelerate development and quickly bring new treatments to patients."
Ichnos Sciences, headquartered in Paramus, N.J., launches with a firm global footprint that includes two research centers (Biologics in Switzerland and small molecules in Mahape, Navi Mumbai, India), a development site (Paramus, N.J.) and a GMP biologics manufacturing facility (Switzerland). Approximately 350 employees work at the Company and are dedicated to accelerating candidates in the pipeline toward commercialization.
Ichnos Sciences' current pipeline includes three new biological entities (NBE) and two new chemical entities (NCE) in various stages of development across oncology, autoimmune disease and pain. The immuno-oncology biologics pipeline is developed through the Company's proprietary BEAT® (Bispecific Engagement by Antibodies based on the T cell receptor) platform.
GBR 1342, the Company's CD38xCD3 bispecific antibody (bsAb) under development for relapsed & refractory multiple myeloma, was recently granted orphan drug designation by the U.S. Food and Drug Administration.
Overall, Ichnos Sciences' goals are to:
"We are building on the contributions of those who came before while paving a new path forward," Dr. Riva said. "We will imprint our mark forever by transforming the way we treat diseases. We dare to imagine a world where cure is possible."
Ichnos Sciences is in the process of obtaining all the necessary statutory, legal, corporate and regulatory approvals for completion of the spin-off, which is expected to occur in the first quarter of calendar year 2020.
About the Ichnos Sciences Pipeline
Ichnos Sciences is setting a new standard for drug development by advancing proprietary, innovative technologies that bring an entirely new approach to treating disease. Its current pipeline includes:
Oncology: Two assets in Phase 1 clinical development: GBR 1302, a HER2xCD3 bsAb, is being evaluated for HER2 positive breast cancer and GBR 1342, a CD38xCD3 bsAb, is being studied for multiple myeloma. Data readouts for both candidates are expected in 2021.
Autoimmune Disease: GBR 830, an anti-OX40 monoclonal antibody and the Company's lead biologic candidate, is currently in Phase 2b clinical development for the treatment of moderate to severe atopic dermatitis and data readout is expected in 2020. Based on an entirely new mechanism of action, GBR 830 has the potential for additional development beyond atopic dermatitis.
Pain: Two assets in clinical studies: GRC 27864, a non-opioid, potent, selective and orally bioavailable inhibitor of microsomal prostaglandin E synthase-1 (mPGES-1), is currently being evaluated in Phase 2b clinical development for osteoarthritic pain with data readout expected in 2020. GRC 17536, a non-opioid TRPA1 antagonist, has completed a Phase 2a proof of concept study in patients with painful diabetic peripheral neuropathy.
About Ichnos Sciences
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SOURCE Ichnos Sciences