Washington Editor

Glenmark Pharmaceuticals Ltd. has sold rights to its transient-receptor potential vanilloid sub-family 1 (TRPV1) antagonist molecules, including GRC 6211, to Eli Lilly and Co. in a deal worth at least $350 million.

GRC 6211 is currently in Phase II clinical development as a potential next-generation therapy to treat pain, including pain related to osteoarthritis.

Under the deal, Glenmark will receive an up-front payment of $45 million and could bank an additional $215 million in potential development and sales milestones for the initial indication.

The firm also could collect royalties on sales if GRC 6211 is successfully commercialized.

If other indications are developed successfully, Glenmark could garner up to $90 million in additional milestones.

Lilly will have the rights to sell GRC 6211 in North America, Europe and Japan.

Glenmark, which is based in Mumbai, India, and has U.S. offices in Mahwah, N.J., will retain the marketing rights in all other countries. The firm also will have the right to co-promote GRC 6211 in the U.S.

Other terms of the deal were not disclosed.

Glenmark spokeswoman Vasudha Jha said her firm chose Lilly for the TRPV1 antagonist molecule deal because of the Indianapolis-based pharmaceutical firm's commitment to "seek out novel treatments for important medical conditions," such as osteoarthritis-related pain.

"This agreement is not only evidence of this commitment, but also the beginning of an exciting partnership as GRC 6211 has shown good potential in early phase development and will be a strong addition to Lilly's own internal pipeline of potential pain molecules," she told BioWorld Today in an email response to questions. "This agreement also reinforces Glenmark's leadership in the Indian drug discovery arena and validates the fact that Indian companies have the ability to do world class innovative R&D."

The Lilly deal, Jha said, will allow Glenmark "to pursue other potential blockbuster targets." The firm has 11 lead molecule candidates at various stages of development, including three molecules in Phase II development.

Glenmark signed a deal in October 2006 with Darmstadt, Germany-based Merck KGaA worth at least $165 million for rights to the Indian firm's Type II diabetes compound GRC 8200. The company also partnered with New York-based Forest Laboratories Inc. in a deal worth about $200 million to develop and commercialize Glenmark's Oglemilast (GRC 3886) as a therapy for asthma and chronic obstructive pulmonary disease.

Glenmark recently acquired the rights to two humanized monoclonal therapeutic antibodies, CHR-1103 and CHR-1201, from Burnaby, Canada-based Chromos Molecular Systems Inc.

CHR-1103 is a broad anti-inflammatory agent being developed to treat acute multiple sclerosis. CHR-1201 is an antithrombolytic humanized monoclonal antibody, which Glenmark plans to develop initially to treat acute stroke.