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Glenmark Pharma has begun a multi-country Phase 3 trial for Envafolimab, a cancer drug already in use in China. The stock rose 3% on the update.
The deets: Envafolimab is a new cancer drug that works by helping the body’s immune system fight tumors. It’s given as a quick under-the-skin injection, making treatment easier and more convenient than traditional methods.
Glenmark has DCGI’s nod to start patient enrollment in India, filed a Clinical Trial Application in Russia, and is prepping trial sites in Brazil and Mexico.
Background: the drug was invented by Alphamab Oncology and co-developed with 3D Medicines in 2016. Glenmark licensed rights last year to develop and commercialise it in select regions.
Envafolimab’s revenue is projected to touch $44M by 2026, scaling to $176M by 2029.
Zoom out: lung cancer is still the top cause of cancer deaths globally. With non-small cell lung cancer making up nearly 85% of cases and poor survival rates for Stage III patients, Glenmark sees an opportunity for Envafolimab to offer a more effective and patient-friendly immunotherapy option.
