Lupin announces achievement of Key Milestone for its Phase 1 Clinical Stage MALT1 inhibitor Program

Global pharma major Lupin Limited (Lupin) today announced the achievement of a key milestone for its novel MALT1 (Mucosa-Associated Lymphoid Tissue Lymphoma Translocation Protein 1) inhibitor program that is partnered with AbbVie Inc. (AbbVie) towards treatment across a range of hematological cancers.

As part of the agreement, Lupin has received USD 25 million from AbbVie for initiation of Phase 1 clinical studies successfully. Lupin had earlier received USD 30 million from AbbVie for achievement of other milestones in the program.

Lupin and AbbVie inked the licensing, development, and commercialization agreement in 2018 for this novel oncology drug to treat Hematological Cancers. Lupin's MALT1 inhibitor developed as part of its oncology pipeline had previously shown pre-clinical activity as a single agent as well as in combination.

"This achievement is further validation of our ability to successfully develop novel treatments for unmet needs. We look forward to continued successful development of this important treatment for patients with difficult-to-treat cancers," said Nilesh Gupta, Managing Director, Lupin.

Lupin's Novel Drug Discovery and Development (NDDD) team is focused on building a pipeline of highly differentiated and innovative new chemical entities in the oncology space.

Shares of Lupin Limited was last trading in BSE at Rs. 880.80 as compared to the previous close of Rs. 873.80. The total number of shares traded during the day was 31685 in over 1956 trades.

The stock hit an intraday high of Rs. 889.90 and intraday low of 875.05. The net turnover during the day was Rs. 27987934.00.

Source : Equity Bulls

Keywords

Lupin INE326A01037 KeyMilestone MALT1InhibitorProgram AbbVie Phase1ClinicalStage