Glenmark Pharmaceutical (Glenmark), a manufacturer of generic formulation products and API, announces the discovery and initiation of IND enabling studies of a novel clinical development candidate, GBR 1302, a HER2xCD3 dispecific antibody. GBR 1302 was discovered and developed by the Glenmark Biologics Research Centre located in La Chaux-de-Fonds, Switzerland.

GBR 1302 is based on Glenmark's innovative BEAT antibody technology platform which facilitates the efficient development and manufacture of antibodies with dual specificities, so-called bispecific antibodies.

Shares of the company are trading at Rs 743, up Rs 23.55, or 3.27% at the Bombay Stock Exchange (BSE) on Wednesday at 9:49 a.m.

The scrip has touched an intra-day high of Rs 749.05 and low of Rs 726. The total volume of shares traded at the BSE is 33,926.