Glenmark Pharmaceuticals SA has successfully completed Phase-I clinical trials of its new molecule, GRC 15300, which has been developed for treatment of neuropathic pain. GRC 15300 is a first in–class inhibitor for treatment of pain.

Chairman and Managing Director of the company, Mr. Glenn Saldanha, said that GRC 15300 is the first TRPV3 inhibitor across the globe. Glenmark done its Phase-1 analysis in UK and Saldanha said that they have plans to start the clinical proofing of the study.

They have got license to all therapeutic indications from Sanofi. Glenmark has eight novel molecules in various stages of development, and is primarily focusing on the areas of inflammation and pain.

On the other hand, Glenmark Pharmaceuticals shares also rose by 4.41%, amounting to Rs. 326.90. It is said that the rise was due to the fact that Glenmark Pharmaceuticals S. A has successfully completed its Phase 1 trial of painkiller drug.

Saldanha said that it is an exciting target and they are looking forward to continue the process of development on the program. He further said that Glenmark’s sustained ability to bring novel first-in-class programs, into clinics has demonstrated their growing capabilities to innovate, in the drug discovery space.