Glenmark arm discovers molecule to treat blood cancer

Glenmark Pharmaceuticals has discovered a new drug molecule which can treat blood and lymph cancer, besides inflammatory disorders

Glenmark Pharmaceuticals said it has discovered a new drug molecule which can treat blood and lymph cancer, besides inflammatory disorders.

The novel biological entity, (NBE) ‘GBR 401’, was discovered by the company’s Switzerland-based arm Glenmark Pharmaceuticals SA, the company said in a statement.

“Glenmark will file for phase-I trials in the fourth quarter of FY2011-12,” it added.The disease areas primarily targeted by GBR 401 are lymphoma and leukaemia of B-cell origin. Leukaemia is a type of cancer of the blood or bone marrow and lymphoma is a form of cancer in the lymphatic cells of the immune system.GBR 401 also holds the potential to treat inflammatory disorders such as rheumatoid arthritis, it added.
 
“GBR 401 has been developed using a technologically advanced platform that greatly enhances the efficacy of the antibody,” said Glenmark Pharmaceuticals SA president, biologics, Michael Buschle.
 
On Thursday, Glenmark Pharma ended 0.73% up at Rs283.60 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.80% to 19,445.22.

 

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Atul Auto signs MoU with Bank of Baroda for auto loans

Bank of Baroda will provide financing to customers for purchase of Atul Auto vehicles across the country

Atul Auto Ltd has signed a memorandum of understanding (MoU) with Bank of Baroda, a public sector bank. The bank will become a preferred financier of Atul Auto for all types of three wheelers and will offer financing facilities to eligible customers.
 
As per the MoU, Bank of Baroda will provide financing to customers for purchase of Atul Auto vehicles across the country. Atul Auto in collaboration with Bank of Baroda will promote schemes to offer easy finance options to their customers by leveraging the pan India presence of Bank of Baroda.
 
Atul Auto is also rapidly expanding its sales and service network to support the market demand of its three wheelers. It intends to take the network to 150 sales points--exclusive dealership--by the end of this financial year.

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Reliance Mutual Fund to float Dual Advantage Fixed Tenure Fund I-Plan J

Reliance Mutual Fund new issue will open for subscription on 11th April

Reliance Mutual Fund will launch Reliance Dual Advantage Fixed Tenure Fund I-Plan J, a close-ended income scheme. The tenor of the scheme is three years.
The investment objective of the scheme is to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the scheme along with capital appreciation through equity exposure.
 
The minimum investment amount is Rs5,000. The new issue will open for subscription on 11th April and will close on 25th April.
 
CRISIL MIP Blended Index is the benchmark index for the scheme. Shailesh Raj Bhan and Anju Chajjer will manage the scheme.

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