Shilpa Medicare shares up 2% after arm partners with Swiss-based mAbTree Biologics for cancer drug

Shilpa Medicare’s stock has tumbled 23 percent since the start of the year, weighed down by broader market weakness.

Shares of Shilpa Medicare gained over 2 percent to Rs 647 in morning trade on March 18 after its subsidiary, Shilpa Biologicals, signed a strategic partnership with Switzerland-based mAbTree Biologics AG to co-develop and manufacture a novel immuno-oncology therapy.

Under the agreement, Shilpa Biologicals will handle the drug’s development, including clinical trials, and serve as the long-term commercial supplier through its GMP manufacturing facility in Dharwad, Karnataka.

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The therapy, a fully human monoclonal antibody, targets a newly identified immune checkpoint protein that could enhance T-cell activation and improve immune response against cancer. Researchers believe it has the potential to convert ‘cold’ tumours—those with poor immune infiltration—into ‘hot’ tumours that respond better to treatment, making it a promising option for various cancers, including lung and head and neck carcinomas.

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The program aims to develop a fully human monoclonal antibody targeting a novel immune checkpoint protein that enhances T-cell activation, triggering a potent immune response against tumours—similar to the well-established PD-1/PD-L1 blockade.

While PD-1/PD-L1 inhibitors have achieved significant clinical success, emerging research suggests that this new target holds immense therapeutic potential across various immuno-oncological conditions, both as a standalone treatment and in combination with other therapies.

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“This collaboration aligns with our vision to deliver innovative and affordable oncology treatments globally,” said Madhav Bhutada, Director of Shilpa Biologicals. The company's CEO Sridevi Khambhampaty called the therapy a "new frontier" in immuno-oncology, with the potential to benefit patients who do not respond to current immunotherapies.

mAbTree CEO Raj Andhuvan emphasized the partnership’s goal of expanding access to cancer treatments in India and other underserved markets, highlighting Shilpa’s strong scientific expertise.

At about 9:30 am, Shilpa Medicare shares were trading at Rs 640, higher by 1.6 percent from the last close on the NSE. Shilpa Medicare’s stock has tumbled 23 percent since the start of the year, weighed down by broader market weakness.

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