Glenmark Pharmaceuticals has entered into an agreement with Sanofi-Aventis to grant the latter a licence to develop and commercialise novel agents to treat chronic pain.

The agents include vanilloid receptor (TRPV3) antagonist molecules with a compound GRC 15300 that is in phase I clinical development.

Under the agreement, Glenmark will receive an upfront payment of $20m as well as development, regulatory and commercial milestone payments amounting to a total of $325m.

Glenmark is also eligible to receive royalties on sales of drugs commercialised under the licence while Sanofi-aventis will have exclusive marketing rights for the European Union, Japan and North America, subject to Genmark’s right to co-promote the drugs in the US and five eastern European nations.

Glenmark will retain rights in India and rest of the world while Sanofi-aventis will have co-marketing rights in Brazil, Russia, China and seven other markets.