July 10 (Reuters) - India's Glenmark Pharmaceuticals

said on Thursday its innovation arm, Ichnos Glenmark

Innovation (IGI), and AbbVie ( ABBV ) have signed an exclusive

global licensing agreement for IGI's cancer treatment, ISB 2001.

Under the agreement, AbbVie ( ABBV ) will get exclusive rights to

develop, manufacture and commercialize ISB 2001 in North

America, Europe, Japan and Greater China.

Subject to regulatory approvals, IGI will receive an upfront

payment of $700 million and could earn up to $1.225 billion in

additional milestone payments, according to the agreement.

(Reporting by Chandini Monnappa and Hritam Mukherjee in

Bengaluru; Editing by Shreya Biswas

)