Glenmark has completed preclinical studies and Phase 1 enabling good laboratory practise for the molecule, GRC 27864, and has filed a Phase 1 application for first-in-human trial with the MHRA, UK, Glenmark Pharma said in a BSE filing.
The Phase 1 studies are to be initiated soon and are likely to get completed by January 2015, it added.
Glenmark Pharmaceuticals Ltd Chief Scientific Officer Michael Buschle said: "This is another first-in-class molecule and there is a significant unmet medical need. This announcement also reaffirms our position globally in the development of novel pain therapies."
Indicating potential and size of the market for the drug, the firm said: " 20% of the global adult population suffers from pain with 10% of newly diagnosed cases of chronic pain cases being added every year."
Following human trial, Glenmark will initiate a proof of concept study in patients with acute pain.