TAIPEI, Taiwan and ISTANBUL, Sept. 27, 2017 /PRNewswire/ -- Foresee Pharmaceuticals Co., Ltd. (6576.TWO) ("Foresee"), a Taiwan and US-based biopharmaceutical company and TRPharm, a leading Turkish biopharmaceutical company, announced today that they have entered into an exclusive license and distribution agreement for the commercialisation in Turkey and certain Middle East countries of Foresee's FP-001 program, LMIS (Leuprolide Mesylate Injectable Suspension) ready-to-use subcutaneous depot formulations. Under the terms of this partnership, Foresee will receive a combination of milestones payments in addition to a significant share of the product revenue in the territory. TRPharm will cover all costs for registration and commercialization in the territory.
Dr. Ben Chien, Founder and Executive Chairman of Foresee commented: "We are very pleased to have established this collaboration with TRPharm, whose established track record of successful registrations and launches of complex specialty products makes us confident that they will make our FP-001 franchise a major success in their market. This is the first of many key strategic transactions we are seeking to close over the upcoming months in order to establish a strong network of quality partners that will make our FP-001 franchise a global commercial success."
Mehmet Göker, General Manager of TRPharm, commented, "Prostate cancer is one of the most common cancers and among the leading causes of cancer deaths. As an example of our commitment to add value via better access to healthcare, we believe this partnership will improve the quality of treatment for patients in our region. As a company focused on sophisticated and niche treatment areas, we at TRPharm are delighted to see Foresee Pharmaceuticals as a prestigious new partner by our side. We look forward to an ever expanding and fruitful cooperation in the coming years."
About Foresee Pharmaceuticals Co. Ltd.
Foresee is a Taiwan and US-based biopharmaceutical company listed on the Taipei Exchange. Foresee's R&D efforts are focused in two key areas, namely its unique stabilized injectable formulation (SIF) depot delivery platform and derived drug products targeting specialty markets, and its transformative early stage preclinical and clinical NCE programs targeting inflammatory & fibrotic diseases and other disease areas with highly unmet needs. Foresee's product portfolio includes late stage and early stage programs such as FP-001, a stable, premixed, prefilled version of leuprolide depot for injection, which has recently successfully completed a global Phase 3 Registration Study, FP-025, a highly selective oral MMP-12 inhibitor targeting inflammatory and fibrotic diseases, currently completing a Phase 1 study, and FP-045 a highly selective oral small molecule Agonist of ALDH2 (Aldehyde Dehydrogenase 2), a mitochondrial enzyme acting as a key regulator of reactive aldehydes, oxidative stress and mitochondrial-mediated diseases such as liver, muscle and cardiovascular diseases. Please visit Foresee's website at www.foreseepharma.com.
TRPharm is a biopharmaceutical company focused on innovation with investments into R&D and a cutting edge biotechnological manufacturing capability with the aim of becoming a regional commercial player based out of Turkey. TRPharm focuses on the launch of new and innovative medicines starting from registration and accomplishment of clinical programs in all phases, as well as building a biotech manufacturing facility in Turkey for the supply of monoclonal antibodies to CIS and MENA region besides the local market. TRPharm has a wide product portfolio, led by oncology, neurology, inflammatory and rare diseases.
For more information:
Business Development Enquiries:
Mathieu Boudreau, Ph.D.
Vice President, Business Development
Chief Financial Officer
Business Development Enquiries:
Ozan Efe Ertem
Senior Manager, Strategy, Business Development
TRPharm İlaç San. Tic. A.Ş.
SOURCE Foresee Pharmaceuticals Co., Ltd.