TAIPEI, Taiwan, Feb. 11, 2019 /PRNewswire/ -- An exclusive license agreement for the commercialisation of Foresee Pharmaceutical's (6576.TWO) novel FP-001 program (leuprorelin depot), Leuprolide Mesylate Injectable Suspension (LMIS) ready-to-use subcutaneous depot formulations has been granted to Accord Healthcare.
Under the terms of this partnership, Foresee, a Taiwan and US-based biopharmaceutical company, will receive a combination of upfront, regulatory milestones and sales milestones payments totalling up to 86 million US dollars in addition to a significant share of the product revenue in the territory. Accord Healthcare, a global biopharmaceutical company, will cover all costs of commercialisation in the territory.
The license agreement will cover the global market with the exception of the USA, mainland China, Japan, Taiwan and previously partnered territories, Israel, Turkey and certain Middle East countries.
Dr. Ben Chien, Founder and Executive Chairman of Foresee commented: "We are very pleased to have established this collaboration with Accord, whose established track record of successful registrations and launches of complex oncology and specialty products makes us confident that they will make our FP-001 portfolio a major success in their market. Accord has a remarkable commercial team and infrastructure in place and we are highly confident in their ability to successfully leverage their commercial platform."
James Burt, Executive Vice President, Europe said: "Accord is very committed to bringing complex, added value medicines to market, improving the standard of care and ultimately the lives of patients. This agreement will contribute another key therapy to our already extensive oncology franchise and our comprehensive footprint will ensure that patients and healthcare providers can access this differentiated cancer therapy. We look forward to a mutually beneficial, successful collaboration with Foresee."
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 technology and derived drug products targeting specialty markets, and its transformative preclinical and clinical first-in-class NCE programs targeting disease areas with high unmet needs. Foresee's product portfolio includes late stage and early stage programs such as FP-001, a stable, ready-to-use version of leuprolide mesylate depot for injection, the 6-month depot version has successfully completed a global Phase 3 Registration Study in advanced stage prostate cancer patients with regulatory submissions planned in 2019 and a 3-month depot version for which a Phase 3 trial should be complete in late 2018; FP-025, a highly selective oral MMP-12 inhibitor targeting inflammatory and fibrotic diseases, currently in a Phase 2 proof-of-concept study; FP-045, a highly selective oral small molecule allosteric activator of ALDH2, a mitochondrial enzyme, for which a Phase 1b/2 study is currently in planning (Fanconi Anemia; mitochondrial-mediated diseases); and FP-004, a novel, subcutaneously injectable depot product in development for the treatment of opioid use disorder and pain. www.foreseepharma.com
About Accord Healthcare
Headquartered in the United Kingdom (UK), Accord Healthcare is one of the fastest growing generic pharmaceutical and biosimilar companies in Europe. Accord has an extensive supply chain through its four UK based sites, helping to ensure a consistent supply of life-enhancing medicines for patients, whilst supporting customers to react quickly to dynamic market conditions. www.accord-healthcare.co.uk
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SOURCE Foresee Pharmaceuticals Co., Ltd.