Foresee Pharma inks distribution deal for PF-001 LMIS in Turkey

Taiwan-based Foresee Pharmaceuticals (TWO: 6576) has entered into an exclusive license and distribution agreement with Turkish biopharma company TRPharm 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."