Foresee Pharma out-licenses FP-001 program

Accord Healthcare, a UK-based subsidiary of Indian biopharma company Intas Pharmaceuticals, has been granted the rights to a novel FP-001 program (leuprorelin depot), leuprolide mesylate injectables (LMIS) ready-to-use subcutaneous depot formulations by Foresee Pharmaceutical (6576. TWO).

Under the terms of this partnership, Foresee, a Taiwan and USA based biopharmaceutical company, will receive a combination of upfront, regulatory milestones and sales milestones payments totalling up to$ 86 million in addition to a significant share of the product revenue in the territory. Accord Healthcare will cover all costs of commercialisation in the territory. Despite the news, Foresee’s shares fell 4.47% to 66.30 won by close of trading today.

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. Rights to the program for Turkey and the Middle East markets were granted to TRPharm in 2017.