Ipsen And Foreseen Biotechnology Strike Deal For FS001, Antibody-Drug Conjugate

(RTTNews) - Ipsen (IPSEY) and Foreseen Biotechnology have entered into an exclusive global licensing agreement for FS001, an antibody-drug conjugate or ADC with first-in-class potential.

FS001 targets a novel tumor associated antigen, highly expressed across a range of solid tumors, identified through the application of Foreseen's proprietary proteomic platforms.

The company noted that FS001 has demonstrated robust preclinical efficacy in multiple tumor models and exhibits a favorable preclinical safety profile.

Foreseen Biotechnology is eligible to receive up to $1.03 billion comprising upfront, development, regulatory and commercial milestone payments, and tiered royalties on global sales, contingent upon successful development and regulatory approvals.

As per the terms of the agreement, Ipsen will assume responsibility for Phase I preparation activities, including submission of the Investigational New Drug (IND) application, and all subsequent clinical-development, manufacturing, and global commercialization activities.