On February 11, 2019 Foresee Pharmaceutical reported an exclusive license agreement for the commercialisation of (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 (Press release, Foresee Pharmaceuticals, FEB 11, 2019, View Source [SID1234554013]).
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
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."