On March 4, 2021 Foresee Pharmaceuticals (6576.TWO) ("Foresee") announced today that it has entered into an exclusive license agreement with Intas Pharmaceuticals ("Intas") for the US commercialization of Foresee’s novel FP-001 program, Leuprolide Mesylate Injectable Suspension (LMIS) ready-to-use subcutaneous 6-month and 3-month depot formulations ("Camcevi") (Press release, Foresee Pharmaceuticals, MAR 4, 2021, View Source [SID1234576128]). The application for the 3-month indication of Camcevi has not yet been filed with the US Food and Drug Administration (FDA) and is under development by Intas and Foresee, the Section 505(b)(2) New Drug Application for the 6-month Camcevi indication, is currently under review by the FDA.
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Under the terms of this partnership, Foresee, a Taiwan and US-based biopharmaceutical company, will receive 10 million US Dollars upfront, along with certain regulatory milestones and sales milestones payments having a combined value totaling up to 207 million US dollars, plus a share of the product revenue in the territory. Intas’ US affiliate, Accord BioPharma, Inc. will be commercializing the Camcevi products in the US market. Intas, a global biopharmaceutical company, will cover all costs of commercialization in the territory.
Dr. Ben Chien, Founder and Executive Chairman of Foresee commented: "We are very pleased to have entered into this license agreement with Intas for commercialization of Camcevi in the US; it allows us to build on our existing partnership with Intas, where they have demonstrated strong commitment to the success of this complex and promising product. We look forward to successfully leveraging Intas’ US commercial platform together."
Chrys Kokino, President US Specialty at Accord Healthcare Inc., said "Intas and its US specialty arm, Accord BioPharma, Inc., is very committed to bringing complex and accessible, added value medicines to the US market, improving the standard of care and ultimately the lives of patients and the public health in general. This agreement will contribute another key therapy to our fast-growing US business. We look forward to continuing our successful collaboration with Foresee."