Ipsen bets $1B on Foreseen Bio's ADC asset

Ipsen has forged an exclusive worldwide licensing agreement with Foreseen Biotechnology, which could potentially be valued at up to $1.03 billion. This collaboration centers on Foreseen’s clinic-ready antibody-drug conjugate (ADC) known as FS001. This agreement is Ipsen’s second major partnership in the ADC space this year, following their deal with Sutro Biopharma in April for the ROR1-targeting STRO-003, valued at up to $900 million.

Under the terms of the latest agreement announced on Thursday, Foreseen is set to receive an undisclosed upfront payment. Additionally, the deal includes potential payments tied to clinical, regulatory, and commercial milestones, as well as tiered royalties based on sales performance.

FS001, discovered using Foreseen’s translational proteomics and advanced AI-powered screening platforms, targets a novel tumour-associated antigen commonly found in solid tumours. The ADC employs a stable linker coupled with a potent topoisomerase I inhibitor. Mary Jane Hinrichs, head of early development at Ipsen, commented on the significance of this discovery, stating, “The Foreseen team has uncovered a novel and clinically relevant target, which could unlock the potential of ADCs for even more people living with hard-to-treat forms of cancer.”

Preclinical research has demonstrated FS001’s efficacy in models of multidrug-resistant cancers. Hinrichs noted that the forthcoming Phase I clinical trials will focus on evaluating FS001 in specific types of solid tumours. Ipsen will be responsible for leading the early clinical development of FS001, including the filing of investigational new drug applications. Furthermore, Ipsen will oversee all subsequent clinical programs, production, and global commercialization activities related to FS001.

This partnership signifies a strategic move for Ipsen to expand its oncology portfolio and delve deeper into the promising field of antibody-drug conjugates. With FS001, Ipsen aims to address the needs of patients with difficult-to-treat cancers, offering new hope through innovative therapeutic approaches.