Ipsen secures 2nd preclinical ADC in $1B deal with Foreseen

Ipsen has entered into its second major antibody-drug conjugate (ADC) agreement of the year, this time forming a collaboration with Foreseen Biotechnology worth up to $1 billion for a preclinical solid tumor candidate named FS001. This partnership grants Ipsen the exclusive global rights to develop, produce, and market FS001, a potential first-in-class treatment designed to target an undisclosed tumor-associated antigen using a cleavable linker and a potent topoisomerase I (Topo1) inhibitor.

FS001 has demonstrated significant promise in preclinical models of multidrug-resistant cancers and is nearing the completion of its preclinical development phase. The financial terms of the deal include $1.03 billion in payments, encompassing upfront payments, development milestones, regulatory milestones, and commercial milestones. Additionally, Foreseen Biotechnology stands to gain tiered royalties on global sales if FS001 successfully reaches the market.

Ipsen will assume responsibility for advancing FS001 into phase 1 clinical trials, which includes preparing and submitting an investigational new drug (IND) application to the FDA. Topo1 inhibitors have garnered interest within the ADC sector, with notable acquisitions such as Eli Lilly's purchase of Mablink Biosciences and AbbVie's acquisition of ProfoundBio, both of which focus on delivering Topo1 inhibitors to cells expressing the folate receptor alpha (FRα).

This latest deal follows Ipsen's entry into the ADC field three months prior, through a $90 million agreement to obtain global rights to a preclinical candidate from Sutro Biopharma. That candidate targets the receptor tyrosine kinase-like orphan receptor 1 (ROR1) tumor antigen and saw Ipsen taking charge of its clinical development. These partnerships form part of Ipsen's external innovation strategy aimed at driving growth by supplementing existing and newly launched products and counterbalancing declining sales of somatuline.

Mary Jane Hinrichs, Ph.D., Ipsen's Senior Vice President and Head of Early Development, expressed enthusiasm about adding FS001 to Ipsen's burgeoning pipeline. She highlighted the use of advanced proteomics technology and AI-powered screening platforms by Foreseen, which led to the discovery of a novel and clinically significant target. This innovation is seen as having the potential to expand the applicability of ADCs to treat more challenging forms of cancer. As FS001 moves toward phase 1 clinical trials, Ipsen plans to evaluate it in specific solid tumor types with the goal of providing new treatments for cancer patients globally.

Foreseen Biotechnology, founded in 2021 and incubated by Massachusetts-based Nest.Bio Ventures, has maintained a relatively low profile, with its website still under development. The company utilizes a translational proteomics platform to expedite the discovery of novel therapeutic and diagnostic targets.

Beyond the realm of ADCs, Ipsen has shown interest in other therapeutic modalities. Last month, the Paris-based biotech company committed up to $1.2 billion to Marengo for a T-cell engager platform aimed at immunologically cold tumors, which are typically resistant to conventional immunotherapies.

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