Ipsen secures global rights to Foreseen's ADC candidate in $1.03bn deal

Ipsen and Foreseen Biotechnology have formalized an exclusive global licensing agreement valued at up to $1.03 billion for the development of a preclinical antibody-drug conjugate (ADC) known as FS001. This deal grants Ipsen the global rights to develop, manufacture, and commercialize FS001, a therapeutic targeting a tumour-associated antigen prevalent in various solid tumours.

FS001 is in the final stages of preclinical development and has shown promising results, including efficacy in multi-drug resistant cancer models and a favorable safety profile. Ipsen will take charge of all Phase 1 preparation activities, including the submission of an investigational new drug application. Ipsen will also handle subsequent clinical development, manufacturing, and commercial activities globally.

In return, Foreseen Biotechnology will be eligible for up to $1.03 billion in payments, which include upfront, development, regulatory, and commercial milestone payments. Additionally, Foreseen will receive tiered royalties based on future global sales.

Mary Jane Hinrichs, Senior Vice President and Head of Early Development at Ipsen, highlighted the innovative approaches used by Foreseen to identify clinically relevant targets: “Using cutting-edge proteomics technology and artificial intelligence-powered screening platforms, 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.” She added that as they prepare for the Phase 1 clinical trial, FS001 would be evaluated in selected solid tumour types with the hope of providing critical new treatments for cancer patients globally.

Catherine Wong, Founder and Chairman of Foreseen, expressed satisfaction in collaborating with Ipsen, stating that the partnership aims to advance FS001 on a global scale. She emphasized the potential of FS001 to treat multiple cancers either as a standalone therapy or in combination with standard treatments.

ADCs represent a new generation of cancer therapies designed to precisely target and destroy tumour cells while minimizing damage to healthy cells. This approach could revolutionize cancer treatment by providing more effective and less toxic options.

FS001 is the second ADC that Ipsen has licensed this year. Earlier, Ipsen secured the exclusive global rights to develop and commercialize another preclinical ADC from Sutro Biopharma in a deal worth up to $900 million. The first ADC candidate, STRO-003, targets a tumour antigen that is overexpressed in multiple cancer types, including both solid tumours and haematological malignancies.

The agreement between Ipsen and Foreseen Biotechnology signifies a significant step forward in the development of innovative cancer therapies. By leveraging advanced technologies and collaborative efforts, the partnership aims to bring new hope to patients battling hard-to-treat cancers.