Ipsen and Foreseen Biotechnology have announced an exclusive global licensing agreement for Foreseen's potential first-in-class antibody-drug conjugate (ADC), FS001.
Foreseen will receive up to $1.03 billion in upfront, development, regulatory and commercial milestone payments, along with tiered royalties on global sales contingent upon successful development and regulatory approvals. Under the agreement, Ipsen will oversee phase 1, including the submission of the IND application and will have worldwide rights to develop, manufacture and commercialize FS001.
FS001 targets a novel tumor-associated antigen, identified through Foreseen's advanced proteomic platforms, which is highly expressed across various solid tumors.
The drug has shown preclinical efficacy in multiple tumor models and exhibits a favorable safety profile. The ADC uses a stable, cleavable linker combined with a potent topoisomerase I inhibitor. The antigen targeted by FS001 plays a crucial role in tumor proliferation and metastasis, making it a promising candidate for treating difficult-to-treat cancers.
Ipsen's first ADC acquisition was secured back in April when the French drugmaker struck a global licensing deal with Sutro Biopharma for STRO-003. This ADC targets the ROR1 tumor antigen, which is overexpressed in various cancers. The agreement included up to $900 million in upfront payments, equity investment and tiered royalties on global sales.