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Ipsen strikes $1B+ ADC deal with China-based Foreseen Biotechnology

The deal grants Ipsen exclusive global rights for development, manufacturing and commercialization of FS0001.

Molly Huth

July 11, 2024

12:20 pm

Credit: Getty Images / Yuichiro Chino

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Ipsen and Foreseen Biotechnology announced an exclusive licensing agreement for FS001, an antibody drug conjugate (ADC), on Thursday morning.

The deal, which could reach up to $1.03 billion, grants Ipsen exclusive global rights for development, manufacturing and commercialization of FS0001, a potentially first-in-class ADC discovered by Foreseen.

The ADC targets a novel tumor-associated antigen which is overexpressed in many solid tumors and allows for proliferation and metastasis.

Currently, FS0001 is in a preclinical trial which has demonstrated efficacy in multiple tumor models as well as a favorable safety profile.

Upon the agreement, Ipsen will be responsible for Phase 1 preparations for the drug candidate.

“As we prepare for the initiation of a Phase 1 clinical trial, we will evaluate FS001 in selected solid tumor types, which we hope will deliver critical new treatments for people living with cancer around the world,” said Mary Jane Hinrichs, SVP and head of early development at Ipsen, in a statement.

This marks the second ADC deal Ipsen has made this year. In April, the French drugmaker announced an agreement worth up to $900 million with Sutro Biopharma for STRO-003, an ADC which targets the ROR1 tumor.

Meanwhile, Foreseen, an emerging China-based biotech, is eligible to earn just over $1 billion consisting of upfront, development, regulatory and commercial milestone payments related to FS001.

Catherine Wong, founder and chairman of Foreseen, said in a statement that this partnership represents an endorsement of the company’s proteomics platform approach to discovering and developing therapeutic products with first-in-class potential.

“We are pleased to be collaborating with Ipsen to advance FS001 globally, harnessing Ipsen’s robust track record in accelerating the clinical development and commercialization of innovative therapeutics,” she added. “We believe FS001 has the potential to treat multiple cancers as a single agent or in combination with standard of care.”

ADCs continue to be popular investments and transactional assets for Big Pharma companies.

Over the last year, pharma giants like Johnson & Johnson, AbbVie, Merck and Pfizer all made sizable deals for the development of ADCs.

Notably, the Ipsen announcement comes just over a week after Tokyo-based pharma company Eisai announced the end of its $650 million ADC collaboration with Bristol Myers Squibb.

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Ipsen strikes $1B+ ADC deal with China-based Foreseen Biotechnology

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