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Taiwan-based Foresee Pharmaceuticals has announced that Foresee Pharmaceuticals USA Inc., the company's fully-owned US subsidiary, has officially signed an exclusive global licensing agreement with Primevera Therapeutics, LLC for its MMP-12 inhibitor programmes. The agreement includes FP-025, FP-020 and third-generation MMP-12 inhibitors currently in the drug discovery stage.
In return, Foresee USA will receive an upfront payment of $10 million, future potential milestones of up to $574.5 million and tiered single-digit percentage royalties. Furthermore, Foresee USA will hold a 19% equity interest in Primevera. This transaction will have a positive and material impact on boosting Foresee's working capital and shareholder equity, while reducing R&D expenses and reinforcing financial stability, with a focus on near to mid-term profitability.
This strategic move marks a transformative milestone for Foresee, enabling the company to streamline operations and prioritises its SIF (Stabilised Injectable Formulation) portfolio. Foresee is at a pivotal junction in its growth trajectory, and intends on building its revenue stream by concentrating resources on CAMCEVI, and its FP-001, 6-month long-acting injectable which has recently completed a successful pivotal P3 study in central precocious puberty patients (CPP), with an NDA submission targeted in 2026.
The CAMCEVI six-month formulation has demonstrated stable sales in the US and the three-month formulation, which holds broader commercial potential is expected to launch in Q4 2026. Foresee is also exploring its strategic options related to the future commercialisation of FP-001 in CPP. Simultaneously, the agreement with Primevera allows Foresee to maintain significant upside in its NCE (New Chemical Entity) pipeline, while maximizing capital efficiency and working towards profitability.
Going forward, Primevera will assume all subsequent costs for the MMP-12 inhibitors. The development will focus on the following key programmes:
FP-020: Preparing an Investigational New Drug (IND) application for a Phase II clinical trial in asthma, with submission to the US FDA expected in early 2026.
FP-025: Preparing for future Phase II clinical trials in rare disease indications.
