03 October 2017 | News
The deal aims at commercialization of Forsee's prostate cancer drug in Turkey
Taiwan’s Forsee Pharmaceuticals has inked an exclusive license and distribution agreement with Turkish biopharma company TRPharm for the commercialisation of Foresee's FP-001 program, LMIS (leuprolide mesylate injectable suspension) ready-to-use subcutaneous depot formulations Turkey and certain Middle East countries.
As per the terms, TRPharm will cover all costs for registration and commercialization in Turkey, while Foresee will receive a combination of milestones payments in addition to a significant share of the product revenue.
Dr Ben Chien, founder and executive chairman of Foresee, commented: "We are very pleased to have established this collaboration with TRPharm, whose established track record of successful registrations and launches of complex specialty products makes us confident that they will make our FP-001 franchise a major success in their market. This is the first of many key strategic transactions we are seeking to close over the upcoming months in order to establish a strong network of quality partners that will make our FP-001 franchise a global commercial success."
Mehmet Göker, general manager of TRPharm, added: "Prostate cancer is one of the most common cancers and among the leading causes of cancer deaths. As an example of our commitment to add value via better access to healthcare, we believe this partnership will improve the quality of treatment for patients in our region. As a company focused on sophisticated and niche treatment areas, we at TRPharm are delighted to see Foresee Pharmaceuticals as a prestigious new partner by our side. We look forward to an ever expanding and fruitful cooperation in the coming years."
Forsee Pharmaceuticals recently appointed Dr. Lawrence Gan to the position of Chief Executive Officer (CEO), effective on Aug. 1st, 2017. “We are excited to have Dr. Lawrence Gan join us to lead our global team into this fast expansion stage,” said Dr. Ben Chien, Executive Chairman of Foresee. “Dr. Gan’s extensive hands-on drug development experience and insights in government policy-making will provide invaluable resources to Foresee’s long term growth.”
Prostate cancer is on the rise in Asia and it has been ranked as the sixth of the most frequent cancers in 2012 among Asian countries.