On July 22nd, Escugen and Foreseen Biotechnology jointly announced a significant milestone: Foreseen Biotechnology has entered into an exclusive global licensing agreement with Ipsen for the development, manufacturing, and commercialization of FS001ESG408, a novel antibody-drug conjugate (ADC). The agreement was signed on July 11th, 2024.
Under the terms of the deal, Ipsen will assume full responsibility for the drug's development, production, and market launch. In return, Foreseen Biotechnology is eligible to receive an upfront payment of $1.03 billion, as well as potential milestone payments tied to development, regulatory approval, and commercial success. Additionally, Foreseen Biotechnology will share in the global sales of the drug through tiered royalties.
Llinks acted as counsel to Escugen, providing comprehensive legal support for the licensing project.
This landmark deal represents a significant achievement for Escugen and Foreseen Biotechnology, whose collaborative efforts have resulted in the first-ever licensing of a Chinese-developed First-in-Class ADC to a global pharmaceutical leader.
