Foresee Pharmaceuticals and Megapharm Announce License and Distribution Agreement
TAIPEI, Taiwan and RAANANA, Israel, Jan. 3, 2018 /PRNewswire/ -- Foresee Pharmaceuticals Co., Ltd. (6576.TWO) ("Foresee"), a Taiwan and US-based biopharmaceutical company and Megapharm Ltd. ("Megapharm"), a leading Israel-based biopharmaceutical company, announced today that they have entered into an exclusive license and distribution agreement for the commercialisation in Israel and the Palestinian Authority of Foresee's FP-001 program, LMIS (Leuprolide Mesylate Injectable Suspension) ready-to-use subcutaneous depot formulations.
Dr. Ben Chien, Founder and Executive Chairman of Foresee commented: "We are enthusiastic and see a high potential in this new collaboration with Megapharm. They are a key specialty pharma player in their region and have deep commercial expertise and experience in oncology and urology. We entrust them in maximizing FP-001 franchise value in this market well known for its innovation and new product launches. With two commercial partnerships established over the last few months, we are pleased with the momentum in our FP-001 franchise partnering discussions and the quality of partners we are engaging."
Miron Drucker, CEO and Founder of Megapharm, commented: "We are very pleased to have established a partnership with Foresee and look forward to a successful registration and launch of the FP-001 franchise in Israel. The products will provide meaningful advantages and benefits to patients and all medical practice stakeholders."
About Foresee Pharmaceuticals Co. Ltd.
Foresee is a Taiwan and US-based biopharmaceutical company listed on the Taipei Exchange. Foresee's R&D efforts are focused in two key areas, its unique stabilized injectable formulation (SIF) depot delivery platform and derived drug products targeting specialty markets, and its transformative early stage preclinical and clinical NCE programs targeting inflammatory & fibrotic diseases with highly unmet needs. Foresee's product portfolio includes late and early stage programs such as FP-001, a stable, premixed, prefilled version of leuprolide depot (recently successfully completed a global Phase 3 Registration Study), FP-025, a highly selective oral MMP-12 inhibitor targeting inflammatory and fibrotic diseases (recently completed Phase 1 studies), and FP-045, a highly selective oral small molecule Agonist of ALDH2 (Aldehyde Dehydrogenase 2), a mitochondrial enzyme acting as a key regulator of reactive aldehydes, oxidative stress and mitochondrial-mediated diseases in liver, muscle and cardiovascular diseases.
About Megapharm
Megapharm Ltd. is one of the leading private biopharmaceutical marketing companies in Israel with a strong biotech orientation, exclusively representing a number of major American and European pharmaceutical companies. Megapharm has demonstrated dynamic sales growth by developing a strong company presence and expertise in select therapeutic areas and diversified segments of the healthcare business.
For more information:
Foresee Pharmaceuticals (www.foreseepharma.com)
Business Development Enquiries:
Mathieu Boudreau, Ph.D.
Vice President, Business Development
Foresee Pharmaceuticals
mathieu.boudreau@foreseepharma.com
Investor Relations:
Patricia Chou
Chief Financial Officer
Foresee Pharmaceuticals
Patricia.Chou@foreseepharma.com
Megapharm (www.megapharm.co.il)
Business Development Enquiries:
Ran Levin
Head of Business Development,
Megapharm Ltd.
rlevin@megapharm.co.il
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