Ipsen Inks Potential $1B First-in-Class ADC Deal With Foreseen

 Ipsen is licensing another antibody-drug conjugate for its cancer pipeline. Under an exclusive agreement worth more than $1 billion, Foreseen Biotechnology announced Thursday it is granting global rights to Ipsen to develop, manufacture and commercialize a potentially first-in-class preclinical asset. 

Foreseen’s FS001 is an antibody-drug conjugate (ADC) that targets a novel, unspecified antigen overexpressed in “many solid tumors,” according to the company. The antigen, identified through proprietary proteomic and AI-powered platforms, plays a critical role in tumor growth and metastasis.  

Preclinical work on FS001 showed efficacy in multi-drug resistant cancer models, Foreseen contends. Under the licensing agreement, Ipsen now assumes responsibility for Phase I preparation activities including IND application submission, as well as all clinical development, manufacturing and commercialization activities. 

“As we prepare for the initiation of a Phase I 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,” Mary Jan Hinrichs, Ipsen’s senior vice president of early development, said in a statement. 

The deal comes at a time when ADCs continue to be a hot area of biopharma investment, with the global market exceeding $10 billion last year for the first time. Analysts project a $30 billion market by 2028 and companies are laying out the biobucks to get into the space. 

The Foreseen deal is Ipsen’s second foray into the ADC area this year. Ipsen inked a potential $900 million deal with Sutro Biopharma in April 2024. The company now has exclusive rights to Sutro’s STRO-003, which is in the final stages of preclinical development. Ipsen is responsible for Phase I prep activities with the ADC candidate.

STRO-003 targets the ROR1 tumor antigen which is known to be overexpressed in many different cancer types, including solid tumors and hematological malignancies, according to Sutro. 

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