BMY - Week In Review: Foreseen Sells ADC Rights To France's Ipsen In $1 Billion Deal
2024-07-14 06:44:00 ET
Summary
- Foreseen Biotechnology out-licensed global rights for an ADC candidate to France’s Ipsen in a deal potentially worth over $1 billion.
- Biokin Pharma filed to stage an IPO on the Hong Kong Exchange that could raise $500 million.
- Keymed Biosciences out-licensed global rights (ex-China) for a pair of bispecific candidates to Belenos Biosciences in a $185 million agreement.
Deals and Financings
China’s Foreseen Biotechnology out-licensed global rights for an ADC candidate to France’s Ipsen ([[IPSEF]], [[IPSEY]]) in a deal potentially worth over $1 billion (see story ). FS001 targets a novel tumor associated antigen, which is highly expressed in a range of solid tumors and plays a critical role in tumor proliferation and metastasis. This novel tumor antigen was identified using Foreseen’s high throughput, integrated translational proteomics, and artificial intelligence ((AI))-powered screening platforms. The transaction was Ipsen’s second ADC acquisition this year, following a $900 million deal in April for rights to Sutro Biopharma’s (STRO) preclinical ROR1-targeting ADC....
Week In Review: Foreseen Sells ADC Rights To France's Ipsen In $1 Billion Deal