Thursday, September 28, 2017
Foresee Pharmaceuticals Co., Ltd., a Taiwan and US-based biopharmaceutical company and TRPharm, a leading Turkish biopharmaceutical company, announced today that they have entered into an exclusive license and distribution agreement for the commercialisation in Turkey and certain Middle East countries of Foresee's FP-001 program, LMIS (Leuprolide Mesylate Injectable Suspension) ready-to-use subcutaneous depot formulations. Under the terms of this partnership, Foresee will receive a combination of milestones payments in addition to a significant share of the product revenue in the territory. TRPharm will cover all costs for registration and commercialization in the territory.
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, commented, "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."
