Domestic First-in-Class ADC Achieves Global Licensing Breakthrough: SJ Biopharma and Foreseen Biotech's Novel-Target ADC FS001 Secures Exclusive Global License with Ipsen for Up to $1.03 Billion
Ipsen
Biopharmaceutical Manufacturer
Escugen, an outstanding company invested by Daoyuan Capital, and Yuyan Technology (Beijing) Co., Ltd. have reached an exclusive global licensing agreement with Ipsen for FS001. The total amount of this transaction is $1.03 billion., including upfront payment, development, regulatory and commercialization milestone payments, as well as tiered royalties on global sales following successful development and regulatory approval. Under the terms of the agreement, Ipsen will be responsible for Phase I preparations, including submitting the Investigational New Drug (IND) application, and all subsequent clinical development, manufacturing, and global commercialization activities.
FS001 is a first-in-class (FIC) potential antibody-drug conjugate (ADC) targeting a novel tumor-associated antigen.This pipeline is the first-in-class ADC drug pipeline in China to have reached a license-out agreement with an MNC.FS001 targets a novel tumor-associated antigen that is overexpressed in many solid tumors and plays a key role in tumor proliferation and metastasis, demonstrating promising preclinical efficacy in various drug-resistant cancer models.
Escugen is mainly responsible for ADC platform technology, CMC, and other aspects; Yuyan Technology (Beijing) Co., Ltd. primarily focuses on target discovery and antibody screening. This novel tumor antigen was discovered by Yuyan's proprietary high-throughput, integrative translational proteomics and artificial intelligence (AI)-driven screening platform through the analysis of a large number of clinically characterized tumor samples. Escugen contributed the linker-payload technology platform, and FS001 utilizes an innovative, stable, and cleavable linker conjugated with a highly potent topoisomerase I inhibitor.
Ipsen is one of the top three multinational pharmaceutical enterprises in France, alongside Sanofi and Servier. Ipsen is a global biopharmaceutical company focused on providing innovative drugs to patients in the three therapeutic areas of oncology, rare diseases, and neuroscience. The company’s product pipeline is driven by external innovation, supported by nearly 100 years of development experience and global centers in the United States, France, and the United Kingdom, with teams across more than 40 countries delivering medications to patients in over 80 countries.
Appendix: Global ADC Pipeline Transaction Status in Recent Years
About Escugen
Escugen is a clinical-stage ADC new drug development company with an ADC clinical pipeline and comprehensive new drug R&D capabilities. The company was founded in 2017 in the Zhangjiang High-Tech Park in Pudong New Area, Shanghai, by veteran "returnee" scientists with decades of experience in both overseas and Chinese biopharmaceutical enterprises. The team’s expertise covers all aspects from laboratory to clinical research, including antibody engineering, antibody drug discovery, preclinical research, bioconjugation, CMC, quality research and medical monitoring, clinical operations, data management, and pharmacovigilance. The company already has two new drugs in clinical research, with one new drug entering phase III clinical trials.
In addition, Escugen has established a new generation of ADC platform technology with independent intellectual property rights — EZWi-Fit®. This technology surpasses the benchmark technologies in the international ADC field across multiple dimensions. Relying on this ADC platform technology, Escugen is expanding the layout of "First-in-Class" and "Best-in-Class" ADC pipelines and has successfully licensed the technology platform externally. Meanwhile, the company has built an extensive global business development network and reached business and strategic cooperation with several top global biotech companies. The completion of this overseas transaction marks the success of Escugen's new generation ADC platform technology and its recognition by multinational pharmaceutical enterprises.
About Daoyuan Capital
DaoYuan Capital is a leading private equity investment institution focused on the healthcare sector, dedicated to helping outstanding healthcare companies grow rapidly by leveraging capital and industry resources, providing better medical products and services to society, and promoting human health.
Currently, Daoyuan Capital manages 19 RMB funds and 4 USD funds, with a total of 90 outstanding projects invested, including 16 IPO projects (one of which has obtained the CSRC registration approval), such as Aier Ophthalmology (301239), Jinxin Fertility (HK.1951), Sinomed (688108), Innovax (688253), Tinavi Medical Technologies (688277), Viva Biotech (HK.1873), BioPerfectus (688393), and Ags (688581). As of the date in 2024, two enterprises have filed for IPO, and more than 10 invested companies are expected to enter the IPO process in the next three years.
