Foresee Pharmaceuticals is accelerating its drug development efforts. At the financial results briefing on the 3rd, Chairman Ben Chien stated that in addition to CAMCEVI’s six-month formulation achieving approximately a 15% market share in the U.S., the company plans to submit a U.S. drug application for the three-month formulation in the second half of the year. Several innovative drugs are progressing on schedule, with each indication having a market potential exceeding $1 billion. “Licensing deals could happen at any stage,” he noted.
As Foresee Pharmaceuticals enters a period of revenue harvesting, the new prostate cancer treatment, CAMCEVI, contributes to revenue mainly through profit-sharing from end-market sales and direct sales to U.S. distributors on an irregular basis. Although the company did not directly supply U.S. distributors in May, resulting in a month-over-month revenue decline, profit-sharing based on end-market sales for May was strong, with 2,311 units sold in a single month in the U.S., maintaining a market share of around 15%, a new high. Revenue for the first five months of the year reached $166 million NTD, a 480% year-over-year increase.
Dr. Chien stated that several new drugs are in development. The MMP-12 inhibitor FP-025 completed a successful proof-of-concept study for allergic asthma in 2023 and is preparing for a Phase 2 clinical trial for cardiac sarcoidosis. The subsequent compound, FP-020, is undergoing Phase 1 clinical trials in Australia, with Phase 2 trials for asthma and inflammatory bowel disease (IBD) in preparation.
He added that the ALDH2 activator FP-045 is currently enrolling patients in a Phase 2 trial for Fanconi anemia and has submitted a Phase 2 trial application to the U.S. FDA for pulmonary hypertension associated with interstitial lung disease (PH-ILD).
Dr. Chien emphasized that these innovative drugs, based on licensing amounts and patient models for similar indications, are projected to have potential peak annual sales exceeding $1 billion per indication. He mentioned recent commercial cases of international pharmaceutical companies licensing or acquiring innovative drugs with novel mechanisms of action for indications such as immunofibrosis, IBD, asthma, and rare diseases (including pulmonary hypertension). The enthusiasm for innovative targeted drugs remains high, with transaction amounts for similar stage deals showing significant growth trends.
Dr. Chien reiterated that licensing deals can occur at any stage of new drug development. Foresee Pharmaceuticals will carefully balance risk and reward to maximize the value of its innovative drugs. While continuing to advance clinical development and create favorable conditions for licensing, the company will also maintain ongoing discussions with international pharmaceutical companies.
Resource (mandarin): 逸達新藥每項適應症潛在市場逾10億美元 董座：授權案隨時可發生
