Ferring Pharmaceuticals and Foresee Pharmaceuticals Co. Ltd. have joined forces to take advantage of Foresee Pharmaceuticals' platform for developing specific formulations of a peptide therapeutic.
Foresee Pharmaceuticals' Stabilized Injectable Formulation (SIF) will allow the companies to create long-lasting, controlled-release formulations of a peptide therapeutic. Ferring Pharmaceuticals is funding the development.
Once the therapeutic is completed, Ferring Pharmaceuticals will be able to exercise its option under the agreement and enter into a definitive contract with Foresee Pharmaceuticals.
With a definitive agreement, Foresee Pharmaceuticals would receive additional payments that include upfront, milestones and royalties based on the net sales of the products.
“The technical barriers Foresee has overcome in developing stable, formulated peptides in solution for controlled release therapy for three and six-month durations of action after a single injection are quite significant, and this gives us much confidence in the potential of the SIF platform applied to complex peptide drug substances," Alan S. Harris, Ferring Pharmaceuticals' senior vice president, R&D Executive Office, said in an announcement.
"We are enthusiastic about this new collaboration,” he said.
