Taiwan-based biopharmaceutical company Foresee Pharmaceuticals Co., Ltd. (TPEX: 6576) said on Thursday that it has granted exclusive global rights to its MMP-12 inhibitor programmes to Primevera Therapeutics, LLC.

The agreement was signed by Foresee Pharmaceuticals USA Inc., the company's wholly owned US subsidiary, and covers FP-025, FP-020 and third-generation MMP-12 inhibitors currently in drug discovery.

Foresee will receive a USD10m upfront payment, potential milestone payments of up to USD574.5m, tiered single-digit royalties and a 19% equity stake in Primevera, with entitlement to a tiered share of any sublicense proceeds in place of milestones and royalties.

Primevera will assume all future development costs, including preparation of an Investigational New Drug application for FP-020 ahead of a Phase II asthma trial targeted for early 2026, and future Phase II trials for FP-025 in rare disease indications.

The transaction aims to enable Foresee to streamline operations and prioritise its Stabilised Injectable Formulation portfolio, while maintaining upside exposure to its new chemical entity pipeline. The company is instead focusing resources on CAMCEVI and FP-001, its six-month long-acting injectable for central precocious puberty, which has completed a pivotal Phase III study with an NDA submission targeted in 2026. CAMCEVI's six-month formulation has shown stable US sales, while a three-month formulation is expected to launch in the fourth quarter of 2026.