#Taiwan #Taipei #Foresee Pharmaceuticals #FP-014 #CAMCEVI

Foresee Pharmaceuticals Secures $42.1 Million through Successful Public Offering

Foresee Pharmaceuticals, listed on the Taipei Exchange under the ticker TPEx: 6576, has recently announced a significant milestone in its funding journey. The biopharmaceutical company has successfully completed an underwritten public offering, securing NT$1,368 million (equivalent to $42.1 million USD) through the sale of 18,000,000 shares at a price of NT$76 per share.

The capital raised from this public offering is set to be allocated towards various corporate initiatives, particularly the advancement of several clinical trials for innovative therapies currently in development. Foresee is focusing on three prominent projects: FP-014, an extended-release injectable treatment for advanced prostate cancer; FP-020, a promising treatment for both asthma and inflammatory bowel disease; and FP-045, which targets pulmonary hypertension.

Dr. Ben Chien, the founder and chairman of Foresee, expressed his satisfaction with the successful offering and thanked shareholders for their unwavering support. He highlighted that this funding will be instrumental in accelerating their research and development (R&D) activities, ultimately enhancing shareholder value.

The Products in Focus

1. FP-014 (Triptorelin): This product is a long-acting injectable that can be administered either quarterly or semi-annually. It is currently undergoing two Phase 3 clinical trials targeting advanced prostate cancer, an area with significant medical need.
2. FP-020 (Linvemastat): An MMP-12 inhibitor, this treatment is in Phase 2 studies aimed at addressing asthma and inflammatory bowel disease (IBD). Given the rising prevalence of these conditions, the potential impact of this drug could be substantial.
3. FP-045 (Mirivadelgat): A distinctive ALDH2 activator, FP-045 is poised to enter a Phase 2 clinical trial for patients suffering from pulmonary hypertension associated with interstitial lung disease (PH-ILD).

Company's Strategic Vision

Foresee Pharmaceuticals operates with a vision that marries innovation to pressing health needs. The company's R&D is steered towards creating unique drug formulations that significantly improve patient outcomes within niche markets. Achievements like the recent funding will enable the development of both early and late-stage programs.

One of the flagship products, CAMCEVI® (42 mg formulation), is already approved and has been launched in multiple prominent markets, including the U.S., EU, Taiwan, and the UK for the treatment of advanced prostate cancer. This showcases Foresee's commitment to addressing critical health issues.

Moreover, there are ongoing regulatory submissions for CAMCEVI's extended release (3-month) formulation alongside clinical trials examining its additional applications in treating conditions like central precocious puberty and premenopausal breast cancer.

Foresee is also developing Aderamastat (FP-025), targeting inflammatory and fibrotic diseases, which has shown promising results in earlier studies. The complementary approach to develop other candidates like Linvemastat and Mirivadelgat ensures that Foresee maintains a robust pipeline of innovative therapies.

In conclusion, the completion of this public offering marks a proactive step for Foresee Pharmaceuticals, allowing for accelerated progress in its clinical trials and ongoing drug development programs. The commitment to meet the needs of patients battling severe conditions remains at the forefront of Foresee's strategic direction, underscoring the company's pivotal role in the biopharmaceutical industry.