Foresee Pharmaceuticals announced on the 13th that it has identified the exclusive global licensee for its MMP-12 inhibitor as Jabbly Pharmaceuticals, LLC, a newly established U.S. company under QPS, which was founded by Foresee Pharmaceuticals Chairman Ming-Dar Chien. Under the agreement, Foresee Pharmaceuticals will receive an upfront payment of US$10 million, milestone payments of up to US$574 million, and single-digit percentage royalties on sales. In addition, Foresee Pharmaceuticals will acquire a 19% equity stake in Jabbly, while all subsequent development costs related to the program will be borne by Jabbly.
As the transaction constitutes a related-party transaction and the total transaction amount exceeds 10% of the company’s total assets, Foresee Pharmaceuticals has announced that it will convene an extraordinary shareholders’ meeting on December 16, 2025, to deliberate on the matter. The transaction will be executed only upon approval.
Foresee Pharmaceuticals previously announced on October 28 that its board of directors had approved the exclusive global licensing of the MMP-12 inhibitor owned by its wholly owned U.S. subsidiary, Foresee Pharmaceuticals USA Inc., to a newly established company. This transaction was classified as a related-party transaction, with all subsequent development costs for the MMP-12 inhibitor to be assumed by the new company. In return, Foresee Pharmaceuticals USA Inc. would receive a US$10 million upfront payment, subsequent milestone payments and royalties, as well as an equity stake in the licensee. The equity ratio and other transaction terms were to be announced following a November board meeting.
In a supplementary announcement on the 13th, Foresee Pharmaceuticals stated that the board had approved licensing the MMP-12 inhibitor to Jabbly, newly established by QPS in the state of Delaware, United States, with all subsequent development costs to be borne by Jabbly. QPS (Quest Pharmaceutical Services) is a long-term strategic shareholder of Foresee Pharmaceuticals and was founded by Chairman Ming-Dar Chien. QPS has established a strong presence in the global CRO industry, and Foresee Pharmaceuticals originated from QPS’s R&D division in 2013.
The licensing terms were also disclosed, under which Foresee Pharmaceuticals will receive a US$10 million upfront payment upon signing, milestone payments of up to US$574.5 million, and single-digit percentage royalties on sales, in addition to acquiring a 19% equity stake in Jabbly.
Foresee Pharmaceuticals also released its financial results for the first three quarters, reporting consolidated revenue of NT$379 million, a pre-tax net loss of NT$729 million, a net loss for the period of NT$736 million, a net loss attributable to owners of the parent of NT$736 million, and a basic loss per share of NT$4.78.
Resource: 逸達MMP-12全球獨家授權關係人QPS，總簽約及里程金最高5.84億美元
