Singapore, Jan. 9 -- Taiwan-based Foresee Pharmaceuticals has announced that Foresee Pharmaceuticals USA Inc., the company's fully-owned US subsidiary, has officially signed an exclusive global licensing agreement with Primevera Therapeutics, LLC for its MMP-12 inhibitor programmes. The agreementincludesFP-025, FP-020andthird-generation MMP-12 inhibitors currently in the drug discovery stage.

In return, Foresee USA will receive an upfront paymentof $10 million, future potential milestones of up to $574.5 million and tieredsingle-digit percentage royalties. Furthermore, Foresee USA will hold a 19% equity interest in Primevera.This transaction will have a positive and material impact on boosting Foresee's working capital and shareholder eq...