Frontier Medicines Corporation, a clinical-stage precision medicines company, announced on Wednesday that it has entered into an exclusive licensing agreement with South Korean chemical company LG Chem Ltd (KRX:051910) for FMC-220, granting LG Chem worldwide rights outside Greater China while Frontier retains full ownership in Greater China.

FMC-220 is Frontier's first-in-class covalent p53 Y220C activator targeting solid tumours with TP53 loss-of-function mutations.

Under the agreement, LG Chem will lead regulatory filings, clinical development, manufacturing, and commercialisation in its territories, while Frontier retains an option to participate in co-development for enhanced financial returns. Frontier will receive an upfront payment and is eligible for development, regulatory, commercial, and sales milestone payments, along with royalties on net product sales.

Preclinical data presented at the American Association for Cancer Research Annual Meeting 2025 demonstrated FMC-220's potency, selective target engagement, and durable anti-tumour activity at low doses across multiple tumour models. The therapy targets the TP53 Y220C mutation, present in approximately 1-3% of cancers, including lung, breast, ovarian, and colorectal tumours.

FMC-220 was developed using Frontier's platform integrating chemoproteomics and artificial intelligence and represents the company's second first-in-class programme following FMC-376, a dual ON/OFF KRASG12C inhibitor currently in clinical development.