Forward Pharma

About Forward Pharma

Forward Pharma A/S is a Danish biopharmaceutical entity established in 2005. The company was co-founded by Florian Schönharting, who has a significant background in co-founding several other biopharmaceutical companies and over two decades of experience in public and private equity funds within the industry. Initially, the company's focus was on the development of a proprietary formulation of dimethyl fumarate (DMF), known as FP187, for treating inflammatory and neurological diseases like multiple sclerosis (MS) and psoriasis.

The company's primary business revolved around its intellectual property for this novel DMF formulation. A pivotal moment in Forward Pharma's history occurred in 2017 when it entered into a major settlement and license agreement with Biogen. This agreement involved Biogen paying Forward Pharma an upfront, non-refundable sum of $1.25 billion for an irrevocable license to all of its intellectual property. The dispute centered on the patents for the active ingredient in Biogen's blockbuster MS drug, Tecfidera, which is also dimethyl fumarate. Forward Pharma had asserted that its patents for a 480mg slow-release oral formulation of DMF predated Biogen's IP. The 2017 agreement was structured to provide Biogen with a license to Forward's IP, while also outlining potential future royalties for Forward, contingent on the outcomes of ongoing patent litigation in the U.S. and Europe.

Following this significant licensing deal, Forward Pharma effectively ceased its own development operations. The company's business model shifted from active drug development to that of a holding and royalty vehicle, with its primary potential for future revenue dependent on the results of the remaining patent disputes. Subsequent legal rulings by the U.S. Patent Trial and Appeal Board (PTAB) and the US Court of Appeals affirmed Biogen's patents, which relieved Biogen from paying future royalties to Forward in the United States. As of recent reports, Forward Pharma does not have significant active operations and has been planning for a solvent liquidation.