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I'm a little confused by your statement since all gasoline-burning ICEs will fire when there is fuel, spark and compression present at the same time. Can you answer the following questions so I have an idea of how to best help you?:
I'm sorry, but based on the data you provide there's no logical explanation for why that engine won't fire other than there is no fuel and the 120 psi reading you're getting is just air being compressed by the fuel pump. My suggestion at this time would be to spray starting fluid in the throttle and see if it fires. If it doesn't, then I would recheck the vitals again.