Abvc biopharma executes a global licensing definitive agreement for the treatment of nsclc, expecting aggregate income of $13.75m and royalties of up to $12.50m

Fremont, ca, april 17, 2024 (globe newswire) -- via newmediawire -- abvc biopharma, inc. (nasdaq: abvc) ("company"), a clinical-stage biopharmaceutical company developing therapeutic solutions in ophthalmology, cns (central nervous systems), and oncology/hematology, announced today that the company, together with its affiliate rgene corporation entered into a comprehensive licensing agreement with oncox, a private company registered in the british virgin islands that specializes in dietary supplements for oncology. we are hopeful that this agreement will facilitate the advancement of treatments for non-small cell lung cancer (nsclc) since it covers the license for the clinical trial, registration, manufacturing, supply, and distribution rights of abvc's single-herb botanical drug extract from the dry fruit body of maitake mushroom (grifola frondosa) for treatment of non-small cell lung cancer. abvc and its affiliate are set to receive an aggregate license fee of $12,500,000 in the form of cash or shares of oncox securities within 30 days of executing the agreement, with an additional milestone payment of $1,250,000 in cash after oncox's next round of fundraising, of which there can be no guarantee; abvc and its affiliate are also entitled to royalties of 5% of net sales, up to $12,500,000, after the launch of the licensed product.
ABVC Ratings Summary
ABVC Quant Ranking