FREMONT, CA, April 18, 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's subsidiary AiBtl BioPharma Inc. acquired TT Life Company, an established player in the precision medicine industry. The acquisition includes Malaysian Import Trading Company, Direct Sales Company, and Taiwanese Direct Sales Company, which are estimated to be approximately equivalent to $8.33M. AiBtl purchased 100% shares of TT Life by swapping its 1.66M shares at $5 per share. This strategic move positions AiBtl to expand its portfolio further and accelerate innovation in the rapidly growing precision medicine market while consolidating the financials, including the revenue, profit, and cash flow, with TT Life.

04/18/2024

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.

04/17/2024