ABVC BioPharma Engaged by Orion BioTech to Identify Global Licensing Partners
May 25 2022 - 8:30AM
via NewMediaWire – ABVC Biopharma, Inc. (NASDAQ: ABVC), a clinical
stage biopharmaceutical company developing therapeutic solutions in
oncology/hematology, CNS, and ophthalmology, today announced that
it has been engaged by Orion BioTech, Inc., a medical device
company based in Taipei, Taiwan, to identify candidates interested
in out-licensing Orion developmental products, such as Orion’s
“Lamina Cover” for spine surgery, its “Wireless Intracranial
Pressure (ICP) Monitor” for brain surgery and its “Auto-stop Drill”
for orthopedic surgery. The Lamina Cover recently received U.S.
F.D.A. medical device 510(k) approval.
Under the terms of this engagement, ABVC will use its business
relationships around the world to find licensing partners for Orion
products and, in return, will receive a monthly retainer fee and
15% of the licensing income and royalties received by Orion for
each licensed product. The engagement remains in effect until a
written notice of termination is initiated by either party.
“We are pleased to utilize our global business development
capabilities to identify potential product licensing partners for
Orion BioTech,” said Dr. Howard Doong, Chief Executive Officer of
ABVC BioPharma. “For us, this engagement demonstrates our desire to
actively seek revenue sources that can help support the development
of our oncology and CNS drugs. Other examples of this strategy
include our maitake mushroom supplement distribution agreement and
our recently announced services agreement with NeuCen. Both of
these agreements, along with the Orion engagement, demonstrate our
ability to provide valuable services to the emerging biotech
industry in Taiwan.”
About ABVC BioPharma
ABVC BioPharma is a clinical-stage biopharmaceutical company
with an active pipeline of six drugs and one medical device
(ABV-1701/Vitargus®) under development. For its drug products, it
is focused on utilizing its licensed technology to conduct
proof-of-concept trials through Phase II of the clinical
development process at world-famous research institutions (such as
Stanford University, University of California at San Francisco, and
Cedars-Sinai Medical Center). For Vitargus®, the company intends to
conduct the clinical trials through Phase III at various locations
throughout the globe.
Forward-Looking Statements
This press release contains “forward-looking statements.” Such
statements may be preceded by the words “intends,” “may,” “will,”
“plans,” “expects,” “anticipates,” “projects,” “predicts,”
“estimates,” “aims,” “believes,” “hopes,” “potential,” or similar
words. Forward-looking statements are not guarantees of future
performance, are based on certain assumptions, and are subject to
various known and unknown risks and uncertainties, many of which
are beyond the Company’s control, and cannot be predicted or
quantified, and, consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements.
Such risks and uncertainties include, without limitation, risks and
uncertainties associated with (i) our inability to manufacture our
product candidates on a commercial scale on our own, or in
collaboration with third parties; (ii) difficulties in obtaining
financing on commercially reasonable terms; (iii) changes in the
size and nature of our competition; (iv) loss of one or more key
executives or scientists; and (v) difficulties in securing
regulatory approval to proceed to the next level of the clinical
trials or to market our product candidates. More detailed
information about the Company and the risk factors that may affect
the realization of forward-looking statements is set forth in the
Company’s filings with the Securities and Exchange Commission
(SEC), including the Company’s Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. Investors are urged to read these
documents free of charge on the SEC’s website at
http://www.sec.gov. The Company assumes no obligation to publicly
update or revise its forward-looking statements as a result of new
information, future events or otherwise.
Contact:ICR, LLCLucy PengPhone: +1 646-677-1872Email:
Lucy.Peng@icrinc.com
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