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ABVC BioPharma, Inc. ("ABVC" or the "Company") (NASDAQ: ABVC) announced today that ForSeeCon Eye Corporation ("ForSeeCon") has made an additional US$250,000 payment under the existing ophthalmic medical device licensing agreement (the "Licensing Agreement"). To date, ABVC has received US$816,000 in total payments from ForSeeCon in connection with the Licensing Agreement.
Licensing Deal Summary
| Item | Description | Amount |
| Upfront Payment | 5,000,000 ForSeeCon shares at US$6 per share[1] | US$30,000,000 |
| Milestone Payment | Cash payment due 30 days upon completion of next round fundraising | US$3,500,000 |
| Total Licensing Fee | Upfront Payment + Milestone Payment | US$33,500,000 |
| Royalties | 5% of Net Sales, payable quarterly, capped at US$60,000,000 (the "Royalty Cap") | US$60,000,000 |
| Maximum Potential Value | Total Licensing Fee + Royalty Cap | US$93,500,000 |
Product Comparison: Vitargus® vs. Traditional Silicone Oil
The Company also provided a comparison between its investigational vitreous substitute Vitargus® and Silicone Oil, a widely used product. This comparison is informational only and not a claim of clinical superiority.[2]
| Category | Silicone Oil | ABVC – Vitargus® |
| Material | Non-degradable silicone oil | Bioabsorbable hydrogel |
| Removal Needed | Yes, requires second surgery | No, gradually absorbed |
| Post-operative Positioning | Face-down positioning often required | Normal mobility to be expected |
| Long-term Issues | Possible emulsification and elevated intraocular pressure | Early data shows biocompatibility |
| Market Status | Fully commercialized product | Investigational device currently in clinical development |
Dr. Uttam Patil, ABVC's Chief Executive Officer, stated that the additional US$250,000 received from ForSeeCon brings their cumulative payments to US$816,000, which provides meaningful support for advancing ABVC's ophthalmic programs. Mr. Patil noted that the agreement's total licensing value of up to US$33.5 million reflects the partner's long-term commitment to the Vitargus® technology. Mr. Patil added that independent industry reports indicate continued expansion in the vitreous substitute and ophthalmic device sectors, with the global vitreous substitute market projected to grow from approximately US$2.5 billion in 2024 to US$3.61 billion by 2032, representing a 6.3% CAGR, and the broader ophthalmic medical device market estimated to increase from US$63 billion to more than US$95 billion in that same time period[3]. Mr. Patil further stated that part of the received payments will support the establishment of ABVC's Ophthalmic Research and Quality Verification Laboratory near the Hsinchu Science Park in Taiwan, which is intended to assist with future clinical evaluations, AI-enabled image analysis, and product quality verification initiatives.
About ABVC BioPharma & Its Industry
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, the Company utilizes in-licensed technology from its network of world-renowned research institutions to conduct proof-of-concept trials through Phase II of clinical development. The Company's network of research institutions includes Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus®, the Company intends to conduct pivotal clinical trials (Phase III) through global partnerships.
[1] Internal valuation; ForSeeCon is a private company.
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. None of the outcomes expressed herein are guaranteed. 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.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company's securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company's securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
Contact:
Uttam Patil
Email: uttam@ambrivis.com
View the original release on www.newmediawire.com
