FREMONT, Calif., Oct. 22, 2024 (GLOBE NEWSWIRE) -- ABVC BioPharma, Inc. (NASDAQ: ABVC), a clinical-stage biopharmaceutical company focused on innovative treatments in ophthalmology, CNS (central nervous system), and oncology/hematology, today announced the receipt of an additional $50,000 in licensing fees from AiBtl BioPharma Inc. With this payment, ABVC has received a total of $346,000 in licensing fees from its strategic partners, supporting our partner's belief in our mission. ABVC has received 23M AiBtl shares as part of the first milestone of the licensing fees and will obtain royalties up to $100M after the product launches.
The payment, tied to ABVC's psychiatric disorder pipeline, which includes treatments for Major Depressive Disorder (MDD) and Attention Deficit Hyperactivity Disorder (ADHD), is part of a broader agreement with AiBtl BioPharma. The MDD and ADHD pipeline, valued at $667M by third-party evaluators, continues to gain momentum as both companies advance their collaborative efforts towards discussion with big pharma for out-licensing and initiating the plan for the GAP-certified temperature-controlled farm.
"We are thrilled to see this consistent financial backing from our partners, reflecting confidence in the potential of our therapeutic programs," said Uttam Patil, Ph.D., Chief Executive Officer of ABVC. "The additional $50,000 from AiBtl reinforces the trust in ABVC’s vision of developing breakthrough treatments."
"This milestone payment marks the continuation of a long-term strategic collaboration, reinforcing our commitment to advancing innovative CNS treatment solutions. These payments help to validate the progress of our therapeutic pipeline and reflect our confidence in our ability to deliver value for our investors. We believe that our ongoing efforts in this space will generate returns and further strengthen our position in the biopharmaceutical market," said Russman Jaimes, Chief Executive Officer of AiBtl.
Driving Growth in Expanding Markets
ABVC BioPharma is strategically positioned in growing markets. The global MDD market is projected to grow from $11.51 billion in 2022 to $14.96 billion by 2032, with a steady CAGR of 2.8%.[1] The global ADHD treatment market is also growing, expected to increase from $15.23 billion in 2022 at a CAGR of 7.3% through 2032.[2] Additionally, the global botanical drug market, valued at $163 million in 2021, is forecasted to experience an impressive CAGR of 39% through 2030, reaching $3.2 billion.[3]
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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 global clinical trials through Phase III.
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:
Dr. Uttam Patil
Email: uttam@ambrivis.com
[1] https://www.futuremarketinsights.com/reports/major-depressive-disorder-treatment-market#:~:text=The%20major%20depressive%20disorder%20(MDD,US%24%2011.51%20billion%20in%202022
[2] https://www.polarismarketresearch.com/industry-analysis/attention-deficit-hyperactivity-disorder-market
[3] https://straitsresearch.com/report/botanical-drugs-market
