ABVC BioPharma, BioLite receive $460M milestone payment from AiBtl

ABVC BioPharma and its subsidiary BioLite announced the Company and its subsidiary received an aggregate of 46 million shares from AiBtl BioPharma, as its first milestone payment under a global licensing agreement. The agreement between the Company and AiBtl placed a value of $460 on such payment. AiBtl is a private company, and the share value is based on the terms of the agreement between the parties and the valuation report done by an independent third party. The Company entered into a definitive global licensing agreement with AiBtl on November 12, 2023, for the Company’s CNS drugs with the indications of MDD and ADHD. According to the terms of the agreement, AiBtl delivered 46M shares to the Company as the first milestone payment. The Company expects AiBtl to achieve the further milestones under the agreement, upon which the Company may receive the remaining licensing fees of up to $7M cash and 5% royalties of net sales, up to $200M.