ABVC BioPharma executes global licensing agreement for treatment of NSCLC

ABVC BioPharma announced 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. 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. Under the terms of the agreement, ABVC grants OncoX exclusive rights for one of ABVC’s four products in its Oncology pipeline to develop, manufacture, and commercialize BLEX 404, a promising therapeutic agent for the treatment of Non-Small Cell Lung Cancer, NSCLC. We believe that this collaboration leverages the respective strengths of both companies to accelerate the availability of this vital treatment to patients worldwide. “We are thrilled to finalize this licensing agreement with OncoX, an emerging frontrunner in the healthcare industry,” said Dr. Uttam Patil, ABVC’s Chief Executive Officer. “This collaboration represents a significant step forward in our mission to combat NSCLC and underscores our commitment to delivering innovative therapies to needy patients. “He added that ABVC brings its cutting-edge research and development capabilities. With a deep understanding of NSCLC and a commitment to improving patient outcomes, ABVC will spearhead the development of BLEX 404, which has demonstrated promising results in clinical studies.”