ABVC BioPharma Records $100,000 Licensing Milestone From ForSeeCon, Strengthening Eye Health Program
This payment adds to ABVC's cumulative licensing revenue, which now totals $946,000 across its strategic partnerships with AiBtl, OncoX, and ForSeeCon. Combining the third-party valuation of the products at issue, with the potential equity, royalties, and performance-based payouts available under the applicable agreements, the overall value of this arrangement could reach up to $1.0 billion.
"Our collaboration with ForSeeCon reflects our commitment to addressing unmet needs in ophthalmology through both innovation and advanced biologic solutions like Vitargus(R)," said Dr. Uttam Patil, ABVC's Chief Executive Officer. "This milestone payment signals continued commercial interest in our platform and provides important non-dilutive capital to support the next phases of development. At the same time, we're seeing growing enthusiasm around Vitargus(R) from international partners, particularly in Europe and Japan, which we believe could pave the way for future strategic collaborations in those regions."
"We are proud to continue our collaboration with ABVC to advance Vitargus(R) into pivotal trials," said Mr. Jerry Chang, CEO of ForSeeCon Eye Corporation. "The global response to Vitargus has been extremely encouraging, particularly from strategic partners in Europe and Japan. We believe this innovative solution has the potential to redefine retinal surgery outcomes and are excited about the international momentum building around it."
Targeting a $110B Global Eye Care Market:(1)
The ForSeeCon agreement covers Vitargus(R), a next-generation vitreous substitute developed from ABVC's proprietary IP portfolio, and targets a rapidly expanding segment of the global eye care market. Together, ABVC and ForSeeCon plan to initiate pivotal clinical trials in key international markets in 2025.
Looking Ahead:
This latest payment supports ABVC's strategic roadmap and reflects momentum following:- Multiple late-stage CNS licensing deals (AiBtl BioPharma, $350K to date)- Expansion into oncology with OncoX ($200K milestone to date)- Strong revenue and EPS growth in 2024
With licensing income expected to continue into the second half of 2025, ABVC reaffirms its focus on capital-efficient innovation and unlocking value through global co-development partnerships.
Management believes the Company's product pipeline has excellent market potential. According to a Grand View Research report, the global eye care market is projected to reach USD110.3billion by 2030, growing at a compound annual growth rate (CAGR) of 6.9% from2024to2030.(2)
(1) https://www.grandviewresearch.com/horizon/outlook/eye-care-market-size/global?utm_source=chatgpt.com
(2) https://www.grandviewresearch.com/horizon/outlook/eye-care-market-size/global?utm_source=chatgpt.com
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(R)) 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(R), the Company intends to conduct pivotal clinical trials (Phase III) through global partnerships.
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 PatilEmail: uttam@ambrivis.com
View the original release on www.newmediawire.com
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