Latest news with #ABVC
Associated Press
11-07-2025
- Business
- Associated Press
ABVC BioPharma Receives $150K Milestone From AiBtl, Bringing Total Licensing Revenue to $846K Across Strategic Partnerships
Licensing-first Strategy Continues to Deliver Non-dilutive Revenue; ABVC Positions Itself as a Leader in CNS-focused Botanical Therapeutics SILICON VALLEY, CA - July 10, 2025 ( NEWMEDIAWIRE ) - ABVC BioPharma, Inc. (NASDAQ: ABVC) ('Company'), a clinical-stage biopharmaceutical company developing therapeutic solutions in ophthalmology, CNS (central nervous systems), and oncology/hematology, today announced that it has received a $150,000 cash licensing payment from AiBtl BioPharma Inc., one of its key strategic partners, as part of a broader licensing agreement signed earlier this year. The payment marks a significant milestone in the continuing commercialization of ABVC's late-stage drug candidates ABV-1504 and ABV-1505, which are being developed for Major Depressive Disorder (MDD) and Attention Deficit Hyperactivity Disorder (ADHD) respectively. Both candidates have completed Phase II and Phase IIB clinical trials and hold active INDs with the U.S. Food and Drug Administration. 'This milestone payment reflects the accelerating momentum behind our global licensing strategy and validates the value of our late-stage clinical assets,' said Dr. Uttam Patil, ABVC Chief Executive Officer. 'Our partnership with AiBtl exemplifies how we are strategically collaborating with innovation-focused companies to bring our botanical therapies to market worldwide.' Cumulative Licensing Milestone To date, AiBtl BioPharma has paid a total of $350,000 in cash milestone licensing fees to ABVC. Including earlier payments from other strategic partners such as ForSeeCon and OncoX, ABVC has received a cumulative total of $846,000 in non-dilutive licensing income. These milestone payments reflect growing interest in ABVC's late-stage botanical drug portfolio and reinforce the Company's capital-efficient, partnership-driven business model. Strengthening a Global Platform for Botanical Innovation Over the past six months, ABVC has successfully executed licensing agreements with multiple partners across North America and Asia, including: AiBtl BioPharma Inc. - Licensed ABV-1504 and ABV-1505 for global development and commercialization, for which ABVC will receive equity, cash milestone payments, and royalties. ABVC and its subsidiary BioLite Inc. received 46M AiBtl shares, and are eligible for potential $7M cash payment, and royalties up to $200M after the product launches. ForSeeCon Eye Corporation - Secured a license for ophthalmic indications under ABVC's botanical IP platform. ABVC and its subsidiaries BioFirst Corporation have received 10M ForSeeCon shares, and are eligible for potential $7M cash payment, and royalties up to $120M after the product launches. OncoX BioPharma, Inc. - Entered into a deal to expand botanical innovation into the oncology space. ABVC and its subsidiaries BioLite Inc. and Rgene Corporation are received up to 10M OncoX shares, and are eligible for potential $5M cash payment, and royalties up to $50M after the product launches. These deals are aligned with ABVC's asset-light business model, focusing on developing innovative botanical drugs through Phase II/III, and licensing out clinical-stage products to commercial partners for global expansion. Outlook and Commitment to Shareholder Value This $150,000 payment is part of a larger milestone and royalty structure that is expected to contribute significantly to ABVC's 2025 revenue stream. The company previously announced a 234% increase in annual revenue and a 77% year-over-year improvement in earnings per share, reflecting its capital-efficient approach and licensing-driven growth. These improvements reflect ABVC's pivot toward a licensing-first strategy, which is designed to generate recurring milestone income and reduce the need for dilutive fundraising. 'Our licensing-first strategy is working, and today's payment is one of several anticipated milestone payments as partners progress clinical development activities under our licensing agreements,' added Dr. Patil. 'We remain committed to creating sustainable long-term value for our shareholders through focused innovation, smart partnerships, and disciplined execution.' Addressing a Global Need for CNS Therapies The growing demand for alternative and effective treatments for CNS disorders has become more urgent globally. According to The Daily Telegraph (July 7, 2025), Australia is currently facing a serious drug shortage, with nearly 300,000 patients expected to be affected, potentially driving some to seek medication through illegal channels. ABVC and AiBtl's progress in botanical drug development could offer a timely and legal therapeutic alternative to vulnerable patient populations in need. [1] [1] About AiBtl BioPharma Inc. AiBtl BioPharma Inc. is a Delaware-based biopharmaceutical company focused on the development of botanical-based therapeutic candidates for central nervous system (CNS) disorders, including major depressive disorder (MDD) and attention deficit hyperactivity disorder (ADHD). Leveraging a combination of traditional botanical knowledge and modern clinical research, AiBtl seeks to advance drug candidates derived from Polygala tenuifolia, a traditional medicinal herb. AiBtl operates with a strategic focus on Asia-Pacific markets and is exploring collaborative opportunities with global pharmaceutical partners to support late-stage development and commercialization. ABVC BioPharma currently holds a majority ownership stake in AiBtl. 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 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: [email protected] View the original release on
Associated Press
24-06-2025
- Business
- Associated Press
ABVC BioPharma Converts Strategic Note Into Equity in AiBtl BioPharma; Commits to Up to $20 Million in Total Investment
SILICON VALLEY, CA - June 24, 2025 ( NEWMEDIAWIRE ) - ABVC BioPharma, Inc. (NASDAQ: ABVC) ('Company'), a clinical-stage biopharmaceutical company developing therapeutic solutions in ophthalmology, CNS (central nervous systems), and oncology/hematology, announced today that it has converted its initial $100,000 convertible note into 10,000 shares of common stock of AiBtl BioPharma Inc. at a conversion price of $10 per share. The conversion price is supported by an independent third-party valuation report, which estimated the current fair value of AiBtl's equity. In addition, ABVC disclosed its intention to invest up to $20 million in AiBtl over time, further reinforcing its role as a lead strategic investor. ABVC expects that AiBtl will utilize the additional funds to fulfill its licensing obligations and collaborate with global pharma partners to accelerate Phase III development. ABVC will continue executing its capital-light strategy by investing in innovative partners through a combined licensing and equity model. AiBtl currently holds exclusive global development and commercialization rights to ABVC's two CNS drug candidates, ABV-1504 and ABV-1505, under a previously announced licensing agreement. The agreement includes equity, milestone payments and royalties, with each of ABVC and its subsidiary BioLite entitled to receive up to 23 million shares of AiBtl common stock (totaling 46 million shares), up to $7 million in cash milestone payments, and future sales-based royalties, if achieved. 'As both the licensing partner and anchor investor, ABVC is committed to AiBtl's success,' said Dr. Uttam Patil, ABVC Chief Executive Officer. 'This investment strengthens AiBtl's ability to advance its pipeline, while also positioning ABVC to benefit from future milestone and royalty revenues.' About AiBtl BioPharma Inc. AiBtl BioPharma Inc. is a Delaware-based biopharmaceutical company focused on the development of botanical-based therapeutic candidates for central nervous system (CNS) disorders, including major depressive disorder (MDD) and attention deficit hyperactivity disorder (ADHD). Leveraging a combination of traditional botanical knowledge and modern clinical research, AiBtl seeks to advance drug candidates derived from Polygala tenuifolia, a traditional medicinal herb. AiBtl operates with a strategic focus on Asia-Pacific markets and is exploring collaborative opportunities with global pharmaceutical partners to support late-stage development and commercialization. ABVC BioPharma currently holds a majority ownership stake in AiBtl. 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 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: [email protected] View the original release on
Associated Press
03-06-2025
- Business
- Associated Press
ABVC BioPharma Announces Board Approval of Share Dividend Showing Confidence in Subsidiary Growth and Long-Term Shareholder Value
Silicon Valley, CA - ( NewMediaWire ) - June 03, 2025 - – ABVC BioPharma, Inc. (NASDAQ: ABVC) ('Company'), a clinical-stage biopharmaceutical company developing therapeutic solutions in ophthalmology, CNS (central nervous systems), and oncology/hematology, announced today that its Board of Directors approved a plan to distribute, one share of stock of AiBtl BioPharma Inc. ('AIBTL'), a corporation organized and existing and under the laws of the State of Delaware, as a dividend reward to its shareholders for each share of ABVC common stock owned by the shareholder (the 'AIBTL Shares'). Based on the Company's current holdings, the Company expects to distribute approximately 15M AIBTL Shares. The distrubtion shall take place after the AIBTL Shares are included in an effective registration statement under the Securities Act of 1933, of which there is no guarantee. AIBTL is one of the Company's subsidiaries and an entity with which ABVC holds certain licensing agreements, as disclosed in ABVC's public filings with the Securities and Exchange Commission. This distribution will mark the Company's first dividend payment. The Company believes that this dividend can boost shareholder confidence and trust in the Company's capabilities. 'I am proud of ABVC's journey and that it is in a position to reward its shareholders with a dividend distribution. This distribution shows our confidence in AiBtl's long-term potential and our commitment to providing value to ABVC shareholders.,' said Dr. Uttam Patil, ABVC Chief Executive Officer. AiBtl is working on developing the Company's Asian Healthcare business; ABVC is its major shareholder, holding 57.8%. The partnership with AIBTL is expected to enhance ABVC's strategic objectives in international business development for its CNS programs of the MDD and ADHD markets and establish partnerships with international pharmaceutical companies. About AiBtl BioPharma Inc. AiBtl BioPharma Inc. is a Delaware-based biopharmaceutical company focused on the development of botanical-based therapeutic candidates for central nervous system (CNS) disorders, including major depressive disorder (MDD) and attention deficit hyperactivity disorder (ADHD). Leveraging a combination of traditional botanical knowledge and modern clinical research, AiBtl is advancing drug candidates derived from Polygala tenuifolia, a traditional medicinal herb. AiBtl operates with a strategic focus on Asia-Pacific markets and is exploring collaborative opportunities with global pharmaceutical partners to support late-stage development and commercialization. ABVC BioPharma currently holds a majority ownership stake in AiBtl. 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 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: [email protected]
Associated Press
14-05-2025
- Business
- Associated Press
ABVC BioPharma Regains Nasdaq Minimum Bid Price Compliance
SILICON VALLEY, CA - May 14, 2025 ( NEWMEDIAWIRE ) - ABVC BioPharma, Inc. (NASDAQ: ABVC), a clinical-stage biopharmaceutical company developing botanical-based therapies for central nervous system (CNS), ophthalmology, and oncology/hematology indications, today announced that it has received official notice from the Nasdaq Listing Qualifications Department confirming that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share. According to Nasdaq's notification dated May 13, 2025, ABVC's common stock successfully maintained a closing bid price at or above $1.00 for 10 consecutive trading days from April 29, 2025 to May 12, 2025, satisfying the exchange's compliance standard for the referenced rule. This development formally closes this deficiency matter. 'This is more than a compliance milestone - it is a clear validation of our turnaround strategy and unwavering commitment to shareholder value,' said Dr. Uttam Patil, ABVC Chief Executive Officer. Comparing fiscal year 2024 to 2023, ABVC has made significant strides: The reinstatement of Nasdaq compliance follows a period of focused restructuring, paving the way for future success. ABVC is currently in preliminary discussions with leading pharmaceutical and AI companies to co-develop its Phase III-ready candidates for Major Depressive Disorder (MDD) and ADHD, both multibillion-dollar global markets. 'We see this as a critical inflection point,' said Dr. Patil. 'ABVC is no longer just a clinical-stage biotech - we are building a platform for global commercialization, powered by science, supported by strategy, and our continued Nasdaq listing demonstrates our ability to meet high listing standards.' 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 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: [email protected] View the original release on
Associated Press
01-05-2025
- Business
- Associated Press
ABVC BioPharma Announces First Quarter 2025 Financial Results and Strategic Planning for AI-Driven Agricultural Project in Taiwan
SILICON VALLEY, CA - May 1, 2025 ( NEWMEDIAWIRE ) - ABVC BioPharma, Inc. (NASDAQ: ABVC), a clinical-stage biopharmaceutical company developing botanical-based therapies for central nervous system, oncology, and ophthalmology indications, today announced its financial results for the first quarter ended March 31, 2025, and shared updates on its strategic plan to explore the development of an AI-enabled agricultural facility in Taiwan. First Quarter 2025 Highlights In the first quarter of 2025, ABVC recognized a parcel of land in central Taiwan valued at $7,670,000 as a strategic asset. The Company is currently assessing the feasibility of developing this site into a state-of-the-art, AI-integrated agricultural facility designed to meet Good Agricultural Practices (GAP) standards. There can be no assurance that the project will be implemented as currently envisioned, or that any future development on the site will be successfully completed. If implemented, the project could leverage local AI capabilities to enable precision-controlled agriculture and contribute to a more sustainable and traceable botanical supply chain. This strategic initiative aligns with ABVC's long-term vision to enhance vertical integration, improve material consistency, and support its future botanical drug pipeline. 'We believe this potential AI-driven agricultural project reflects our forward-looking approach to sustainable pharmaceutical innovation,' said Dr. Uttam Patil, CEO of ABVC BioPharma. 'As we continue to advance our clinical pipeline, we are also taking steps to evaluate infrastructure that could support long-term scalability.' The Company emphasized that the land recognition follows applicable accounting standards and responds to prior disclosures related to asset valuation methodology in the 2024 Form 10-K. Selected Financial Data for Q1 2025 (unaudited): ABVC remains committed to executing its clinical development programs and evaluating strategic infrastructure opportunities to support long-term commercialization and partnership growth. 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 global clinical trials through Phase III. For more information about ABVC and its subsidiaries, stay updated on the latest updates or visit Visit for more information on BioLite Japan. ABVC urges its shareholders to sign up on the Company's website for the latest news alerts; visit Forward-Looking Statements This press release contains 'forward-looking statements,' including statements regarding the Company's plans to develop an agricultural facility in Taiwan 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 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: [email protected]
