ABVC BioPharma Enters Into Global LIcensing Agreement With AiBtl

(RTTNews) - ABVC BioPharma, Inc. (ABVC) on Thursday announced a global licensing definitive agreement with AiBtl BioPharma Inc. for ABVC's Central Nervous System (CNS) drugs for treating Major Depressive Disorder (MDD) and attention deficit hyperactivity disorder (ADHD).

The definitive agreement will enable ABVC and its subsidiary BioLite, Inc. to earn licensing revenues in the form of AiBtl stock of 46 million shares worth $460 million and milestone cash payments of $7 million. After the product's launch, they will also receive royalties of 5% of net sales, up to $200 million.

Dr. Uttam Patil, ABVC's Chief Executive Officer, believes that the deal will allow ABVC to secure partnerships with international pharmaceutical companies, and enable it to focus on bringing its other proprietary patented products, such as ophthalmology medical devices, Vitargus, and oncology drugs, to the global market thanks to AiBtl's strong business development capabilities.