ABVC and BioLite license CNS drugs to AiBtl for 23M shares plus milestones; gains controlling interest

ABVC BIOPHARMA, INC.

Licensed products (MDD and ADHD) valued at $667M by third-party evaluation.
ABVC and BioLite each receive 23M shares of AIBL (targeted $10/share at IPO) within 30 days.
Milestone payments of $3.5M and royalties of 5% of net sales, up to $100M.
Share issuance gives ABVC controlling interest in AiBtl BioPharma Inc.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ABVC BIOPHARMA, INC. entered into a license with AiBtl BioPharma Inc. ("AIBL") valued at 23 million shares of AIBL stock ... $3,500,000 and royalties equaling 5% of net sales, up to $100 mi (effective 2023-11-12).

Action: entry
Agreement: license
Counterparty: AiBtl BioPharma Inc. ("AIBL")
Value: 23 million shares of AIBL stock ... $3,500,000 and royalties equaling 5% of net sales, up to $100 mi
Effective: 2023-11-12

Exact text from the filing

In November 12, 2023, the Company and one of its subsidiaries, BioLite, Inc. ("BioLite") each entered into a multi-year, global licensing agreement with AiBtl BioPharma Inc. (" AIBL ") for the Company and BioLite’s CNS drugs

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ABVC BIOPHARMA, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-087740

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