ABVC signs exclusive license deal with OncoX for NSCLC drug; up to $13.75M in fees + up to $12.5M royalties

ABVC BIOPHARMA, INC.

License for ABVC's single-herb botanical extract from Maitake Mushroom (BLEX 404) for NSCLC in North America for 20 years.
Aggregate license fee of $12.5M (cash or OncoX shares) due within 30 days of signing; additional $1.25M milestone after OncoX's next fundraising (no guarantee).
ABVC and affiliate Rgene also entitled to 5% royalties on net sales, capped at $12.5M, post-commercial launch.
FDA has approved IND for ABV-1519 (BLEX 404) as combination therapy with chemotherapy for NSCLC.
OncoX is a private BVI company specializing in oncology dietary supplements; deal leverages ABVC's clinical-stage pipeline.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ABVC BIOPHARMA, INC. entered into Oncox Agreement with OncoX BioPharma, Inc. valued at $6,250,000 (or 1,250,000 Oncox shares valued at $5 per share) (effective 2024-04-16).

Action: entry
Agreement: license
Counterparty: OncoX BioPharma, Inc.
Value: $6,250,000 (or 1,250,000 Oncox shares valued at $5 per share)
Effective: 2024-04-16

Exact text from the filing

On April 16, 2024, the Company entered into a definitive agreement with OncoX BioPharma, Inc., a private company registered in the British Virgin Islands (" Oncox "), pursuant to which the Company will grant Oncox an exclusive right to develop and commercialize ABVC's single-herb botanical drug extract from the dry fruit body of Maitake Mushroom (Grifola Frondosa) for treatment of Non-Small Cell Lung Cancer (the “ Licensed Products ”), within North America for 20 years (the “ Oncox Agreement ”).

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Source: SEC EDGAR

accession 0001213900-24-033598

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