ABVC licenses BLEX 404 to OncoX for pancreatic cancer; up to $13.75M in fees plus royalties

ABVC BIOPHARMA, INC.

ABVC grants OncoX exclusive rights to develop/commercialize BLEX 404 for pancreatic cancer in 50% of worldwide markets for 20 years.
OncoX to pay $6.25M (or 1.25M shares at $5) within 30 days; additional $0.625M milestone after next fundraising (no guarantee).
ABVC entitled to 5% royalties on net sales, up to $12.5M; also may receive cash payments of at least $100K toward licensing fees.
Press release states aggregate expected income of $13.75M and royalties up to $12.5M, but commercialization remains uncertain.
Four FDA INDs approved for ABVC's oncology pipeline; ABV-1703 (BLEX 404) for pancreatic cancer.

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 Oncox Agreement with OncoX BioPharma, Inc. valued at $6,250,000 (effective 2024-05-08).

Action: entry
Agreement: license
Counterparty: OncoX BioPharma, Inc.
Value: $6,250,000
Effective: 2024-05-08

Exact text from the filing

ompany entered into a definitive agreement with OncoX BioPharma, Inc., a private company registered in the British Virgin Islands (“ Oncox ”),

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290 material agreements filed in the last 30 days. Browse all material agreements →

ABVC BIOPHARMA, INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-041053

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