Combination Therapy Holds Promise for Pancreatic Cancer Treatment: A Milestone Collaboration Between ABVC and OncoX, ABVC Expecting Aggregate Income of $13.75M and Royalties of up to $12.50M

​​FREMONT, CA – (NewMediaWire) – May 09, 2024 – 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 in its fight against pancreatic cancer, the Company, together with its affiliate Rgene Corporation, entered into a definitive agreement with OncoX BioPharma, Inc., a private company registered in the British Virgin Islands, to collaborate on combination therapy it believes will help treat Pancreatic Cancer and improve patient outcomes significantly. ABVC and its affiliate are set to receive an aggregate license fee of $12,500,000 in the form of cash or shares of OncoX securities within 30 days of executing the agreement, with an additional milestone payment of $1,250,000 in cash after OncoX’s next round of fundraising, of which there can be no guarantee. ABVC and its affiliate are also entitled to receive payments in cash of at least $100,000 towards the licensing fees and deductible from the second milestone payment, as well as royalties of 5% of net sales, up to $12,500,000, after the launch of the licensed product, which remains uncertain.The United States Food & Drug Administration (US FDA) has approved four INDs: ABV-1501 (IND 129575) for Triple Negative Breast Cancer (TNBC), ABV-1519 (IND 161602) for Non-Small Cell Lung Cancer (NSCLC), ABV-1702 (IND 131300) for Myelodysplastic Syndrome (MDS), and ABV-1703 (IND 136309) for Pancreatic Cancer Therapy. The Investigational New Drug (IND) application for ABV-1703 proposed the clinical investigation of BLEX 404 as a Combination Therapy Drug with Chemotherapy. The active ingredient of BLEX 404 is the β-glucan extracted from Grifola frondosa (maitake mushrooms), an edible fungus with high medical and commercial values in Asia; it contains various bioactive constituents such as polysaccharides, pyrrole alkaloids, ergosterol, etc., and has been widely served as functional foods for a long time in daily life.[1]Pancreatic cancer is one of the most aggressive forms of cancer, with limited treatment options and a low survival rate.[2] However, we hope the collaboration between ABVC and OncoX will bring new hope to patients and healthcare professionals worldwide. The proposed combination therapy combines the strengths of both companies, leveraging ABVC’s combination therapy knowledge with OncoX’s CEO’s commercialization experience. Combining these two modalities aims to enhance treatment efficacy while minimizing adverse effects, ultimately improving patient quality of life. Pancreatic cancer is difficult to detect and diagnose as there aren’t any noticeable signs or symptoms in the early stages of pancreatic cancer.[3] As reported in the literature, different patient selection, treatment dosing, and study designs have been used in clinical studies, resulting in distinctions in efficacy and AEs, which still require adjustment and optimization. There are vital points to be addressed for new combination strategies, such as fewer development costs, shorter development timelines, and lower safety risks.[4]”We are excited to announce this collaboration with OncoX, which represents a significant step forward in our commitment to developing transformative treatments for pancreatic cancer,” said Dr. Uttam Patil, ABVC’s Chief Executive Officer. “By combining our strengths, we can make meaningful progress in addressing this devastating disease. The collaboration will draw on ABVC’s portfolio of combination therapies pipeline, which has shown promise in preclinical and early clinical studies.””This partnership exemplifies our dedication to advancing the field of oncology and bringing hope to patients facing pancreatic cancer,” said Wen-Pin Yen, CEO of OncoX. “Together with ABVC, we are committed to pushing the boundaries of innovation to improve outcomes for patients in need. The two companies aim to deliver a novel treatment option for pancreatic cancer patients by combining their resources, expertise, and innovative … 

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