Promising Combination Therapy for Triple Negative Breast Cancer Treatment: A Milestone Collaboration Between ABVC and OncoX, Potential Income of $13.75M and Royalties of up to $12.50M

​​  FREMONT, CA – (NewMediaWire) – May 15, 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 breast cancer, the Company, together with its subsidiary BioLite, Inc., 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 Triple Negative Breast Cancer and improve patient outcomes. The agreement establishes 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. OncoX may remit partial cash payments of at least $ 100,000 to the licensing fees, which would be deductible from the second milestone payment, and royalties of 5% of net sales, up to $12,500,000, after the launch of the licensed product, which remains uncertain. There is no guarantee that ABVC or its subsidiary will receive any of the fees listed.   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 a functional food for a long time in daily life.[1] TNBC is a subtype of breast cancer that lacks estrogen, progesterone, and HER2 receptors. Unmet demands in TNBC typically refer to areas where current treatments or approaches fall short in addressing the needs of patients.[2] While some TNBC patients benefit from immunotherapy, many do not; it’s essential to understand better which patients are most likely to respond to immunotherapy and develop strategies to enhance its efficacy.[3] Maitake mushrooms are rich in bioactive polysaccharides, especially D-fraction, the key ingredient of BLEX 404, the combination drug proposed in the contract. These protein polysaccharides have well-documented immune-protecting and antitumor properties.[4] “This partnership represents a concerted effort to address the urgent need for more effective treatments for TNBC, a particularly aggressive form of breast cancer that lacks targeted treatment options. TNBC accounts for a substantial proportion of breast cancer cases worldwide, posing significant challenges due to its resistance to conventional hormonal therapies and targeted treatments[5],” said Dr. Uttam Patil, ABVC’s Chief Executive Officer. He added, “In response to this critical unmet medical need, ABVC and OncoX have joined forces to explore a novel therapeutic approach that holds promise for improving outcomes and quality of life for TNBC patients. The proposed combination therapy draws upon companies’ complementary expertise and innovative research. By leveraging their drug development and oncology strengths, both companies aim to create a synergistic treatment regimen targeting multiple pathways involved in TNBC progression.” “We are excited to embark on this collaborative journey with ABVC to advance the field of oncology and bring hope to patients battling TNBC,” said Wen-Pin Yen, CEO of OncoX. “This partnership underscores our shared commitment to harnessing the power of combination therapies to address the complexities of TNBC and improve patient outcomes. The agreement … 

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