ABVC BioPharma enters into global licensing deal with ForSeeCon Eye

ABVC BioPharma announced that each of the Company and its subsidiary BioFirst Corporation entered into a global licensing agreement with ForSeeCon Eye Corporation for the Company’s Ophthalmology pipeline, which includes the medical device Vitargus. This license will cover the Licensed Products’ clinical trial, registration, manufacturing, supply, and distribution rights. “We are thrilled to announce a new licensing deal that we believe will make our product available to more patients undergoing the tedious Vitrectomy procedure. This partnership underscores our commitment to providing patients with a better quality of life during and after the procedure,” said Dr. Uttam Patil, ABVC‘s Chief Executive Officer. He added that through this exciting collaboration, ABVC has secured the distribution rights to a wide range of eye products from ForSeeCon, which he believes will provide a new avenue for revenue generation with access to an even broader audience. With this new licensing agreement in place, ABVC will continue to serve as the R&D partner of ForSeeCon to discover new pipelines for ophthalmic products. From better vitreous substitutes to various eyecare products, our platform remains dedicated to showcasing the best eyecare we can offer. ABVC will receive the first licensing payment of US$30,000,000 within 30 days after executing the agreement. ABVC is entitled to another milestone payment of $3,500,000 in cash after the first useful fundraise and royalties of 5% of net sales, up to $60,000,000, after the launch of the Licensed Product. BioFirst is entitled to the same licensing fees and royalties as ABVC.