ABVC Biopharma Enters Material Definitive Agreement
Ticker: ABVC · Form: 8-K · Filed: Apr 17, 2024 · CIK: 1173313
| Field | Detail |
|---|---|
| Company | Abvc Biopharma, Inc. (ABVC) |
| Form Type | 8-K |
| Filed Date | Apr 17, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $6,250,000, $5, $625,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, corporate-update
TL;DR
ABVC Bio just signed a big deal, filing shows.
AI Summary
On April 17, 2024, ABVC Biopharma, Inc. entered into a material definitive agreement. The company, formerly known as American BriVision (Holding) Corp, is incorporated in Nevada and headquartered in Fremont, California.
Why It Matters
This filing indicates a significant new contract or partnership for ABVC Biopharma, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and the specifics of this agreement are not detailed in this initial filing.
Key Players & Entities
- ABVC BIOPHARMA, INC. (company) — Registrant
- American BriVision (Holding) Corp (company) — Former company name
- April 17, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- Fremont, CA (location) — Business address
FAQ
What type of material definitive agreement did ABVC Biopharma, Inc. enter into?
The filing states that ABVC Biopharma, Inc. entered into a material definitive agreement, but the specific nature of the agreement is not detailed in this Form 8-K.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on April 17, 2024.
What is the primary business of ABVC Biopharma, Inc. according to the filing?
ABVC Biopharma, Inc. is classified under the Standard Industrial Classification code 2834, which corresponds to Pharmaceutical Preparations.
What was ABVC Biopharma, Inc. formerly known as?
ABVC Biopharma, Inc. was formerly known as American BriVision (Holding) Corp.
Where is ABVC Biopharma, Inc. headquartered?
ABVC Biopharma, Inc. is headquartered at 44370 Old Warm Springs Blvd., Fremont, CA 94538.
Filing Stats: 753 words · 3 min read · ~3 pages · Grade level 12.9 · Accepted 2024-04-17 08:30:10
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share ABVC The Nasdaq Stock Mar
- $6,250,000 — ideration thereof, Oncox shall pay ABVC $6,250,000 (or 1,250,000 Oncox shares valued at $5
- $5 — 00 (or 1,250,000 Oncox shares valued at $5 per share 1 ) 30 days after entering in
- $625,000 — r entering into the Oncox Agreement and $625,000 30 days following the completion of Onc
Filing Documents
- ea0203971-8k_abvcbio.htm (8-K) — 28KB
- ea020397101ex10-1_abvcbio.htm (EX-10.1) — 37KB
- ea020397101ex10-2_abvcbio.htm (EX-10.2) — 37KB
- ea0203971ex99-1_abvcbio.htm (EX-99.1) — 20KB
- ex99-1_001.jpg (GRAPHIC) — 2KB
- 0001213900-24-033598.txt ( ) — 315KB
- abvc-20240417.xsd (EX-101.SCH) — 3KB
- abvc-20240417_lab.xml (EX-101.LAB) — 33KB
- abvc-20240417_pre.xml (EX-101.PRE) — 22KB
- ea0203971-8k_abvcbio_htm.xml (XML) — 3KB
01 Entry into Material Definitive Agreements
Item 1.01 Entry into Material Definitive Agreements 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 "). In consideration thereof, Oncox shall pay ABVC $6,250,000 (or 1,250,000 Oncox shares valued at $5 per share 1 ) 30 days after entering into the Oncox Agreement and $625,000 30 days following the completion of Oncox's next round of fundraising, of which there is no guarantee; ABC is also entitled to 5% royalties based on the Net Sales, as defined in the Oncox Agreement, from the first commercial sale of the Licensed Product in North America. Oncox entered into the same agreement with ABVC's affiliate, Rgene Corporation. The foregoing description of the agreements is not complete and is qualified in its entirety by reference to the full text of the agreements, copies of which are attached as Exhibit 10.1 and Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference. Neither this Current Report on Form 8-K, nor any exhibit attached hereto, is an offer to sell or the solicitation of an offer to buy the Securities described herein. Such disclosure does not constitute an offer to sell, or the solicitation of an offer to buy nor shall there be any sales of the Company's securities in any state in which such an offer, solicitation or sale would be unlawful. The securities mentioned herein have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requiremen
01 Financial Statement and Exhibits
Item 9.01 Financial Statement and Exhibits (d) Exhibits Exhibit No. Description 10.1 Definitive License Agreement between the Company and OncoX BioPharma, Inc. 10.2 Definitive License Agreement between Rgene and OncoX BioPharma, Inc. 99.1 Press Release. 104 Cover Page Interactive Data File, formatted in Inline XBRL 1 Price was determined through private negotiations between the parties; no third party valuation was completed. 1 SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ABVC BioPharma, Inc. April 17, 2024 By: /s/ Uttam Patil Uttam Patil Chief Executive Officer 2