ABVC Biopharma Enters Material Definitive Agreement
Ticker: ABVC · Form: 8-K · Filed: May 9, 2024 · CIK: 1173313
| Field | Detail |
|---|---|
| Company | Abvc Biopharma, Inc. (ABVC) |
| Form Type | 8-K |
| Filed Date | May 9, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $6,250,000, $5, $625,000, $100,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, corporate-update
TL;DR
ABVC Bio just signed a big deal, filing shows.
AI Summary
On May 9, 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 and opportunities, the specifics of which are not detailed in this initial filing.
Key Players & Entities
- ABVC BIOPHARMA, INC. (company) — Registrant
- American BriVision (Holding) Corp (company) — Former company name
- May 9, 2024 (date) — Date of earliest event reported
- 44370 Old Warm Springs Blvd. Fremont, CA 94538 (location) — Principal executive office 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 details of the agreement are not provided in this document.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on May 9, 2024.
What is the principal business address of ABVC Biopharma, Inc.?
The principal business address of ABVC Biopharma, Inc. is 44370 Old Warm Springs Blvd., Fremont, CA 94538.
What was ABVC Biopharma, Inc. formerly known as?
ABVC Biopharma, Inc. was formerly known as American BriVision (Holding) Corp.
In which state is ABVC Biopharma, Inc. incorporated?
ABVC Biopharma, Inc. is incorporated in Nevada.
Filing Stats: 826 words · 3 min read · ~3 pages · Grade level 13.3 · Accepted 2024-05-09 09:27:45
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share ABVC The Nasdaq Stock Mar
- $6,250,000 — hereof, Oncox shall pay ABVC a total of $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 ) within 30 days of enterin
- $625,000 — with an additional milestone payment of $625,000 in cash after OncoX's next round of fun
- $100,000 — cox may remit cash payments of at least $100,000 towards the licensing fees and deductib
Filing Documents
- ea0205569-8k_abvcbio.htm (8-K) — 28KB
- ea020556901ex10-1_abvcbio.htm (EX-10.1) — 34KB
- ea020556901ex10-2_abvcbio.htm (EX-10.2) — 34KB
- ea020556901ex99-1_abvcbio.htm (EX-99.1) — 18KB
- ex99-1_001.jpg (GRAPHIC) — 6KB
- 0001213900-24-041053.txt ( ) — 312KB
- abvc-20240509.xsd (EX-101.SCH) — 3KB
- abvc-20240509_lab.xml (EX-101.LAB) — 33KB
- abvc-20240509_pre.xml (EX-101.PRE) — 22KB
- ea0205569-8k_abvcbio_htm.xml (XML) — 3KB
01 Entry into Material Definitive Agreements
Item 1.01 Entry into Material Definitive Agreements On May 8, 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 BLEX 404 single-herb botanical drug extract from the dry fruit body of Maitake Mushroom (Grifola Frondosa) for treatment of Pancreatic Cancer (the " Licensed Products "), within a certain territory, specified as 50% of the Worldwide Marketsfor 20 years (the " Oncox Agreement "). In consideration thereof, Oncox shall pay ABVC a total of $6,250,000 (or 1,250,000 Oncox shares valued at $5 per share 1 ) within 30 days of entering into the Oncox Agreement, with an additional milestone payment of $625,000 in cash after OncoX's next round of fundraising, of which there can be no guarantee. Oncox may remit cash payments of at least $100,000 towards the licensing fees and deductible from the second milestone payment; ABVC is also entitled to royalties of 5% of Net Sales, as defined in the Oncox Agreement, from the first commercial sale of the Licensed Product in the noted territory, which remains uncertain. The Company will permit Oncox to pay the license fee in installments or in a lump sum and will allow Oncox to use its revenue to fund such payments. 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 n
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. May 8, 2024 10.2 Definitive License Agreement between Rgene and OncoX BioPharma, Inc. dated May 8, 2024 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. May 9, 2024 By: /s/ Uttam Patil Uttam Patil Chief Executive Officer 2