ABVC Biopharma Enters Material Definitive Agreement

TL;DR

ABVC Bio just signed a big deal, filing 8-K today.

AI Summary

ABVC Biopharma, Inc. announced on May 24, 2024, the entry into a material definitive agreement. The company, formerly known as American BriVision (Holding) Corp, is based 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 be positive or negative depending on the terms, and the lack of detail in this initial filing warrants a medium risk assessment.

Key Players & Entities

• ABVC BIOPHARMA, INC. (company) — Registrant
• American BriVision (Holding) Corp (company) — Former Company Name
• May 24, 2024 (date) — Date of Report
• Fremont, CA (location) — Business Address

FAQ

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 ) 30 days after entering th
• $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

• ea0206790-8k_abvcbio.htm (8-K) — 30KB
• ea020679001ex10-1_abvcbio.htm (EX-10.1) — 36KB
• ea020679001ex10-2_abvcbio.htm (EX-10.2) — 36KB
• ea020679001ex99-1_abvcbio.htm (EX-99.1) — 18KB
• ex99-1_001.jpg (GRAPHIC) — 2KB
• 0001213900-24-046419.txt ( ) — 314KB
• abvc-20240524.xsd (EX-101.SCH) — 3KB
• abvc-20240524_lab.xml (EX-101.LAB) — 33KB
• abvc-20240524_pre.xml (EX-101.PRE) — 22KB
• ea0206790-8k_abvcbio_htm.xml (XML) — 3KB

01 Entry into Material Definitive Agreements

Item 1.01 Entry into Material Definitive Agreements On May 23, 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 Myelodysplastic Syndrome (the " Licensed Products "), within a certain territory, specified as 50% of the Worldwide Markets for 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 ) 30 days after entering 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. Oncox may use its revenue to fund the licensing fees. Oncox entered into the same agreement with ABVC's affiliate, Biolite, Inc. 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, solicit

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 23, 2024 10.2 Definitive License Agreement between Biolite, Inc. and OncoX BioPharma, Inc. dated May 23, 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 24, 2024 By: /s/ Uttam Patil Uttam Patil Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR