ABVC - Why ABVC BioPharma Stock Is Up Today | Benzinga
ABVC BioPharma, Inc. (NASDAQ:ABVC) shares are trading higher Tuesday after the company announced it has entered into a global licensing agreement with ForSeeCon Eye Corporation for the company’s ophthalmology pipeline.
The Details:
ABVC BioPharma said that the licensing agreement includes the ophthalmology pipeline, including the medical device Vitargus licensed products and clinical trial, registration, manufacturing, supply, and distribution rights.
ABVC will receive the first licensing payment of $30 million in cash and shares within 30 days of executing the agreement. ABVC is entitled to another milestone payment of $3.5 million in cash after the first useful fundraise and royalties of 5% of net sales, up to $60 million, after the launch of the licensed product.
“We are thrilled to announce a new licensing deal that we believe will make our product available to more patients undergoing the tedious Vitrectomy ...