ABVC - ABVC BioPharma Provides Updates on ADHD Phase IIb Clinical Study

FREMONT, CA - (NewMediaWire) - August 23, 2023 -  ABVC BioPharma, Inc. (NASDAQ: ABVC)("Company"), a clinical-stage biopharmaceutical company developingtherapeutic solutions in oncology/hematology, CNS, and ophthalmology, todayannounced that 60subjects had been enrolled and 53 had completed the eight-week study for the Company's ADHD Phase IIb clinical study. These subjects were enrolled at the Universityof California San Francisco (UCSF) Medical Center and five Taiwanese medicalcenters.

Thestudy entitled "A Phase IIbStudy of PDC-1421 Capsule to Evaluate the Safety and Efficacy in Patients withAdult Attention-Deficit/Hyperactivity Disorder"is a randomized, double-blind, placebo-controlled study involving a total ofapproximately 100 patients in the United States and Taiwan. The Phase IIb clinicalstudy continues the Phase IIa clinical study of ABV-1505. Phase IIa successfullyachieved the specified primary endpoints at UCSF and was accepted by the U.S.Food & Drug Administration in October 2020.

"Atall of our sites, the enrollment of subjects participating in our ADHD Phase IIbstudy is going as planned," said ABVC BioPharma Chief Executive Officer Uttam Patil, Ph. D. "To reach an interim analysis, the study requires 69patients' data. The remaining nine subjects are scheduled for screening in September.Our clinical trials continue to demonstrate that medicine derived from plants canhave significant therapeutic benefits, often with few - if any - side effects whentreating serious medical conditions."

Accordingto the Polaris market research report, the global ADHD treatment market wasvalued at $16.13 billion in 2022 and is expected to reach $32.14 billion by2030 with a CAGR of 7.1% over the forecast period.[1]

About ABVC BioPharma

ABVC BioPharma is a clinical-stage biopharmaceutical company with an activepipeline of six drugs and one medical device (ABV-1701/Vitargus®)under development. For its drug products, the Company utilizes in-licensedtechnology from its network of world-renowned research institutions to conductproof-of-concept trials through Phase II of clinical development. ABVCBioPharma's network of research institutions includes Stanford University, theUniversity of California at San Francisco, and Cedars-Sinai Medical Center. ForVitargus®, the Company intends to conduct global clinical trialsthrough Phase III.

Forward-Looking Statements

This press release contains "forward-looking statements." The wordsmay precede such statements as "intends," "may," "will,""plans," "expects," "anticipates," "projects,""predicts," "estimates," "aims," "believes,""hopes," "potential," or similar words. Forward-lookingstatements are not guarantees of future performance, are based on certainassumptions, and are subject to various known and unknown risks anduncertainties, many of which are beyond the Company's control and cannot bepredicted or quantified, and, consequently, actual results may differmaterially from those expressed or implied by such forward-looking statements.Accordingly, none of the outcomes expressed herein are guaranteed. Such risksand uncertainties include, without limitation, risks and uncertaintiesassociated with the following:

1. Our inability to manufacture our product candidates on a commercial scale on our own or in collaboration with third parties.
2. Difficulties in obtaining financing on commercially reasonable terms.
3. Changes in the size and nature of our competition.
4. Loss of one or more key executives or scientists.
5. Difficulties in securing regulatory approval to proceed to the next level of clinical trials or to market our product candidates.

More detailed informationabout the Company and the risk factors that may affect the realization offorward-looking statements is outlined in the Company's filings with theSecurities and Exchange Commission (SEC), including the Company's Annual Reporton Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged toread these documents free of charge on the SEC's website at http://www.sec.gov. The Company assumes no obligation to publiclyupdate or revise its forward-looking statements due to new information, futureevents, or otherwise.

Contact:
Tom Masterson

Email:tmasterson@allelecomms.com

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