ABVC - ABVC Biopharma terminates contracts with NeuCen and BioKey

ABVC Biopharma (NASDAQ:ABVC) said on Friday that two of its contracts had been terminated after the parties were unable to agree to the final terms of the loan between BioKey and NeuCen. The first contract, which was announced on May 3, was a $3M clinical services agreement between BioKey and NeuCen BioMed. Under the terms of the now terminated agreement, BioKey was to be paid $3M over a 3-year period to guide two NeuCen drug products, CEN501 and NEU001, through completion of Phase II clinical studies. ABVC and NeuCen had also agreed that ABVC would loan NeuCen $1M through a series of convertible debentures. The second contract, which was announced on May 25, called for ABVC BioPharma to identify candidates interested in out-licensing NeuCen unit Orion developmental products. Under the terms, ABVC had to identify licensing partners for Orion products and, in return, would receive a monthly retainer fee and 15% of

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ABVC Biopharma terminates contracts with NeuCen and BioKey