ABVC - ABVC BioPharma to identify global licensing partners for Taiwan-based Orion BioTech

ABVC BioPharma (NASDAQ:ABVC) on Wednesday said it had entered into an agreement with Taiwan-based medical device company Orion BioTech to identify global licensing partners. As per the deal, ABVC will use its business relationships globally to find licensing partners for Orion products. In return, ABVC will get a monthly retainer fee and 15% of 15% of the licensing income and royalties received by Orion for each licensed product. The products include Orion's “Lamina Cover” for spine surgery, its “Wireless Intracranial Pressure Monitor” for brain surgery and its “Auto-stop Drill” for orthopedic surgery. Fremont, Calif.-based ABVC is a clinical-stage biotech with an active pipeline of six drugs and one medical device under development. ABVC stock +7.5% to $2.16 in premarket trading.

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ABVC BioPharma to identify global licensing partners for Taiwan-based Orion BioTech