ABVC - American BriVision Announces Vitargus(R) Presentation at Upcoming AAO 2019 Annual Meeting
· Dr.Andrew Chang, principal investigator, will present encouraging results onVitargus® from recently completed feasibility study
· Companyto initiate multi-national, multi-site pivotal study for Vitargus® in 2020,assuming sufficient funding
Fremont, CA - (NewMediaWire) - October 10, 2019 - American BriVision (Holding)Corporation (OTCQB: ABVC) (the “Company”), a clinical stage biopharmaceuticalcompany developing therapeutic solutions in oncology/hematology, CNS, andophthalmology, today announced that feasibility study results regardingVitargus®, its investigational medical device, will be reported during apresentation at the Retina Subspecialty Day program of the American Academy ofOphthalmology (AAO) 2019 Annual Meeting.
Dr. Andrew Chang, the principalinvestigator of the feasibility study, will present the results at 5:12pm PSTon Friday, October 11, at the Moscone Center in San Francisco. Dr. Chang willdiscuss the lack of toxicity and any treatment-related serious adverse events(SAEs) in the study as well as data that demonstrate the efficacy of Vitargus®as a viable potential alternative for vitreous substitution in the surgicaltreatment of retinal detachment and vitreous hemorrhage. Given the encouragingstudy results, the Company plans to initiate a multi-national, multi-sitepivotal study for Vitargus® in 2020, assuming sufficient funding.
Details of the presentation areas follows:
Title: Vitreous Substitutes Following Vitrectomy Surgery
Presenter: Dr. Andrew Chang, MBSS, PhD – Principal Investigator
Session date/time: Friday, October 11, 2019, 5:12 p.m. PST
Session title: First-Time Results of Clinical Trials
Room: Moscone Center – WEST 3002 Room
Grand View Research estimatesthe global retinal surgery devices market size to be $1.56 billion in 2016,growing at a 7.8% CAGR through 2025, and driven by the growing prevalence ofdiabetic retinopathy, a major complication arising from diabetes. Vitargus® isan injectable hydrogel that transforms into a gel matrix in the eye afterinjection and upon exposure to physiological temperatures.
About American BriVision
American BriVision is aclinical stage biopharmaceutical company focused on utilizing its licensedtechnology to conduct proof-of-concept trials through Phase II of the clinicaldevelopment process at world-famous research institutions (such as StanfordUniversity, University of California at San Francisco, and Cedars-Sinai MedicalCenter). The company has an active pipeline of six drugs and one medicaldevice (ABV-1701/Vitargus®) under development.
Forward-Looking Statements
This press release contains“forward-looking statements.” Such statements may be preceded by the words“intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,”“predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or similarwords. Forward-looking statements are not guarantees of future performance, arebased on certain assumptions, and are subject to various known and unknownrisks and uncertainties, many of which are beyond the Company’s control, andcannot be predicted or quantified, and, consequently, actual results may differmaterially from those expressed or implied by such forward-looking statements.Such risks and uncertainties include, without limitation, risks anduncertainties associated with (i) our inability to manufacture our productcandidates on a commercial scale on our own, or in collaboration with thirdparties; (ii) difficulties in obtaining financing on commercially reasonableterms; (iii) changes in the size and nature of our competition; (iv) loss ofone or more key executives or scientists; and (v) difficulties in securingregulatory approval to proceed to the next level of the clinical trials or tomarket our product candidates. More detailed information about the Company andthe risk factors that may affect the realization of forward-looking statementsis set forth in the Company’s filings with the Securities and ExchangeCommission (SEC), including the Company’s Annual Report on Form 10-K and itsQuarterly Reports on Form 10-Q. Investors are urged to read these documentsfree of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update orrevise its forward-looking statements as a result of new information, futureevents or otherwise.
Contact:
Andy An – Chief FinancialOfficer
765-610-8826
andyan@ambrivis.com