ABVC Announces Global Licensing Deal With ForSeeCon Eye For Vitargus

(RTTNews) - ABVC BioPharma, Inc. (ABVC) announced on Tuesday that the Company and its subsidiary BioFirst Corp. have signed a global licensing agreement with ForSeeCon Eye Corp. for its Ophthalmology pipeline, including the medical device Vitargus.

This agreement will include Vitargus' clinical trial, registration, manufacturing, supply, and distribution rights.

ABVC will receive an initial licensing payment of $30 million in cash or shares within 30 days of the agreement's execution.

Additionally, ABVC is eligible for a milestone payment of $3.5 million in cash after the first successful fundraising round, as well as royalties of 5 percent of net sales, capped at $60 million, following the launch of the Licensed Product.

The company stated that BioFirst will also receive the same licensing fees and royalties as ABVC.