ABVC BioPharma Enters into a Global Licensing Agreement with ForSeeCon Eye Corporation (FEYE) for the Development and Commercialization of Various Ophthalmology Products
Shots:
- ABVC BioPharma and its subsidiary BioFirst signed an agreement with FEYE to enhance the development ABVC's Ophthalmology pipeline which includes Vitargus, a medical device valued at $187M
- Under the terms of the agreement, FEYE received the rights to develop, manufacture, supply, and distribute the Licensed Products' from ABVC BioPharma whereas ABVC expects to receive an up front payment of $30M cash within 30 days post-signing of the agreement and is eligible to receive a milestone payment of $3.5M in cash post first useful fundraise, plus 5% royalties (up to $60M) on net sales after the launch of the Licensed Products
- ABVC also received distribution rights from FEYE for various eye products and will serve as an R&D partner to discover new pipelines for ophthalmic products. Furthermore, BioFirst is entitled to receive the same licensing fees & royalties as ABVC
Ref: Globenewswire | Image: ABVC BioPharma
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Disha is a content writer at PharmaShots. She is passionate and curious about recent updates and developments in MedTech and Pharma industry. She covers news related to clinical trial results and updates. She can be contacted at connect@pharmashots.com.
