ABVC Biopharma & Biolite Entered Into Definitive Agreement With Oncox Biopharma To Collaborate On Combination Therapy; ABVC & Unit Are Eligible To Receive Aggregate License Fee Of $12.5M In Form Of Cash Or Shares Of Oncox Securities; Under Terms Of Deal, ABVC Grants Oncox Exclusive Rights For One Of ABVC's 4 Products In Its Oncology Pipeline
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ABVC Biopharma and Biolite have entered into a definitive agreement with Oncox Biopharma to collaborate on a combination therapy. ABVC and its unit are eligible to receive an aggregate license fee of $12.5 million in cash or shares of Oncox securities. Under the terms of the deal, ABVC grants Oncox exclusive rights to one of ABVC's four products in its oncology pipeline.
May 24, 2024 | 12:17 pm
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ABVC Biopharma has entered into a $12.5 million agreement with Oncox Biopharma, granting Oncox exclusive rights to one of its oncology products. This deal could provide a significant revenue boost and enhance ABVC's market position in the oncology sector.
The agreement with Oncox Biopharma is likely to have a positive short-term impact on ABVC's stock price due to the potential revenue from the $12.5 million license fee and the strategic importance of the exclusive rights deal in the oncology sector.
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