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
Related News:- Coherus BioSciences to Divest its Ophthalmology Franchise to Sandoz for $170M Up Front
PharmaShots! Your go-to media platform for customized news ranging for multiple indications. For more information connect with us at connect@pharmashots.com