ABVC BioPharma Secures $200,000 in First Cash Licensing Payment From Oncology Products Partner, Totaling $546,000 From Three Partners

FREMONT, Calif., Dec. 11, 2024 (GLOBE NEWSWIRE) -- ABVC BioPharma, Inc. (NASDAQ: ABVC), a clinical-stage biopharmaceutical company advancing therapeutic solutions in ophthalmology, CNS (central nervous system), and oncology/hematology, announced the receipt of a $200,000 cash payment from OncoX BioPharma Inc. ("OncoX") as part of its strategic licensing agreement for certain oncology-related products; this payment marks the first installment of $5 million in potential licensing fees from OncoX. With this payment, the total accumulated cash payment ABVC has received from its three strategic partners for licensing various ABVC products is $546,000. ABVC and its subsidiaries BioLite Inc. and Rgene Corporation are each eligible to receive up to 10M OncoX shares, $5M cash payment, and royalties up to $50M after the product launches.¹