ABVC BioPharma (NASDAQ:ABVC) said Wednesday that it and its affiliate Rgene have entered into a global licensing agreement with OncoX.
The company expects that the agreement will facilitate the advancement of treatments for non-small cell lung cancer.
ABVC and its affiliates will receive a license fee of $12.5 million in the form of cash or shares of OncoX securities within 30 days of entering into the agreement, with an additional payment of $1.25 million in cash after the next fundraising round by OncoX.
ABVC and its affiliates are also entitled to royalties equal to 5% of net sales, up to $12.5 million after launch of the licensed product.
Under the terms of the agreement, ABVC granted OncoX exclusive rights to one of four ABVC products in its oncology pipeline to develop, manufacture and commercialize BLEX 404, a therapeutic agent for the treatment of NSCLC.