Under the terms of the agreement, ABVC grants OncoX exclusive rights for one of ABVC's four products in its Oncology pipeline to develop, manufacture, and commercialize BLEX 404, a promising therapeutic agent for the treatment of NSCLC. We believe that this collaboration leverages the respective strengths of both companies to accelerate the availability of this vital treatment to patients worldwide.
"We are thrilled to finalize this licensing agreement with OncoX, an emerging frontrunner in the healthcare industry," said Dr.
"OncoX is well-positioned to bring BLEX 404 to the market efficiently and effectively. Through this partnership, patients suffering from NSCLC will gain access to a treatment option that has the potential to transform their lives. This licensing agreement exemplifies ABVC and OncoX's shared dedication to advancing medical science and improving patient care. Both companies are committed to working closely to ensure the successful development and commercialization of BLEX 404," said
NSCLC often develops resistance to single-agent therapies. Thus, combining different drug classes, such as chemotherapy with targeted therapy or immunotherapy, can help overcome resistance mechanisms and improve treatment outcomes.2 We believe combination therapy often leads to higher response rates than monotherapy, particularly in aggressive or advanced NSCLC, where a robust initial response is crucial for patient outcomes. Synergistic effects have been shown when β-glucan is used alongside chemotherapy in cancer patients.3 Studies of patients being treated with Combination Therapy show an increase in the overall survival rate for lung cancer.4 Combination Therapy represents a promising approach to address the unmet demands in NSCLC treatment by improving efficacy, overcoming resistance, and providing patients with more personalized and targeted therapeutic options. MSKCC, a prominent research institute in the
The terms of the agreement include upfront payments, milestone payments upon achievement of certain developmental milestones, and royalties on net sales of BLEX 404, which cannot be guaranteed.
Management believes the Company's product pipeline has excellent market potential. The global cancer therapeutics market is expected to be worth around
For more information about ABVC and its subsidiaries, stay updated on the latest updates or visit https://abvcpharma.com. ABVC urges its shareholders to sign up on the Company's website for the latest news alerts: visit https://abvcpharma.com/?page_id=17707
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Forward-Looking Statements
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the
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Email: leedschow@ambrivis.com
[1]https://www.sciencedirect.com/science/article/abs/pii/S0960852407001083?via%3Dihub
[2] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10203373/
[3] https://pubmed.ncbi.nlm.nih.gov/12126464/
[4]https://lcfamerica.org/treatment/combination-therapy/#:~:text=Combining%20pembrolizumab%20with%20conventional%20chemotherapy,cell%20lung%20cancer%20(NSCLC).
[5] https://pubmed.ncbi.nlm.nih.gov/19253021/
[6] https://pubmed.ncbi.nlm.nih.gov/25351719/
[7] https://www.precedenceresearch.com/cancer-therapeutics-market
[8]https://www.gminsights.com/industry-analysis/lung-cancer market#:~:text=Lung%20Cancer%20Market%20size%20was,raise%20awareness%20about%20the%20disease.
Source:
2024 GlobeNewswire, Inc., source