- Collaboration combines BioLite Japan’s early-stage discovery capabilities with the Company’s clinical trial expertise
- BioLite Japan’s expertise in academic and medical community in Japan and APAC region brings new development candidates to the Company that otherwise may not be possible
FREMONT, CA, Sept. 05, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American BriVision (Holding) Corporation (OTCQB: ABVC) (the “Company”), a clinical stage biopharmaceutical company developing therapeutic solutions in oncology/hematology, CNS, and ophthalmology, today announced an exclusive, worldwide, multi-target research collaboration and license agreement with BioLite Japan, a drug discovery and research firm based in Japan that seeks to identify early-stage opportunities in drug development, digital health, and medical device technology for further development.
Under the terms of the agreement, BioLite Japan will identify New Chemical Entities (NCEs), New Biological Entities (NBEs), diagnostic tools, OTC companions, biomarkers, and/or medical devices in the early stages of discovery and development, in-licensing and conducting pre-clinical research as necessary. BioLite Japan will then transfer the rights of such candidates to the Company for further clinical development, regulatory approvals, and subsequent commercialization in exchange for product royalties and/or milestone payments.
“We are extremely excited to be working with BioLite Japan in this translational research joint venture and gaining access to additional early stage product candidates that we otherwise would not have access to,” said Dr. Howard Doong, Chief Executive Officer of American BriVision. “The team at BioLite Japan has extensive experience and distinguished careers in the academic, medical, and business fields, primarily in Japan and Asia, all of which will be critical in identifying the proper early-stage opportunities for our partnership to pursue. Additionally, we look forward to gaining additional exposure to the Japanese capital markets, as we look to expand beyond our markets in Taiwan and the U.S. in the hopes of diversifying our investor base.”
About American BriVision
American BriVision is a clinical stage biopharmaceutical company focused on utilizing its licensed technology to conduct proof-of-concept trials through Phase II of the clinical development process at world-famous research institutions (such as Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center) and then out-licensing the products to international pharmaceutical companies for pivotal Phase III studies and, eventually, generating global sales. The company has an active pipeline of six drugs and one medical device (ABV-1701/Vitargus®) under development.
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. 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 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 Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.