FREMONT, CA, June 06, 2023 (GLOBE NEWSWIRE) — via NewMediaWire — ABVC BioPharma, Inc. (“ABVC” or the “Company”) (NASDAQ: ABVC), a clinical-stage biopharmaceutical company developing therapeutic solutions in oncology/hematology, CNS, and ophthalmology, today announced that BioKey, a wholly-owned subsidiary of the Company based in Fremont, California, signed a collaborative agreement with MerDury BioPharma on June 1st, 2023 to co-develop new drug products leveraging MerDury’s StackDoseTM platform technology.
MerDury’s StackDoseTM platform has the technology to generate new products with unique fast-release properties (dissolution < 15 minutes) when it is administered orally and performs an automatic 3D printing manufacturing process.
Coupled with BioKey’s expertise in orally controlled release technology for developing specialty generic and branded pharmaceutical products, along with its GMP drug manufacturing capabilities, we believe the new technology will enable the Company to develop more IP-protected and brand-name products for commercialization.
“We are pleased to establish a collaboration with MerDury BioPharma using the proprietary 3D printing StackDoseTM technology for new product development and commercialization,” said Dr. Howard Doong, ABVC Chief Executive Officer. “The global oral drug delivery market is estimated to be US$148.2 billion in 2027 and the orally disintegrating tablet market to exceed US$27.2 billion by 2025, according to Research and Market (2022) research report.”
About ABVC BioPharma
ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus®) under development. For its drug products, the company utilizes in-licensed technology from its network of world-renowned research institutions to conduct proof-of-concept trials through Phase II of clinical development. The company’s network of research institutions includes Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus®, the company intends to conduct global clinical trials through Phase III.
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 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.
Contact:
Tom Masterson
Email: tmasterson@allelecomms.com