ABVC BioPharma rises on licensing agreement for ADHD drug

ABVC Biopharma

16/11/2023 16:41

** Shares of ABVC BioPharma  ABVC.O  rise 6.4% to $1.33 in
morning trade
    ** Co inks global licensing deal with AiBtl BioPharma for
development, manufacturing, supply and distribution rights of
ABVC and its subsidiary BioLite's drugs for
attention-deficit/hyperactivity disorder (ADHD) and a type of
clinical depression, major depressive disorder (MDD)
    ** Deal is for potential licensing income worth $467 mln and
royalties of up to $200 mln - ABVC
    ** ABVC says it will receive 23 mln of AiBtl shares, which
are targeted to be at $10/shr if it has a successful IPO
    ** Share issue to give ABVC a controlling interest in AiBtl
    ** Including session's gain, stock down 77.8% YTD 

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))