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FAQ: ABVC BioPharma's Vitargus® Licensing Agreement with ForSeeCon Eye Corporation
TL;DR
ABVC BioPharma's licensing deal with ForSeeCon offers up to $93.5 million in total value, providing significant financial advantage in the growing ophthalmic device market.
ABVC receives $250,000 payment from ForSeeCon under their licensing agreement, bringing total payments to $816,000 with potential for $33.5 million in fees plus royalties.
ABVC's Vitargus medical device eliminates the need for second surgeries and enables normal mobility, improving patient recovery and quality of life after eye procedures.
ABVC's bioabsorbable hydrogel Vitargus gradually absorbs without removal surgery, unlike traditional silicone oil that requires face-down positioning and second procedures.
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ABVC BioPharma has received an additional $250,000 payment from ForSeeCon Eye Corporation under their existing ophthalmic medical device licensing agreement, bringing total payments received to $816,000.
The total licensing fee is up to $33.5 million, consisting of a $30 million upfront payment in ForSeeCon shares and a $3.5 million milestone payment, plus potential royalties capped at $60 million, making the maximum potential value $93.5 million.
Vitargus® is ABVC's investigational bioabsorbable hydrogel vitreous substitute that doesn't require removal surgery, unlike traditional silicone oil which is non-degradable and requires a second surgery for removal.
The agreement provides meaningful financial support for advancing ABVC's ophthalmic programs and reflects ForSeeCon's long-term commitment to the Vitargus® technology, with the potential for substantial future payments.
Vitargus® is bioabsorbable and doesn't require removal surgery or face-down positioning, while silicone oil is non-degradable, requires a second surgery for removal, and often needs face-down positioning post-operation.
Part of the payments will support the establishment of ABVC's Ophthalmic Research and Quality Verification Laboratory near the Hsinchu Science Park in Taiwan for clinical evaluations, AI-enabled image analysis, and product quality verification.
The global vitreous substitute market is projected to grow from $2.5 billion in 2024 to $3.61 billion by 2032 (6.3% CAGR), while the broader ophthalmic medical device market is estimated to increase from $63 billion to over $95 billion in the same period.
Vitargus® is currently an investigational device in clinical development and is not yet a fully commercialized product.
The agreement includes a $30 million upfront payment in ForSeeCon shares, a $3.5 million milestone payment due 30 days after completion of ForSeeCon's next fundraising round, and 5% royalties on net sales capped at $60 million.
Curated from NewMediaWire
