AMERICAN BRIVISION (HOLDING) CORPORATION (OTCMKTS:MTOO) Files An 8-K Other Events
Item 8.01. Other Events.
American BriVision Corporation (the Company, we or us) holds the
exclusive global license from BioLite Inc. (BioLite) for drug and
therapeutic use of the Sixth Product according to the Addendum,
which was entered on January 12 2017, to the collaborative
agreement previously entered with BioLite on December 29, 2015,
as amended May 6, 2016.
On May 26, 2017, we entered into a co-development agreement (the
Co-Dev Agreement) with Rgene Corporation, a corporation
incorporated under the laws of Taiwan (along with Rgene,
collectively the Parties), to co-develop and commercialize
certain products that are included in the Sixth Product as
defined in the Addendum.
Under the terms of the Co-Dev Agreement, Rgene will pay to the
Company $3,000,000 in cash or stock by August 15, 2017 in three
installments. The Company is entitled to receive 50% of the
future net licensing income or net sales profit, if any, and any
development cost shall be equally shared by both Parties.
The foregoing descriptions of the Co-Dev Agreement are summaries
and are qualified in their entirety by reference to such
document, which is filed herewith as Exhibits 99.1 and is
incorporated herein by reference.
Forward Looking Statements
This Form 8-K contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-lookingstatements are
generally identified by the words will, expects, anticipates,
believes, estimates or similar expressions. These forward-looking
statements reflect managements view of future events and are
subject to risks, uncertainties, assumptions and other important
factors, many of which may be beyond our control, and could cause
actual results to differ materially from those expressed or
implied in these forward-lookingstatements. Factors that could
cause actual results to differ from such statements include, but
are not limited to: an adverse decision or decisions following a
review of additional safety information, or findings regarding a
clinical benefit that are inconsistent with those of recent
publications. The forward- looking statements contained herein
represent managements judgment of the Company as of the date
hereof. We disclaim any intent or obligation to update any
forward-looking statement except to the extent required by law.
Item 9.01 Exhibits
Co-Development Agreement with Rgene Corporation, dated May
About AMERICAN BRIVISION (HOLDING) CORPORATION (OTCMKTS:MTOO)
American BriVision (Holding) Corporation is a holding company operating through its subsidiary, American BriVision Corporation. The Company is a biotechnology company focused on the development of drugs and medical devices. It is a clinical-stage biopharmaceutical company focused on utilizing its licensed technology to enhance the development of pre-existing pharmaceutical products for the treatment of various cancer indications and other diseases; prospectively identify patients that may respond to such pharmaceutical products, and commercialize such pharmaceutical products for license in various markets. The Company’s operation is the research and development of five compound licensed to the Company by BioLite Inc. The compounds include ABV-1501, ABV-1502, ABV-1503, ABV-1504 and ABV-1505. As of September 30, 2016, the Company had not generated any revenues from its operations. AMERICAN BRIVISION (HOLDING) CORPORATION (OTCMKTS:MTOO) Recent Trading Information
AMERICAN BRIVISION (HOLDING) CORPORATION (OTCMKTS:MTOO) closed its last trading session at 25.00 with shares trading hands.