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ABVC BioPharma Announces Collaboration With MerDury BioPharma for New Product Development and Commercialization
FREMONT, CA, June 06, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- ABVC BioPharma, Inc. (“ABVC” or the “Company”) (NASDAQ: ABVC), a clinical-stage
About this update from Abvc Biopharma, Inc.
[{"type":"text","content":"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 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 o...