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ABVC BioPharma Awarded ADHD Treatment Patent in Australia, a Potential $32 Billion Market
The Company holds a U.S. patent for the same treatment FREMONT, CA - (NewMediaWire) - June 25, 2024 - ABVC BioPharma, Inc. (NASDAQ: ABVC) ("Company"), a
About this update from Abvc Biopharma, Inc.
[{"type":"text","content":"\nThe Company holds a U.S. patent for the same treatment\n\n\nFREMONT, CA - (NewMediaWire) - June 25, 2024 - ABVC BioPharma, Inc. (NASDAQ: ABVC) (\"Company\"), a clinical-stage biopharmaceutical company developing therapeutic solutions in ophthalmology, neurology, and oncology/hematology, is pleased to announce that the Australian Patent Office has accepted its patent application No. 2021403197, for a groundbreaking ADHD treatment. This milestone marks a significant expansion of ABVC's intellectual property portfolio, reinforcing its commitment to providing advanced therapeutic options for individuals with Attention-Deficit Hyperactivity Disorder (ADHD). This patent grants the use of PDC-1421, a Radix Polygala (Polygala tenuifolia Willd) extract used in the Company's asset ABV-1505, targeting Attention Deficit/Hyperactivity Disorder (ADHD). \n \nThe newly accepted Australian patent complements the Company's existing U.S. patent for the same ADHD treatment, further establishing ABVC's position as a global innovator. The patented treatment addresses the core symptoms of ADHD with a novel mechanism of action, offering a potential new option for patients who are not adequately managed by existing therapies.\n \n\"We are thrilled to receive this patent acceptance in Australia, which brings us a step closer to providing effective and innovative treatments to patients worldwide,\" said Dr. Uttam Patil, ABVC Chief Executive Officer. \"This patent underscores our dedication to advancing ADHD care and provides a strong foundation for future development and commercialization efforts in the Australian market. Accepting this patent in Australia enhances the Company's global I.P. portfolio and is expected to open new avenues for strategic partnerships and licensing opportunities. ABVC is committed to leveraging its patented technologies to improve patient outcomes and expand access to cutting-edge ADHD treatments. This patent grants ABVC the right to exclude others from using, offering, or selling PDC-1421 throughout Australia until 2040 (the US patent provides similar protection). As we work towards expanding our patent map into global coverage, we eagerly await the results of patent applications in the European Union, China, Japan, and others.\"\n \nThe invention relates to oral administration of the formulation containing a Radix Polygala ...