Business
ABVC BioPharma Provides Updates on ADHD Phase IIb Clinical Study
FREMONT, CA, Aug. 23, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – ABVC BioPharma, Inc. (NASDAQ: ABVC) ("Company"), a clinical-stage biopharmaceutical company
About this update from Abvc Biopharma, Inc.
[{"type":"text","content":"FREMONT, CA, Aug. 23, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – ABVC BioPharma, Inc. (NASDAQ: ABVC) (\"Company\"), a clinical-stage biopharmaceutical company developing therapeutic solutions in oncology/hematology, CNS, and ophthalmology, today announced that 60 subjects had been enrolled and 53 had completed the eight-week study for the Company's ADHD Phase IIb clinical study. These subjects were enrolled at the University of California San Francisco (UCSF) Medical Center and five Taiwanese medical centers. The study entitled \"A Phase IIb Study of PDC-1421 Capsule to Evaluate the Safety and Efficacy in Patients with Adult Attention-Deficit/Hyperactivity Disorder\" is a randomized, double-blind, placebo-controlled study involving a total of approximately 100 patients in the United States and Taiwan. The Phase IIb clinical study continues the Phase IIa clinical study of ABV-1505. Phase IIa successfully achieved the specified primary endpoints at UCSF and was accepted by the U.S. Food & Drug Administration in October 2020. \"At all of our sites, the enrollment of subjects participating in our ADHD Phase IIb study is going as planned,\" said ABVC BioPharma Chief Executive Officer Uttam Patil, Ph. D. \"To reach an interim analysis, the study requires 69 patients' data. The remaining nine subjects are scheduled for screening in September. Our clinical trials continue to demonstrate that medicine derived from plants can have significant therapeutic benefits, often with few - if any - side effects when treating serious medical conditions.\" According to the Polaris market research report, the global ADHD treatment market was valued at $16.13 billion in 2022 and is expected to reach $32.14 billion by 2030 with a CAGR of 7.1% over the forecast period.[1] About ABVC BioPharmaABVC 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. ABVC BioPharma's network of research institutions includes Stanford University, the University of California at San Francisco, and Cedars-Sinai Medical Center. For Vitargus®, the Company intends to conduct glo...