ABVC BioPharma, Inc. (ABVC) saw an incline of 19.92% in the aftermarket. However, the last trading session closed at $2.46 with an increase of 4.68%.
ABVC BioPharma Restructures Joint Venture
ABVC announced the restructuring of a joint venture to expand access to early stage research on 12th October 2021. Lucidam has announced the completion of a joint venture agreement. BioLite Japan, an established ABVC affiliate, will collaborate on business development to explore early-stage possibilities in drug research, digital health, and medical device technologies.
According to the joint venture agreement, ABVC will hold 49 percent of BioLite Japan and Lucidam will own 51 percent (rather than its pre-agreement 50 percent ownership). The new joint venture will be led by Dr. Toru J. Seo, who will be located in Tokyo. Dr. Seo has extensive R&D and business development expertise in the pharmaceutical sector, having worked for GSK, Merck, Taisho, and Pfizer, most recently as Senior Director and Asia Pacific Lead in the Worldwide Business Development business office.
Site Selection for ABV-1505 ADHD Phase II Part 2 Clinical Study
On 13th September 2021, ABVC announced that ABV-1505 Attention-Deficit Hyperactivity Disorder (ADHD) Phase II research clinical site selection was concluded. The US Food and Drug Administration approved the Phase II, Part 1 research, which was completed at the University of California, San Francisco. However, the ABV-1505 (ADHD) Part 2 research is a multi-nation, multi-site, randomized, double-blind, placebo-controlled trial with about 100 patients.
Furthermore, all of the primary investigators and locations were chosen are well respected internationally for their expertise in the treatment of ADHD. ABVC anticipates the Phase II Part 2 trial, which they intend to finish in late 2022, will offer preliminary confirmation of ABV-1505’s effectiveness and safety. The firm further stressed the relevance of ABVC BioPharma’s botanical sourcing focus in medication development. Their clinical trials continue to show that the medications derived from plants have considerable therapeutic advantages in the treatment of major medical diseases with few and adverse effects.
New PCT Filings for MDD and ADHD Treatments
On 1st September 2021, ABVC stated that it has submitted additional PCT (Patent Cooperation Treaty) applications. These applications are meant for their medications to treat major depressive disorder (MDD) and attention deficit hyperactivity disorder. 60 adult patients with verified moderately severe MDD were treated with PDC-1421 three times a day for six weeks. PDC-1421 met the primary outcome of a massively important 13.2-point reduction in the Montgomery-sberg Depression Rating Scale.
PDC-1421 demonstrated dose-dependent effectiveness against MDD in a Per-Protocol (PP) study, with a high dosage (2 x 380 mg) resulting in a 13.4-point reduction in MADRS total score from baseline and a low dose (380 mg) resulting in a 10.4-point drop against 8.6 in the placebo group. There were no serious complications in the patients.