The Company holds a U.S. patent for the same treatment
FREMONT, 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).
The 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.
"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."
The invention relates to oral administration of the formulation containing a Radix Polygala (Polygala tenuifolia Willd) extract, PDC-1421, as a capsule for treating ADHD. Based on current studies, the composition should be administered three times a day for eight weeks; each dose ranges between 380-760 mg of the botanical extraction. ABV-1505, the Company's asset indicated for use in ADHD, containing PDC-1421, is a botanical-based Norepinephrine Transporter (NET) inhibitor that has completed Phase IIa clinical studies; the Phase IIb study is underway, and we expect to release the interim report by the end of the Q3.
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 BioPharma & Its Industry
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, the 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 of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. None of the outcomes expressed herein are guaranteed. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our product candidates on a commercial scale on our own, or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; and (v) difficulties in securing regulatory approval to proceed to the next level of the clinical trials or to market our product candidates. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors are urged to read these documents free of charge on the SEC's website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
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Contact:
Leeds Chow
Email: leedschow@ambrivis.com
