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FREMONT, CA, May 13, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – ABVC BioPharma, Inc. (NASDAQ: ABVC), a clinical stage biopharmaceutical company developing therapeutic solutions in oncology/hematology, CNS, and ophthalmology, today announced it has engaged the FreeMind Group to help ABVC explore and identify funding opportunities from non-dilutive sources, such as the NIH, DOD, NSF, FDA and BARDA, as well as private foundations.
FreeMind has a knowledgeable and experienced team of project managers with the ability to help ABVC identify the most suitable grant opportunities and assist in preparing and submitting the applications. Over the last 10 years, their work has helped their clients to receive over $1.7 billion in non-dilutive funding.
Initially, ABVC intends to work with FreeMind to prepare grant applications for three projects: a Phase II clinical study of a novel treatment for pancreatic cancer, a Phase II clinical study of a novel treatment for major depression in cancer patients and a preclinical development program for pancreatic enzyme replacement therapy (PERT).
“We are hopeful that this collaboration will allow us to fund more of our promising clinical trials from non-dilutive capital sources,” said Dr. Howard Doong, Chief Executive Officer of ABVC BioPharma. “Funding from these new sources could help us to accelerate our development timetable across the board, especially with respect to our oncology medicines derived from the maitake mushroom.”
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, it is focused on utilizing its licensed technology to conduct proof-of-concept trials through Phase II of the clinical development process at world-famous research institutions (such as Stanford University, University of California at San Francisco, and Cedars-Sinai Medical Center). For Vitargus, the company intends to conduct the clinical trials through Phase III at various locations throughout the globe.
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. 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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