biotechnology company specializing in botanically based solutions that deliver
high efficacy with low toxicity for improved health outcomes, today announced
the receipt of $4,245,000in additional gross proceeds from the exercise of
Series A warrants issued in the company’s August 3, 2021, public offering of
securities. Investors participating in ABVC’s financing exercised a total of 673,723
Series A warrants at a price of $6.30 per share. Combined with the Company’s
underwritten public offering of 1,100,000 shares, in which the Company
announced the receipt of gross proceeds of $6,875,000, the Company has received
an aggregate of approximately $11,120,000 as of November 9, 2021.
About ABVC BioPharma, Inc.
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 world.
Forward-Looking Statements
Clinical
trials are in early stages, and there is no guarantee that any specific outcome
will be achieved. 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.
This
press release does not constitute an offer to sell or the solicitation of an
offer to buy these securities, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
that state or jurisdiction.
Contact
ICR,
LLC
Lucy
Peng
Phone:
+1 646-677-1872
Email: Lucy.Peng@icrinc.com