ABVC BioPharma's Affiliate OncoX Acquires Lycopenoid Platform, Bolstering Oncology Portfolio
OncoX BioPharma Inc., an affiliate of ABVC BioPharma, has acquired the Lycopenoid Lycogen® platform, a move that could generate significant revenue through a scalable royalty strategy and strengthen ABVC's position in botanical oncology innovation.
ABVC BioPharma, Inc. has announced that its affiliate, OncoX BioPharma Inc., has acquired the Lycopenoid Lycogen® platform, including patented manufacturing technology and commercialization rights, from Asia-Pacific Biotech Developing Inc. for approximately USD $4.06 million. This acquisition is poised to unlock commercial potential across dermatology, oncology, and nutraceutical sectors, with OncoX estimating cumulative revenues could reach USD $25–30 million over the next five years. ABVC stands to benefit from this through royalty payments, aligning with its strategy for non-dilutive revenue growth.
The Lycogen® platform, a next-generation lycopene-analog, has shown preclinical promise in cancer-related and metabolic disease models due to its antioxidant and anti-inflammatory properties. This acquisition not only enhances OncoX's pipeline of natural compound-based therapies but also underscores ABVC's commitment to leveraging affiliate-driven development for clinical and shareholder value. The global oncology drug market, valued at over USD $208 billion in 2023, is expected to grow to $484 billion by 2032, highlighting the significance of this acquisition in a rapidly expanding market.
ABVC's licensing agreement with OncoX, which includes a deal valued up to $105 million, has already seen equity-based consideration internally valued at $25 million, demonstrating the effectiveness of ABVC's scalable revenue model. This strategic move by ABVC and OncoX reflects the growing demand for multifunctional natural compounds in therapeutic and consumer applications, positioning both companies for long-term growth in the competitive oncology and nutraceutical markets.