Fremont, CA, Dec. 22, 2021 (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 that Vitargus®, the world's first bio-degradable vitreous substitute, was presented by Dr. Andrew Chang, MD, Ph.D on December 11, 2021 at the 14th Asia-Pacific Vitreo-Retina Society (“APVRS”) Congress. APVRS, one of the most prestigious ophthalmology conferences in the Asia-Pacific region, attracts over 800 leading vitreoretinal specialists from around the world. Dr. Chang, the Medical Director of Sydney Retina Clinic and Head of the Retinal Unit at the Sydney Eye Hospital, is the principal investigator of Vitargus Phase I first-in-human clinical study.
Early clinical studies indicate that Vitargus has unique properties that eliminate the need for post-surgery patient face-down positioning and significantly improves recovery period patient comfort and visual acuity compared to existing products. ABVC intends to commence a multi-country, multi-patient Phase II clinical study of Vitargus in 2022 and has already identified three sites and principal investigators in Australia to conduct the study. The objective of the Australian study, expected to begin in Q1 of 2022, is to demonstrate the safety and efficacy of Vitargus as compared to SF6 Gas OE, now commonly used for retina re-attachment.
“We were pleased to see Vitargus included among the latest, high-caliber innovations and treatments selected to present at the APVRS Congress,” said Dr. Howard Doong, Chief Executive Officer of ABVC. “APVRS is committed to promoting cutting-edge innovations and knowledge in the field of vitreo-retina around the world.” Dr. Doong further noted that Vitargus has received collaboration inquiries from several regional and global pharmaceutical companies.
As reported by iHealthcareAnalyst, Inc. on April 12, 2021, the global market for retinal surgery devices is expected to reach $3.7 billion by 2027, driven by a rising geriatric population worldwide.
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.
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. 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.
Contact:
ICR, LLC
Lucy Peng
Phone: +1 646-677-1872
Email: Lucy.Peng@icrinc.com
