ABVC BIOPHARMA, INC. (ABVC)

ABVC BioPharma, Inc., formerly American BriVision (Holding) Corporation, is a Nevada corporation that operates through its subsidiary American BriVision Corporation (BriVision), incorporated in Delaware in July 2015. It is a biotechnology company focused on unmet medical needs and on developing new drugs and medical devices derived from plants. BriVision builds its pipeline by tracking new medical discoveries and device technologies at research institutions in the Asia-Pacific region. It examines pre-clinical, disease animal model and Phase I safety studies to identify candidates it believes show efficacy and safety. It then licenses the drug or device from the original researchers and presents the clinical plan to principal investigators in the United States, Australia and Taiwan for Phase II trials.

The group includes several subsidiaries. BioLite Holding owns BioLite BVI, which holds 73% of BioLite Inc. (BioLite Taiwan), a Taiwanese drug developer founded in 2006. BioKey, incorporated in California in 2000, initially focuses on generic drugs, and its ownership was transferred to BioKey (Cayman), Inc. in May 2025. Yun Zhi Yi Co. Ltd. is 90% held by BioLite and 10% by director Shuling Jiang, and holds land in Puli, Taiwan that AiBtl BioPharma Inc. is working to acquire for health-related business. In November 2023, the Company and BioLite Taiwan entered multi-year global licensing agreements with AiBtl for their CNS drugs for Major Depressive Disorder and ADHD, covering clinical trial, registration, manufacturing, supply and distribution rights. Each received 23 million AiBtl shares, giving the Company 58.85% group ownership and control. Each is eligible for $3,500,000 in milestone payments and royalties of 5% of net sales, up to $100 million.

Revenue comes from collaborative and out-licensing arrangements (upfront license fees, milestones, R&D reimbursement and royalties) and from research and development services, also described as CDMO services, which can include active pharmaceutical ingredient supply and IND/NDA/ANDA/510K submissions. No royalty revenue has been received to date. In 2024, two major licensees accounted for 58% and 39% of revenue, and no license payments were received in 2025. Clinical trials are being conducted at institutions including Stanford University, UCSF and Cedars-Sinai Medical Center. The Company has cash held in the U.S. and Taiwan, including restricted cash in a Taiwan reserve account.

For 2025, the Company reported a net loss of $8,376,959, a working capital deficit of $3,662,633 and operating cash outflows of $2,986,299. These raise substantial doubt about its ability to continue as a going concern. Management plans to improve operations and raise capital through private or public offerings, bank financing in the U.S. and Taiwan, or support from related parties and shareholders. The text does not describe suppliers, manufacturing facilities, competitors or headquarters.