ABVC BioPharma has received a $100,000 licensing payment from ForSeeCon Eye Corporation, marking continued progress in their global licensing agreement for the innovative vitreous substitute Vitargus®. This payment brings ABVC's total cash receipts from the deal to $495,000, with an additional $3,005,000 in potential future cash payments still available.
The comprehensive licensing structure includes $30 million in equity consideration delivered through 5 million ForSeeCon shares, $3.5 million in total cash licensing payments, and up to $60 million in sales royalties based on 5% of net sales if Vitargus® reaches commercialization. This blended approach provides both near-term liquidity and long-term revenue potential for ABVC BioPharma.
Vitargus® represents a significant advancement in ophthalmic surgery as the world's first biodegradable vitreous substitute designed for retinal detachment procedures. Unlike current silicone oil or gas bubble solutions, the product is naturally absorbed and allows patients to maintain upright vision during recovery, eliminating the need for prolonged face-down positioning that characterizes existing treatments.
The commercial potential for Vitargus® is substantial given market growth projections. According to Verified Market Reports, the global vitreous substitute market was valued at approximately $2.5 billion in 2024 and is projected to reach $4.1 billion by 2033, expanding at a compound annual growth rate of 6.3%. The broader retinal surgery devices market, where Vitargus® would be positioned, was estimated at $2.82 billion in 2024 and is expected to grow to $4.76 billion by 2030 at a CAGR of 9.2%, as reported by Grand View Research.
Dr. Uttam Patil, ABVC's Chief Executive Officer, stated that the milestone payment highlights the continued progress of the Vitargus® licensing collaboration. The company believes it is strategically positioned to capture both near-term financial benefits and long-term commercial upside through this partnership. Jerry Chang, CEO of ForSeeCon Eye Corporation, added that the payment reflects confidence in the product's regulatory and commercial trajectory.
The agreement strengthens ABVC's financial and strategic foundation in ophthalmology while addressing the multi-billion-dollar global market for retinal disease treatments. The retinal disorder treatment market represents a significant opportunity, with industry analysis indicating substantial growth potential in this therapeutic area.
