The acquisition of the Lycopenoid Lycogen® platform by OncoX BioPharma Inc., an affiliate of ABVC BioPharma, marks a significant step forward in the development of natural compound-based therapies for oncology and other sectors. Valued at approximately USD $4.06 million, this equity-based acquisition includes patented manufacturing technology and commercialization rights, previously held by Asia-Pacific Biotech Developing Inc. (APBDI). The Lycogen® platform, known for its next-generation lycopene-analog produced through microbial fermentation, has shown preclinical promise in cancer-related and metabolic disease models due to its potent antioxidant and anti-inflammatory properties.
This strategic move is expected to unlock substantial commercial potential for OncoX across dermatology, oncology, and nutraceutical sectors. Internal forecasts suggest that cumulative revenue from the Lycogen® platform could reach USD $25–30 million over the next five years, depending on market conditions and product development milestones. ABVC BioPharma stands to benefit from this growth through royalty payments, thanks to its existing licensing framework with OncoX. This exemplifies ABVC's strategy of leveraging affiliate-driven development to achieve non-dilutive revenue growth.
The global oncology drug market, which exceeded USD $208 billion in 2023, is projected to grow to $484 billion by 2032, according to Precedence Research. Similarly, the lycopene-based ingredients market is expected to surpass $170 million by 2029. The acquisition of the Lycogen® platform positions OncoX to capitalize on the growing demand for multifunctional natural compounds in therapeutic and consumer applications, further enhancing ABVC Group's position in botanical oncology innovation.
Dr. Uttam Patil, ABVC Chief Executive Officer, highlighted the transaction's significance, stating that it strengthens the company's pipeline and demonstrates its ability to convert platform assets into monetizable growth. This acquisition is part of a broader oncology licensing deal between ABVC and OncoX, valued up to $105 million, with $25 million in equity-based consideration already received. This milestone underscores the viability of ABVC's scalable revenue model through strategic product licensing and affiliate activation.
The transaction not only enhances OncoX's commercialization capability but also reflects ABVC's long-term growth strategy of utilizing platform assets to drive clinical value and generate shareholder return through tiered partnerships. As the global demand for innovative oncology treatments and natural compounds continues to rise, this acquisition represents a forward-looking investment in the future of cancer therapy and natural health products.
