Announcement on behalf of subsidiary, Obigen
Pharma Inc., that BOD resolved the Term Sheet for
licensing of OBI-858 in China
Date of events
2022/07/21
To which item it meets
paragraph 10
Statement
1.Date of occurrence of the event:2022/07/21
2.Counterparty to the contract or commitment:A pharmaceutical company in China
3.Relationship with the Company:None
4.Starting and ending dates (or rescission date) of the
contract or commitment:None
5.Major content (not applicable where rescinded):
The Board of Directors of Obigen Pharma Inc. has resolved to enter into the
Term Sheet for licensing of Botulinum Toxin, OBI-858, in China, Hong Kong
and Macau with a pharmaceutical company in China. The Chairman is
authorized to proceed negotiation and sign the Term Sheet. Both parties
agree to sign the eventual contract after due diligence or after the
approval of competent authority (whichever occurs later). The condition of
Term Sheet will be kept confidential temporary according to the
non-disclosure agreement.
6.Restrictive covenants (not applicable where rescinded):
The condition of term sheet will be kept confidential temporary according
to the non-disclosure agreement.
7.Commitment (not applicable where rescinded):
The condition of term sheet will be kept confidential temporary according
to the non-disclosure agreement.
8.Any other important agreement (not applicable where rescinded):
The condition of term sheet will be kept confidential temporary according
to the non-disclosure agreement.
9.Effect on company finances and business:
If the partnership proceeds successfully, conduction of clinical trials in
Taiwan and China area simultaneously will accelerate the development
process of OBI-858 and brings positive effect to the finance and business
of Obigen.
10.Concrete purpose/objective:
Negotiation of potential strategic alliance to develop, promote the
process of clinical trials, and accelerate the product launch of
Botulinum Toxin, OBI-858.
11.Any other matters that need to be specified:
New drug development requires long process, vast investments and with no
guarantee in success which may pose investment risks. The investors are
advised to exercise caution and conduct thorough evaluation.
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OBI Pharma Inc. published this content on 21 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2022 07:13:05 UTC.
OBI Pharma, Inc. is a Taiwan-based company principally engaged in the development of new pharmaceuticals. The Company mainly operates its businesses through the research and development of novel cancer and infectious disease therapies. It also develops next generation active immunotherapies to treat cancers, including lung, prostate, pancreatic, stomach and ovarian cancers. It is engaged in the development of OBI-822 (formerly OPT-822/821), an active immunotherapy new drug for metastatic breast cancer; the research and development of therapeutic vaccine OBI-833 for the treatment of new generation of cancers, as well as the development of cancer testing reagent OBI-868.
OBI PHARMA, INC. 
