1.Date of occurrence of the event:2023/12/20
2.Counterparty to the contract or commitment: OBIGEN Pharma, Inc.
3.Relationship with the Company: OBIGEN is a subsidiary held 52% of voting shares by the Company
4.Starting and ending dates (or rescission date) of the contract or commitment:2023/12/20
5.Major content (not applicable where rescinded):
(1)To focus on the development of innovative cancer therapies and to further the development of the botulinum toxin, OBI-858, the Company’s
Board of Directors resolved on 2020/12/4 and signed the license agreement on 2021/2/23, to license the worldwide aesthetic rights of
OBI-858 to the newly incorporated subsidiary, OBIGEN Pharma, Inc. (hereafter referred to as OBIGEN), for future development. Please refer
to the Company’s material information announcement on the same date.
(2)The Board of Directors of the Company and OBIGEN resolved and signed the contract to license the worldwide therapeutic rights of OBI-858 to
OBIGEN today. By granting both rights of the aesthetic and therapeutic uses to OBIGEN, the development efficiency and commercial value of
OBI-858 will be increased. The company and the licensee will both benefit from the expanded partnership.
6.Restrictive covenants (not applicable where rescinded): No.
7.Commitment (not applicable where rescinded):
Under the terms of the agreement, OBIGEN will obtain the worldwide exclusive rights of OBI-858 for all therapeutic indications. OBIGEN will be
responsible for OBI-858’s clinical development, regulatory registration, commercialization, and the related expenses.
The Company will receive an upfront payment and future profit sharing from all therapeutic indications. OBI will disclose the financial information as
the terms of agreement achieved.
8.Any other important agreement (not applicable where rescinded): None
9.Effect on company finances and business: The markets of therapeutic and aesthetic uses of botulinum toxin are both fast growing worldwide. OBI
expects to maximize the value of OBI-858 by licensing the worldwide therapeutic rights. Both OBI and OBIGEN will benefit from the expanded
partnership, which will generate positive effect on OBI’s finances and business in the future.
10.Concrete purpose/objective: OBIGEN will obtain the worldwide exclusive rights of OBI-858 for all indications. By granting both aesthetic and
therapeutic rights to OBIGEN, the development efficiency and commercial value of OBI-858 will be increased.
11.Any other matters that need to be specified(the information disclosure also meets the requirements of Article 7, subparagraph 8
of the Securities and Exchange Act Enforcement Rules, which brings forth a significant impact on shareholders rights or the price of
the securities on public companies.):New drug development is a long process, with vast investments and no guarantee in success which may pose
investment risks. The investors are advised to exercise caution and conduct thorough evaluation.