Abvc signs term sheet to acquire real estate assets for strategic investments

Fremont, ca, july 26, 2023 (globe newswire) -- via newmediawire – abvc biopharma, inc. (nasdaq: abvc) ("company"), a clinical-stage biopharmaceutical company developing therapeutic solutions in oncology/hematology, neurology, and ophthalmology, announced today that it has signed a term sheet to advance a partnership with zhonghui united technology (zhonghui) group co., ltd. and its affiliated enterprises. the partnership contemplates a planned acquisition of real estate assets via an equity transfer, estimated at $7.4 million, all to advance the development of a large-scale health and wellness base in chengdu, china.
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