Abvc acquires $2.96 million worth of land in asia with stocks priced at $3.50 per share

Fremont, ca, feb. 08, 2024 (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 signed a definitive agreement to acquire real estate in taoyuan city, taiwan. the acquisition of real estate assets, estimated at approximately $2.96 million via an equity transfer of $3.50 per share, is to develop plant factories for abvc's botanical pipeline strategically; abvc hopes the property will ultimately be used as an integrated platform for the global development of the asian healthcare business and the medical, pharmaceutical, and biotechnology industries.
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