ABVC BioPharma, Inc. (ABVC) unveiled on Thursday a solid agreement with Senior Paradise, Inc. (SPI), a real estate developer that focuses on senior care within the healthcare sector. ABVC will license its healthcare-related expertise, known as 'Know-How', to SPI.
In addition to the agreement, SPI will lease certain properties from ABVC. These properties are earmarked for further development in the healthcare industry.
According to the terms outlined in the agreement, SPI will compensate ABVC with a $3 million licensing fee for the Know-How. This payment can be made either in cash or stock. Additionally, SPI has committed to offering royalties of 2% on revenues that come from any projects located on the leased land.
ABVC is confident that this partnership, which merges their Know-How and land with SPI’s competence, will spur significant progress in SPI's upcoming healthcare-related endeavors on the leased land.
