ABVC BioPharma(US:ABVC) Newsfilter·2024-03-21 12:30Core Insights - ABVC BioPharma, Inc. announced that its subsidiary AiBtl BioPharma Inc. has entered into an agreement to exchange a 100% ownership stake in certain real estate for 1,533,333 shares of AIBL stock at $5 per share, with the property valued at approximately $7.6 million [1][2] Group 1: Company Developments - The agreement is expected to add several hundred million dollars in value to ABVC's assets, which currently have a market cap of $12 million, indicating that the company is significantly undervalued [2] - The real estate will be utilized to establish controlled-condition farms for growing botanicals, which will help reduce manufacturing costs for ABVC's drug products and facilitate clinical studies at a lower expense [2][3] - A portion of the real estate will also be developed into a senior citizen rehabilitation center, contributing to cost savings and revenue generation for AIBL's major shareholder, ABVC [2] Group 2: Company Overview - ABVC BioPharma is a clinical-stage biopharmaceutical company with an active pipeline of six drugs and one medical device (ABV-1701/Vitargus®) under development [3] - The company collaborates with renowned research institutions, including Stanford University and Cedars-Sinai Medical Center, to conduct proof-of-concept trials through Phase II of clinical development [3] - For its medical device, Vitargus®, ABVC intends to conduct global clinical trials through Phase III [3]