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A clinical-stage biopharmaceutical company dedicated to developing treatment solutions in oncology/hematology, neurology, and ophthalmology, today announced that one of its subsidiaries, AIBTL BioPharma Inc. (AIBL), has signed an agreement to exchange 100% ownership of certain real estate for 1,533,333 AIBL shares per share at a price of $5 per share. According to third party valuations, the property is worth approximately $7.6 million.

“We are very pleased that AIBL has reached this agreement and valuation. ABVC and its subsidiary BioLite, Inc., each own 23 million AIBL shares, and we believe this agreement will add hundreds of millions of dollars in additional value to these assets. We also think this deal proves why ABVC's current market cap of $12 million is undervalued by several orders of magnitude,” said ABVC CEO Dr. Uttam Patil. He further stated, “Real estate values usually increase over a long period of time. Owning this land will enable AVBC and AIBL to save costs in the future by growing plants and maintaining quality by owning farms with controlled conditions, which is critical to our medicines. The cost of manufacturing our medicines will be reduced, providing a more cost effective way to bring our products to market.”

AIBL CEO Russman Jaimes said, “AIBL aims to improve shareholder rights by investing in real estate directly linked to healthcare and our products.” He added, “The real estate will be used to build farms with controlled conditions to grow crops related to ABVC botanicals. This will help ABVC reduce the production costs of the drug being studied and facilitate its clinical research at a much lower cost than purchasing raw materials on the market. Part of the real estate will be used to develop rehabilitation centers for the elderly. This development is critical for ABVC, AIBL's main shareholder, to cut costs and increase revenue.”