ABVC BioPharma, Inc. announced that it signed a definitive agreement to license certain of its healthcare-related expertise (Know-How) to Senior Paradise, Inc. (SPI), who will also lease certain of the company's properties (the Land) for further development related to the healthcare industry. The lease, SPI may build a long-term care center for the elderly, plant factories, and good agricultural practices (GAP) for botanical drug products and dietary supplements. ABVC agrees to grant SPI a license to use the Know-How for the healthcare industry.

Specifically, ABVC's Know-How will be strategically applied to develop the Land. The Company believes that by integrating its Know-How and Land with SPI's abilities, SPI's healthcare-related endeavors on the Land may achieve tremendous success. Under the agreement, SPI shall pay ABVC $3 million as the license fee for the Know-How, in cash or stock, and royalties of 2% on SPI's revenues earned from projects on the Land.

The Land can be repurposed for commercial or residential development, which believe will allow ABVC to maximize its value.