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(RTTNews) - ABVC BioPharma, Inc. (ABVC) announced on Thursday that it has signed a definitive agreement with Senior Paradise, Inc. also known as SPI to license its healthcare-related expertise known as 'Know-How'.

SPI, which is a real estate developer specializing in the healthcare sector for senior care, will also be leasing certain properties from ABVC, referred to as the 'Land', for further development in the healthcare industry.

As per the agreement, SPI will pay ABVC $3 million as the license fee for the Know-How, in either cash or stock and additionally offer royalties of 2% on revenues generated from projects on the Land.

The company believes that the integration of ABVC's Know-How and Land with SPI's capabilities is expected to lead to significant success in SPI's healthcare-related initiatives on the Land.

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