ABVC BioPharma and its Subsidiary Receive $460M From AiBtl BioPharma as the First Milestone Payment of Global Licensing Fees
The agreement between the Company and AiBtl placed a value of $460 ($10 per share) on such payment.
- The agreement between the Company and AiBtl placed a value of $460 ($10 per share) on such payment.
- According to the terms of the agreement, AiBtl delivered 46M shares to the Company as the first milestone payment.
- He continued, "After this licensing payment, AiBtl becomes a subsidiary of ABVC, which holds 57% of the consolidated shares of AiBtl; accordingly, AiBtl is now also considered a related party.
- “We believe this milestone payment marks the beginning of ABVC's revenue generation through licensing deals and opens new avenues that could potentially increase ABVC's revenue.