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ABVC Biopharma Stock Price Gains 20% as Lucidam Deal Hits the Market

Updated: 15 Oct 2021

The stock price of ABVC Biopharma (NASDAQ: ABVC) made further gains in Friday trading, extending weekly gains by a further 20%. The clinal-stage biopharmaceutical company recently announced an exciting venture agreement with Tokyo-based Lucidam, a private investment firm.

The news has had a trickle effect on the market, with a slight delay on the expected bull rush, seeing gains increase dramatically 2-3 days after the initial news release. Whether investors were skeptical, cautious, or just late to the party, it’s a different story in premarket trading today – the venture deal is starting to fuel the fires of ABVC, currently holding gains of just under 20%. 

Details of the agreement include calls for business development collaboration through Lucidam affiliate BioLite Japan. BioLite will aim to identify early-stage opportunities in the drug development space as well as digital health and technological innovation in medical devices. 

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As far as ownership is concerned, ABVC will maintain equity ownership of BioLite Japan at 49%, with Lucidam holding the other 51%. 

It isn’t that surprising that investors took to this deal with vigor, regardless of a slight delay. The partnership has the potential to drive innovation in this space, whilst creating a cohesive corporate frame that serves ABVC’S best interests. 

CEO of ABVC, Dr. Howard Doong speaks on the fruitful potential of the partnership:

“This joint venture should allow us to further ensure access to additional early-stage product candidates that we otherwise would not have access to without this partnership. Dr. Seo has a distinguished career in healthcare and business in Japan and Asia and will play a significant role in expanding our pipeline at an accelerated pace.”

The ABVC Pharma stock price is pushing the $3 mark entering into Friday’s market open, recoding gains of over 25%.

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