ABVC BioPharma announced that its wholly owned subsidiary, BioKey, is in the second year of a 3-year agreement to manufacture dietary supplements derived from the Maitake mushroom in tablet and liquid forms. BioKey is set to receive $1.0M from Define Biotech amid increasing interest in mushroom-based nutritional supplements. This agreement marks the second year of a partnership that grants Define Biotech the right to distribute the nutritional supplement containing Maitake mushrooms in China and Taiwan. ABVC‘s scientific expertise in clinical trials has resulted in the extraction of Maitake mushroom ingredients with superior purity and consistency compared to competitors. The production of dietary supplements represents a viable revenue stream for ABVC BioPharma as they conduct clinical trials for their other drug candidates.
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