Regencell Bioscience Stock Jumps On Formation Of COVID-19 Treatment Focused Joint Venture

  • Regencell Bioscience Holdings Ltd's RGC subsidiary in Hong Kong has entered into a joint venture agreement with Honor Epic Enterprises Limited to offer COVID-19 related treatments.
  • The joint venture will cater to patients in ASEAN countries, India, Japan, Australia, and New Zealand. Regencell will own 60% of the JV with a customary drag-along option. 
  • The principal business of the JV shall be to trade, manufacture, market, and distribute Traditional Chinese Medicine (TCM) formulae products.
  • TCM has so far treated 12 patients (suspected or confirmed COVID cases) after an average treatment period of 5 days, the Company said.
  • Price Action: RGC stock is up 2.31% at $32.37 during the market session on the last check Thursday.
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