UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement
On August 23, 2024, BioNexus Gene Lab Corp. (“BGLC” or the “Company”), through its wholly-owned subsidiary, MRNA Scientific Sdn Bhd, finalized its strategic investment in Ascension Innovation Sdn Bhd (“AISB”), a Malaysian-based healthcare technology company. The investment, totaling RM 1 million (approximately USD 228k), was made to acquire a significant equity stake in AISB.
The funds were used to subscribe to 10,758 units of Ordinary Shares in AISB. This strategic investment is aimed at accelerating AISB’s development and deployment of its AI-driven healthcare solutions, particularly through its aiCMS platform, which integrates predictive analytics and generative AI tools for enhanced patient care.
The full terms and conditions of the investment are set forth in the Shareholders Agreement dated August 23, 2024, between MRNA Scientific Sdn Bhd and Ascension Innovation Sdn Bhd, among other parties. This agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure
On August 26, 2024, the Company issued a press release announcing the closing of its RM 1 million (Approx. USD 228k) investment in Ascension Innovation Sdn Bhd. The press release highlights the strategic importance of the investment in expanding BGLC’s presence in the digital health sector and enhancing its genomic screening services through collaboration with AISB. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 8.01 Other Events
The Company believes that this investment will significantly enhance its ability to expand the market reach of its blood-based genomic screening services by integrating them into AISB’s digital health platforms. The collaboration is expected to create new synergies between BGLC’s expertise in genomic diagnostics and AISB’s innovative AI-driven healthcare solutions, ultimately benefiting healthcare providers and patients.
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Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BioNexus Gene Lab Corp. |
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Date: August 26, 2024 | By: | /s/ Su-Leng Tan Lee |
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| Name: Su-Leng Tan Lee Title: Chief Executive Officer | |
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