BioNexus signs exclusive Malaysia healthcare license for Ruanyun Edai’s CogniAI platform
BGLC•BioNexus Gene Lab signed a definitive agreement for an exclusive Malaysian healthcare license to Ruanyun Edai Technology’s CogniAI platform. Consideration includes 410,000 BioNexus shares stated to be worth $3.5 million, with no cash payment; closing is pending.
1. License agreement
BioNexus plans to develop document-intelligence applications for Malaysia’s public healthcare digitalisation programme, which spans 150 hospitals and more than 2,000 clinics. At closing, BioNexus will also issue 150,000 common shares in exchange for 500,000 Ruanyun Edai ordinary shares. Ruanyun Edai will receive a 10% royalty on defined technology receipts actually collected, with no minimum royalty or annual platform fee.
