Ruanyun Edai signs deal to license Cogni AI platform exclusively to BioNexus Gene Lab in Malaysian healthcare
RYET•Ruanyun Edai Technology signed a deal to license its Cogni AI platform exclusively for Malaysian healthcare to BioNexus Gene Lab. The 10-year license carries a 10% royalty on qualifying technology receipts and 410,000 BioNexus shares valued at $3.5 million.
1. License terms
The license runs for 10 years from closing and may be renewed for up to 20 years. BioNexus will issue 410,000 shares to Ruanyun Edai for the license, valued contractually at $3.5 million and to be settled in stock at closing; Ruanyun Edai will also receive a 10% royalty on qualifying technology receipts.
2. Separate share exchange
In a separate exchange with no cash consideration, Ruanyun Edai will receive 150,000 additional BioNexus shares for 500,000 new Ruanyun Edai ordinary shares. Closing is subject to conditions, and either party may terminate if the deal has not closed by March 31, 2027.
