BGLC 8-K
BioNexus Gene Lab Corp (BGLC)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 7.01 Regulation FD Disclosure
On August 27, 2024, BioNexus Gene Lab Corp. (the “Company”) issued a press release announcing the successful co-investment by the Malaysian Ministry of Finance, through the Securities Commission Malaysia under its Malaysia Co-Investment Fund (MyCIF), into Ascension Innovation Sdn Bhd (“AISB”). This co-investment, alongside the Company’s recent RM 1 million investment in AISB, underscores significant confidence from the Securities Commission in AISB’s innovative technology and its potential to revolutionize healthcare through sustainable practices. It brings the total investment funding in this round to RM 1.7m (approx. USD 390k).
The MyCIF co-investment, of which AISB is the first recipient, is part of the Environmental & Social Impact (ESI) scheme, which aims to support micro, small, and medium enterprises (MSMEs) with impactful solutions in obtaining funding through alternative channels. The co-investment will assist AISB in advancing its AI-driven healthcare solutions and contribute to the “One Patient, One Record” initiative under Malaysia’s National Electronic Medical Records (EMR) Plan, aiming to modernize the nation’s healthcare infrastructure.
The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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| Cover Page Interactive Data File (embedded within the Inline XBRL Document) |
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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.
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Date: August 28, 2024 | By: | /s/ Su-Leng Tan Lee |
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| Name: Su-Leng Tan Lee Title: Chief Executive Officer | |
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EXHIBIT 99.1
BioNexus Gene Lab Corp. Announces Successful Securities Commission of Malaysia (MyCIF) Co-Investment in Ascension Innovation Sdn Bhd
KUALA LUMPUR, August 27th, 2024 – BioNexus Gene Lab Corp. (NASDAQ: BGLC), an emerging leader in genomic diagnostics and personalized medicine, is pleased to announce the successful co-investment by the Securities Commission of Malaysia under its Malaysia Co-Investment Fund (MyCIF), into Ascension Innovation Sdn Bhd (AISB). This co-investment, alongside BGLC's recent investment, the first under its Environmental & Social Impact (ESI) Scheme shows confidence in the strategic direction and potential of AISB.
AISB, a pioneering healthcare technology company, has become the first issuer to receive investment under the Environmental & Social Impact (ESI) scheme, part of the broader MyCIF initiative. This scheme, designed to support small and medium enterprises (MSMEs) with impactful solutions, aligns perfectly with AISB’s mission to revolutionize healthcare through innovative, sustainable practices.
Sam Tan, Chief Executive Officer of BioNexus Gene Lab Corp., commented, “We are honored to have the Securities Commission Malaysia through it’s MyCIF Fund, co-invest in Ascension Innovation Sdn Bhd. This collaboration is not only a testament to the robust potential of AISB’s technology but also reflects the confidence in our strategic investment decisions. The support from MyCIF will significantly bolster AISB's efforts to advance the ‘One Patient, One Record’ initiative under Malaysia's National Electronic Medical Records (EMR) Plan, a critical step towards modernizing the nation’s healthcare infrastructure.”
The co-investment will empower AISB to accelerate the deployment of its AI-driven healthcare solutions, particularly through its flagship platform, aiCMS. This platform is designed to integrate predictive analytics and generative AI to enhance clinical management and patient care across Malaysia.
“This investment partnership represents a milestone in our collective vision to create a more sustainable, efficient healthcare system,” said Andrew Teng, CEO of Ascension Innovation Sdn Bhd. “We are committed to leveraging this support to achieve our goals and contribute meaningfully to Malaysia's healthcare transformation.”
The MyCIF investment is a significant milestone for AISB and BGLC, reflecting the growing importance of sustainable and impactful healthcare innovations in the digital age, bringing the total investment in this round to RM1.7 million (approx. USD 390k).
About BioNexus Gene Lab Corp.
BioNexus Gene Lab Corp. (NASDAQ: BGLC) is an emerging leader in RNA-based genomic diagnostics, committed to advancing personalized medicine and improving global health outcomes.
For more information, visit www.bionexusgenelab.com.
About Ascension Innovation Sdn Bhd
Ascension Innovation Sdn Bhd is a leading healthcare technology company focused on innovative AI-driven solutions. Visit www.aisb.io for more details.