Company: BGLC
Filing Date: 2025-11-12
Form Type: 8-K
Source: 0001477932-25-008044
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Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-12
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry into a Material Definitive Agreement.

As previously announced, on July 30, 2025, BioNexus Gene Lab Corp. (the “ Company” or “ BGLC”) entered into a non-binding term sheet with Fidelion Diagnostics Pte. Ltd. (“ Fidelion”) regarding a contemplated cross-equity strategic alliance and exclusive commercialization rights for Fidelion’s VitaGuard™ minimal-residual-disease (MRD) platform in Southeast Asia. On November 12, 2025, the Company entered into a definitive share subscription and shareholders’ arrangement with Fidelion to establish the partnership framework for VitaGuard.

On November 12, 2025, the Company entered into a Share Subscription and Shareholders’ Agreement (the “ SSSA”) by and among Fidelion, the Company, Tongshu Biotechnology (Hong Kong) Co., Limited (“ Tongshu”), Mr. Su-Leng Tan Lee, Molecule Bio LLC and Rainy Morning Technology (Hong Kong) Limited.

Pursuant to the SSSA, the Company agreed to subscribe for newly issued ordinary shares of Fidelion such that the Company will hold at least 15.0% of Fidelion’s enlarged share capital at completion, in exchange for the Company issuing to Fidelion restricted shares representing 19.9% of the Company’s outstanding common stock (pre-issuance). Completion of the SSSA is subject to specified conditions precedent, including execution of a Southeast Asia intellectual property license between the Company and Fidelion and customary corporate and third-party consents. The SSSA acknowledges, on a non-mechanical basis, a targeted post-closing fully diluted capitalization in which Tongshu would hold approximately 30% and the Company would hold approximately 15%. The agreement provides that the Company may appoint two directors to Fidelion’s board (with at least one director being a Singapore resident), Tongshu may appoint one director, and the other shareholders collectively may appoint one director, and further provides that Mr. Tan Lee Su-Leng, current Chief Executive Officer and Director of the Company, will also serve as Fidelion’s initial Chief Executive Officer. The initial quorum for board meetings requires the presence of at least one director appointed by the Company and at least one director appointed by Tongshu. Certain actions are designated as reserved matters that require enhanced approvals, including material issuances of equity or indebtedness above specified thresholds, merg