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BioNexus Gene Lab Corp. (Nasdaq: BGLC) Secures $500 Million Equity Facility From ARC Group International to Support Expansion of Precision Diagnostics, CDMO Operations, and Therapeutic Commercialization
Globenewswire· 2025-12-02 13:05
Core Insights - BioNexus Gene Lab Corp. (BGLC) has entered into a $500,000,000 Equity Purchase Agreement with ARC Group International Ltd. to enhance its capital position for strategic initiatives [1][4] - The agreement allows BGLC to issue and sell registered shares of its common stock to ARC over a 36-month period, with a one-time fee of 175,000 shares issued at a price of $4.32 [2] - The facility complements BGLC's existing $20 million At-The-Market program, providing financial flexibility while maintaining control over capital deployment [3] Advancing Precision Oncology - BGLC has executed a licensing agreement with Fidelion Diagnostics to commercialize the VitaGuard™ MRD assay, aimed at early cancer detection and monitoring [5] - The new facility will support clinical adoption and infrastructure development for MRD testing across Southeast Asia, including Malaysia, Singapore, Indonesia, and Thailand [5] Supporting CDMO Transformation - BGLC is expanding into contract development and manufacturing organization (CDMO) services, enhancing its capabilities in biologics production and high-performance diagnostics [6] - The facility will enable investments in quality systems, manufacturing capacity, and strategic partnerships aligned with global CDMO standards [6] Advancing Therapeutic Opportunities - BGLC is progressing a strategic partnership with BirchBioMed Inc. for a therapeutic candidate targeting fibrosis and skin regeneration [7] - The facility provides capital optionality to support clinical and regulatory preparations as the partnership moves forward [7] Company Overview - BioNexus Gene Lab Corp. is focused on precision medical diagnostics and expanding into contract development and manufacturing services across Southeast Asia [9] - The company is headquartered in Kuala Lumpur, Malaysia, and aims to enhance its capabilities in oncology diagnostics and biologics development [9]