BioNexus Gene Lab Corp. Agrees to Invest RM 1.2 million in Ascension Innovation (AISB) to Advance Digital Health Innovation through AI adoption in Healthcare

KUALA LUMPUR, Malaysia, April 19, 2024 (GLOBE NEWSWIRE) -- BioNexus Gene Lab Corporation (NASDAQ: BGLC), a global leader in genomic diagnostics and healthcare technology, announces a strategic investment by its wholly owned subsidiary, MRNA Scientific Sdn Bhd, in Ascension Innovation Sdn Bhd (AISB), a privately held Malaysian company. This investment underscores BGLC’s commitment to advancing healthcare solutions through cutting-edge AI and predictive analytics.

Background:

• MRNA Scientific Sdn Bhd:
  • A wholly-owned subsidiary of BGLC, MRNA Scientific specializes in blood-based genomic screening and dynamic genome profiling.
    MRNA’s innovative techniques enable early disease detection, personalized health management, and AI-driven insights.
    
• Ascension Innovation Sdn Bhd (AISB):
  • AISB is a trailblazer in healthcare technology, committed to enhancing patient experiences and outcomes.
  • Their flagship platform, aiCMS, empowers clinics, physicians, and patients to have better control over healthcare delivery through personalized patient health management.
    

Strategic Investment and Handover Ceremony:

• MRNA Scientific’s investment of RM 1.2 million (approx. USD $250k) will occur in two tranches. The Company has made an initial payment of approx. RM 100k, to be followed by a final payment of RM 1.1million, subject to a formal agreement. Our investment in AISB signifies a strategic move to accelerate healthcare innovation. The investment, funded internally, is expected to constitute an indicative equity of approximately 10% of the ordinary shares in AISB upon completion.
  
• The infusion of capital will further AISB’s development and accelerate its AI rollout, including:
  • AI Assistance in the Clinic and on-App: The AI features include the integration of predictive and generative AI note taking/analysis and diagnosis aids via Large Language Model (LLM), voice transcription, and natural language assistance for service selection and bookings.
  • Predictive Analytics and Personalized Solutions: aiCMS will enhance early disease detection and personalized health recommendations in clinic and on-app, with the integration of in-app predictive health and wellness recommendations, medical translation services, and AI medical image analysis.

Ceremony Participants: