BioNexus Gene Lab Corp. (BGLC) has entered into a non-binding Strategic Partnership Term Sheet with Canadian biopharmaceutical company BirchBioMed Inc. As part of the proposed collaboration, BGLC would lead Birch's upcoming USD $10 million financing round through a strategic equity investment. The agreement includes BGLC issuing common shares representing 4.99 percent of its outstanding common shares to Birch, while Birch would issue 1.5 million of its own common shares to BGLC. The partnership aims to accelerate the commercialization of Birch's FS2 topical platform in Southeast Asia, leveraging BGLC's market access and infrastructure.
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