MIRXES-B (02629) announced that on October 6, 2025, its wholly-owned subsidiary Mirxes International Holding Limited entered into a joint venture agreement with Xeraya Opportunities Fund PCC Limited (Xeraya) to establish a joint venture company MYRNA DIAGNOSTICS SDN. BHD. The joint venture will be held 40% by Mirxes International Holding Limited and 60% by Xeraya. The company and Xeraya agree to inject approximately $2 million and $3 million in cash respectively into the joint venture's registered capital according to their respective shareholding proportions.

The purpose of establishing the joint venture is to conduct research, development, commercialization, and obtain regulatory approvals for cancer early detection and other nucleic acid-based testing in Malaysia.

Malaysia, as a middle-to-high income diversified economy with a population exceeding 35 million, is facing an increasingly severe cancer burden. In 2022, the country recorded approximately 51,650 new cancer cases and 31,633 cancer deaths (Global Cancer Observatory, 2022). Notably, in Malaysia, more than 60% of cancer cases are diagnosed at late stages (Stage III or IV), severely limiting patient survival outcomes and placing a heavy burden on the national healthcare system (National Strategic Plan for Cancer Control Programme, 2021–2025).

Malaysia's cancer incidence rate is estimated to rise by more than 70% by 2050 (Global Cancer Observatory, 2022), yet early detection remains a critical unmet urgent need, particularly for high-incidence cancers such as lung, colorectal, breast, liver, and gastric cancers, which collectively account for nearly 50% of total cases.

Through establishing a strategic joint venture with Xeraya, leveraging its strong regional life sciences and healthcare expertise, deep operational foundation, and extensive network in Malaysia, the company aims to:

(i) Establish Malaysia's leading cancer omics platform, based on the company's advanced miRNA-centered multi-omics technology platform and proven blood-based cancer early detection solutions, to address Malaysia's unmet critical clinical needs in cancer early detection and precision medicine;

(ii) Build a robust and localized professional omics testing business in Malaysia, expanding the scale of existing clinical business through localized testing services, improving turnaround time and cost-effectiveness for existing customers, accelerating business collaboration expansion and entering new market segments including public healthcare institutions;

(iii) Leverage Malaysia's thriving biotechnology and healthcare ecosystem to accelerate development of clinical pipelines including colorectal cancer, breast cancer, liver cancer, and multi-cancer detection;

(iv) Integrate the advantages of R&D and clinical operations in Singapore, China, and Malaysia to accelerate regulatory approval of in vitro diagnostics (IVDs) and deployment of innovative laboratory developed tests (LDTs);

(v) Establish a scalable regional platform, using Malaysia as a springboard for future expansion into neighboring ASEAN countries and other Asian markets, which have similar epidemiological characteristics, ethnic and genetic backgrounds, and unmet screening needs.

Furthermore, the Board of Directors believes that establishing the joint venture represents a synergistic strategic move toward the company's mission development — aimed at making early disease detection diagnostic solutions accessible globally, starting with addressing one of the most pressing healthcare gaps in Malaysia and the region.