BioNexus Gene Lab Corp. filed a registration statement on Form S‑3 with the SEC on November 10, 2025, to register up to $100 million of securities and to establish an at‑the‑market (ATM) program that can issue up to $20 million of common stock. The filing is not yet effective, but the company intends to use the program to support growth initiatives, including the launch of its VitaGuard MRD platform and the execution of a term sheet with BirchBioMed.
The $100 million shelf registration and $20 million ATM program give BioNexus a flexible capital structure that can be tapped as needed, reducing dilution and providing liquidity for future investments. The financing is aimed at accelerating the company’s pivot toward precision diagnostics and biotech manufacturing, a strategy that has been central to its recent partnership with Fidelion Diagnostics for the exclusive commercial rights to the VitaGuard MRD liquid‑biopsy platform in Southeast Asia and a non‑binding term sheet with Canadian regenerative‑medicine firm BirchBioMed to lead a $10 million financing round for the FS2 topical platform.
BioNexus’s financial health underscores the urgency of the new financing. The company’s cash burn rate is high, and an independent rating agency has classified its financial health as “WEAK.” Despite a strong current ratio of 3.63, the rapid depletion of cash reserves means that the shelf registration and ATM program are critical to maintaining operations and funding the development of its precision‑diagnostics pipeline.
The company’s subsidiaries—MRNA Scientific Sdn. Bhd. and Chemrex Corporation Sdn. Bhd.—play key roles in the expansion strategy. MRNA Scientific focuses on mRNA‑based therapeutics, while Chemrex develops contract‑manufacturing services for biologics. The new capital will support these subsidiaries’ growth, particularly in scaling the production of the VitaGuard MRD platform and advancing the BirchBioMed partnership in Southeast Asia.
CEO Sam Tan emphasized that the new financing “provides the structural capital readiness to support execution as our growth and operating initiatives progress toward key milestones.” He added that the combination of strategic partnerships and capital flexibility positions BioNexus to accelerate its transformation into a next‑generation biotechnology platform serving both Asian and U.S. markets.
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