RYET to Enter Malaysian Healthcare Through Exclusive Cogni AI License to BioNexus Gene Lab
Key Highlights
- ➤RYET grants BGLC exclusive Malaysian healthcare Cogni AI license for up to 20 years
- ➤RYET receives 10% royalty on qualifying technology receipts, without minimum guaranteed revenue
- ➤BGLC issues RYET 410,000 shares valued at US$3.5 million contractually
- ➤RYET receives 150,000 additional BGLC shares for 500,000 new RYET shares
- ➤Transaction remains subject to testing, approvals and potential PRC export licensing
Expert Statements
Maggie Fu, Chief Executive Officer of Ruanyun Edai Technology Inc.
“Healthcare runs on records, and reading, checking and organizing records is what Cogni AI was designed to do”
Maggie Fu, Chief Executive Officer of Ruanyun Edai Technology Inc.
“Malaysia is investing to bring its health records online, and this agreement would give us a local partner with a shared stake in making Cogni AI work there. That is the Formind Group idea: take technology we have built and deployed in one industry and put it to work in the next, with partners who know the local market.”
Sam Tan, Chief Executive Officer of BioNexus Gene Lab Corp.
“Much of Malaysia’s public healthcare record-keeping is still paper-based”
Sam Tan, Chief Executive Officer of BioNexus Gene Lab Corp.
“Cogni AI, already deployed in China, would give us an engine for turning paper records into structured, checkable data, hosted in Malaysia under Malaysian rules. We plan to start in healthcare, and the agreement would let us take the platform into other industries in Malaysia as opportunities arise.”
KUALA LUMPUR, Malaysia, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Ruanyun Edai Technology Inc. (NASDAQ: RYET) (“RYET” or the “Company”) today announced that it has signed a definitive agreement under which, on closing, RYET would grant BioNexus Gene Lab Corp. (NASDAQ: BGLC) (“BGLC”) an exclusive license of its Cogni AI document-intelligence platform for healthcare in Malaysia, together with a reciprocal share exchange. The agreement would take Cogni AI into a new industry and a new market outside China. RYET would be entitled to a 10% royalty on qualifying technology receipts collected by BGLC and its affiliates and would receive 560,000 BGLC shares at closing, 150,000 of them in exchange for 500,000 new RYET ordinary shares, giving it a direct stake in the partner that would take its technology to market.
The agreement comes as Malaysia accelerates the digitalization of its public healthcare system. In his National Day address on August 30, 2026, Prime Minister Anwar Ibrahim announced a RM1 billion allocation to accelerate healthcare digitalization involving 150 hospitals and 2,000 health clinics, and the Health Minister has said the additional funding will allow the Ministry of Health to expand and accelerate its electronic medical records system. In July, a deputy director of the ministry’s Digital Health Division said only about 10% of the public healthcare ecosystem had been brought online and that the ministry aims for a fully digital, patient-centered healthcare system within five to ten years. Neither RYET nor BGLC is a party to, or has been awarded any contract under, these government programs, and Cogni AI is not an electronic medical records system. The license would cover healthcare in Malaysia generally, and any public-sector business would depend on separate procurement.
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