On October 20, 2025, BioNexus Gene Lab Corp. (Nasdaq: BGLC) announced today that it has entered into a non‑binding Strategic Partnership Term Sheet with Canadian biopharmaceutical company BirchBioMed Inc. The term sheet outlines BGLC’s intent to lead Birch’s upcoming USD $10 million financing round through a strategic equity investment and to collaborate on accelerating the commercialization of Birch’s FS2 (kynurenic acid) topical platform in Southeast Asia.
Under the proposed terms, BGLC would provide the equity capital and leverage its regional market access and infrastructure to support Birch’s FS2 topical cream, which targets dermal fibrosis and scarring. The partnership is designed to combine BGLC’s established clinical expertise in Southeast Asia with Birch’s novel regenerative science, creating a potential new revenue stream in the rapidly growing regenerative medicine market. The term sheet is non‑binding except for exclusivity and confidentiality provisions, which are binding for 60 days from execution.
CEO Sam Tan emphasized that the collaboration "reflects our commitment to partnering with leading biotech innovators to bring clinically validated therapies to Asia in a capital‑efficient manner," while Birch’s CEO Mark S. Miller noted that BGLC’s infrastructure would provide an ideal foundation to accelerate access to the FS2 platform. The agreement does not guarantee a definitive deal, but it signals a strategic pivot for BGLC toward regenerative therapeutics and expands its portfolio beyond diagnostics and industrial chemicals.
The exclusivity and confidentiality clauses mean that BGLC and Birch will not disclose details of the partnership beyond the 60‑day period, and no assurance is given that a definitive agreement will be executed. Nonetheless, the announcement marks a significant step in BGLC’s transformation strategy, potentially opening a new high‑margin market segment for the company.
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