Kensana Health Secures US$120 Mln Investment Deal With GEM Ahead Of Planned Nasdaq Listing

KUALA LUMPUR, Sept 22 (Bernama) -- Kensana Health Inc (Kensana) announced it has inked a share subscription facility of up to US$120 million with Luxembourg-based alternative investment group GEM Global Yield LLC SCS (GEM), signalling a major financial boost as the company eyes a public listing. (US$1=RM4.20)

According to a statement, the agreement gives Kensana access to the capital over a 36-month period following its anticipated NASDAQ debut, expected in the second quarter of 2026.

The facility allows Kensana to draw funds at its discretion, issuing shares to GEM at 90 per cent of the average daily closing price during a 30-day pricing window.

Kensana retains control over the timing, size, and pricing of drawdowns, with the option to set a floor price to protect its valuation. GEM, a long-only investor, has agreed not to engage in short selling or hedging against Kensana’s stock.

Kensana founder, Ken Clement said the funding validates confidence in the company’s phytopharmaceutical platform, which leverages artificial intelligence (AI) to develop plant-based drugs.

Clement stated that the world is shifting toward natural medicines, and Kensana is positioned to lead this transformation.

The company’s lead candidate, KV23A, has shown promising results in white-label trials, according to peer-reviewed studies, supporting its push into Food and Drug Administration (FDA) drug approval pathways.

Kensana says the share subscription facility will complement its broader fundraising strategy as it advances clinical development and ramps up for public market entry.

This move highlights growing investor appetite for biotech firms that blend traditional medicine with next-gen tech—particularly in the post-pandemic era's natural health boom.

-- BERNAMA