Nexalin forms JV with Wider Come to commercialize tACS devices in Asia; Wider funds ops and 4 trials

Nexalin Technology, Inc.

JV ownership: Wider 52%, Nexalin 48%; will market Gen-2 tACS devices in China and Asia Pacific.
Wider to fund all JV operating expenses for 12 months, then pro rata funding.
Wider obligated to fund and conduct four clinical trials (insomnia, depression, other) using Gen-2 devices.
Previously Wider was an authorized distributor; role now expanded to include clinical development.
NMPA approval for insomnia and depression already in place for tACS device.

item 1.01 item 9.01

Key facts

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nexalin Technology, Inc. entered into Joint Venture Agreement with Wider Come Limited (effective 2023-05-31).

Action: entry
Agreement: collaboration
Counterparty: Wider Come Limited
Effective: 2023-05-31

Exact text from the filing

On May 31, 2023, Nexalin Technology, Inc. (the “Company”) formalized an agreement related to the formation of a joint venture

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Source: SEC EDGAR

accession 0001829126-23-003881

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