Virax Biolabs Group Ltd

Virax Biolabs Group Ltd. announced that its China subsidiary, Shanghai Xitu Consulting Co., Ltd., has entered into non-exclusive distribution agreements with three Chinese companies: AmyJet Scientific Inc., Jiangsu Real-Gen Biotechnology Co., Ltd., and Zhixi (Shanghai) Biotechnology Co., Ltd. These agreements are for Virax's ImmuneSelect research-use immune profiling products and establish distribution routes across six mainland Chinese markets, including major biotech hubs. The distributors will handle local sales and customer engagement, while Virax will provide product supply and technical support. This strategy aims to expand commercial reach in China efficiently.

Virax Biolabs Group Ltd. announced a restructuring of its senior management to streamline operations and reduce costs, which includes eliminating the Chief Operating Officer role. Consequently, Dr. Nigel McCracken's position as COO has been made redundant, with his employment ending on December 23, 2026, though he will continue as a director. Dr. McCracken will receive statutory redundancy pay and payment in lieu of notice. Concurrently, Clement Monteil has been appointed Acting Chief Scientific Officer for a six-month term.

Virax Biolabs Group Ltd announced an Extraordinary General Meeting (EGM) to be held on August 14, 2026. Shareholders will vote on a proposal to significantly increase the company's authorized share capital from US$50,000 to US$12,500,000, by creating 498,000,000 new ordinary shares. This increase is intended to support the company's basic financing needs and potential business development transactions. Additionally, shareholders will consider adopting an amended charter to reflect this capital increase. The Board of Directors unanimously recommends that shareholders vote in favor of all proposals.

Virax Biolabs Group Ltd's CEO provided a shareholder update, highlighting the company's fiscal 2026 financial position with $6.4 million in cash and $7.3 million in shareholders' equity. The company announced a significant commercial supply agreement with Fosun Diagnostics for ImmuneSelect in six Southeast Asian markets and successfully raised $3.3 million through preferred investment options. Additionally, Virax Biolabs regained compliance with Nasdaq's minimum bid price requirement, strengthening its market position and liquidity.

Virax Biolabs Group Limited secured approximately $3.3 million in gross proceeds by inducing a holder to exercise existing warrants for 548,000 ordinary shares at a reduced price of $6.00 per share. As an inducement, the company issued new unregistered Series A and Series B Preferred Investment Options to purchase up to an aggregate of 1,644,000 ordinary shares. The proceeds will be used for working capital and general corporate purposes, with H.C. Wainwright & Co. acting as the exclusive placement agent.

Virax Biolabs Group Limited announced that its subsidiary, Virax Biolabs (UK) Limited, has entered into an exclusive multi-country commercial supply agreement with Fosun Diagnostics. This agreement covers six Southeast Asian markets for Virax's ImmuneSelect research-use immune profiling product line. The partnership establishes a framework for immediate product supply via purchase orders, supporting near-term revenue opportunities and regional commercial expansion. This is considered a significant commercial milestone, providing access to key markets through a leading regional diagnostics organization.

Virax Biolabs Group Limited announced a 1-for-25 share consolidation, effective June 26, 2026. This action was approved by the board of directors and previously by shareholders to enable the company to regain compliance with Nasdaq's minimum bid price requirement of $1 per share. The consolidation will result in every twenty-five existing ordinary shares being combined into one new share, with fractional shares rounded up.

Virax Biolabs Group Ltd held its Extraordinary General Meeting of Shareholders, which was initially adjourned due to a lack of quorum. The meeting was reconvened on June 12, 2026, where shareholders approved two key proposals. These included a share consolidation on a basis of one (1) share for every ten (10) to thirty (30) outstanding ordinary shares, and the adoption of an amended and restated memorandum and articles of association to reflect the revised authorized share capital.

Virax Biolabs Group Limited reported positive early pilot performance data for ViraxImmune , its blood-based test in development for Long COVID, ME/CFS, and related post-acute infection syndromes (PAIS). The test demonstrated 88% specificity and 92% positive predictive value (PPV) in the pilot dataset, showing measurable separation between PAIS patients and healthy controls. ViraxImmune has been evaluated in over 120 subjects in an ongoing UK clinical study, and the company is preparing for a larger clinical validation analysis involving 300 additional participants, with results expected in Q1 2027. The findings support Virax's strategy for U.S. market entry via an initial PAIS-focused Laboratory Developed Test (LDT) route.

Virax Biolabs Group Ltd. announced an Extraordinary General Meeting (EGM) on June 5, 2026, for shareholders to vote on a proposed share consolidation. The consolidation, at a ratio between 10-for-1 and 30-for-1, aims to help the company regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share by the July 11, 2026 deadline, thereby preventing delisting. Shareholders will also consider adopting an amended memorandum and articles of association and an adjournment proposal, all of which the Board unanimously recommends approving.