Aptorum Group Limited (APM): Business Model Canvas [Dec-2025 Updated]

You're looking to cut through the noise and see the real structure of Aptorum Group Limited (APM) after their big July 2025 DiamiR Biosciences merger, and frankly, understanding a clinical-stage biotech's engine room is never simple. As an analyst who's spent two decades stress-testing these models, I see their current play as a tightrope walk: integrating new diagnostic capabilities with a drug pipeline (like SACT-1) while relying heavily on capital raises, evidenced by their net loss of $449,295 for H1 2025. Below, we map out the nine essential building blocks-from their $21.13 million in equity as of August 2025 to their key activities-so you get a precise, no-fluff view of where the opportunity and the near-term risk truly lie.

Aptorum Group Limited (APM) - Canvas Business Model: Key Partnerships

You're looking at the structure of Aptorum Group Limited's alliances as of late 2025. These partnerships are critical for both pipeline advancement and immediate capital needs.

All-stock merger with DiamiR Biosciences (July 2025)

Aptorum Group Limited entered into a definitive agreement for an all-stock merger with DiamiR Biosciences on July 16, 2025. The transaction is anticipated to close in the fourth quarter of 2025, following Aptorum Group's re-domicile to Delaware.

The structure of the combined entity post-merger is heavily weighted toward DiamiR's equity holders.

The combined company expects to maintain its listing on the Nasdaq Stock Market and will be headquartered in Princeton, New Jersey.

Co-development with Accelerate Technologies (ASTAR's commercial arm)

Aptorum Group Limited continues its co-development work with Accelerate Technologies Pte Ltd, the commercialization arm of Singapore's Agency for Science, Technology and Research (ASTAR). This relationship centers on the development of a novel molecular-based rapid pathogen identification and detection diagnostics technology.

An earlier, related strategic investment fund established with Accelerate and Aeneas Capital was committed to a total of up to USD$90 million over five years to co-create local deep tech start-ups in healthcare and life sciences.

Financial placement agents like H.C. Wainwright & Co. for offerings

H.C. Wainwright & Co., LLC has served as a placement agent for recent financing activities designed to support operations, including expenses related to the DiamiR Biosciences merger.

The registered direct offering announced on October 10, 2025, involved specific financial metrics:

The warrants issued in the concurrent private placement are exercisable upon issuance and expire twenty-four months from the effective date of the relevant registration statement.

Academic and research institutions for licensed technologies

Aptorum Group Limited's pipeline is enriched by collaborations with leading academic institutions, which provide access to proprietary research.

To date, Aptorum Group has secured the following:

• 11 exclusively licensed technologies.
• Technologies span neurology, infectious diseases, gastroenterology, and oncology.
• Areas also include surgical robotics and natural health.

For example, an agreement was established with Yale University to evaluate and potentially in-license novel immunomodulators targeting autoimmune and oncology diseases.

Clinical research organizations (CROs) for trial execution

Aptorum Group Limited utilizes third-party Clinical Research Organizations to execute clinical trials for its therapeutic assets, though specific CRO names and associated 2025 contract values are not publicly detailed in recent filings.

Aptorum Group Limited (APM) - Canvas Business Model: Key Activities

You're mapping out the core engine of Aptorum Group Limited (APM) as of late 2025. This is where the action is, focused on moving assets through the clinic and structuring the business for the DiamiR integration.

Advancing clinical trials for lead candidates (e.g., SACT-1, ALS-4)

The primary focus remains on advancing the therapeutic pipeline. Aptorum Group Limited has two lead candidates that have reached the Phase 1 stage.

• SACT-1, a repurposed drug candidate, is in phase 1 clinical trial targeting neuroblastoma and other cancer types.
• ALS-4, a repurposed small molecule, is in phase 1 clinical trial for bacterial infections, including Staphylococcus aureus and Mycobacterium tuberculosis.
• The company completed Pre-IND discussions with the US FDA for ALS-4 in March 2023.
• The RPIDD liquid biopsy rapid pathogen diagnostic technology is currently in the preclinical trial stage.

Drug discovery and systematic screening of existing molecules

Aptorum Group Limited maintains platforms designed to generate new therapeutic assets. This activity involves leveraging existing scientific knowledge to find new treatments.

• The discovery process includes systematic screening of existing approved drug molecules.
• The company also utilizes a microbiome-based research platform for treatments of metabolic diseases.

Integrating DiamiR's blood-based diagnostic capabilities

A major activity in late 2025 centers on the definitive all-stock merger agreement with DiamiR Biosciences, announced on July 14, 2025. This is designed to integrate DiamiR's diagnostic expertise.

Here's the quick math on the deal structure:

Still, the merger is contingent on shareholder approval and other customary conditions.

Maintaining NASDAQ listing and financial compliance

A critical ongoing activity is ensuring the continued listing of Aptorum Group Limited on the NASDAQ Stock Market. The company received a non-compliance notification on April 15, 2025, regarding the minimum bid price requirement.

The company successfully addressed this by:

• Maintaining a closing bid price of at least $1.00 per share for 10 consecutive business days.
• The compliance period was met from July 16 to July 30, 2025.
• This resolved the matter before the October 14, 2025 deadline.

As of the October 10, 2025 offering announcement, the company's market capitalization stood at $12.7 million, and its Total Debt / Equity Ratio (MRQ) was reported at 24.73%.

Securing capital via registered direct offerings

Aptorum Group Limited has actively engaged in equity financing activities to fund operations, including expenses for the DiamiR merger.

The capital raising efforts in 2025 involved two distinct registered direct offerings:

The October 2025 offering included unregistered warrants to purchase up to 2,000,000 shares at an exercise price of $2.00 per share, expiring 24 months from the effective date of a resale registration statement. The company's Current Ratio was 2.98, and EPS (TTM) was -$0.33.

Aptorum Group Limited (APM) - Canvas Business Model: Key Resources

You're looking at the core assets Aptorum Group Limited (APM) relies on to execute its strategy, especially as it integrates DiamiR Biosciences. These aren't just line items; they are the engines for potential value creation, blending biopharma development with diagnostics capability. Honestly, the combination of these elements is what defines their current resource base.

The most tangible financial resource point we have is the stated equity figure, which you need to track closely. As of August 2025, the reported Total equity stood at $21.13 million. This is the book value base, but for a public company, the market's view matters too. By late 2025, the Market Cap hovered around $11.40 million to $11.48 million, depending on the specific day you check. That's a significant difference from the book equity, which is typical for pre-revenue biotechs, but something Finance needs to keep an eye on.

Here's a quick look at the balance sheet snapshot we can pull from recent filings, which gives you a clearer picture of their liquidity:

The intellectual property forms the bedrock of their therapeutic and diagnostic value. Aptorum Group Limited holds 11 exclusively licensed technologies, which is a key component of their in-licensing strategy. Furthermore, the DiamiR platform brings its own substantial protection, boasting over 50 issued patents worldwide protecting its microRNA signature analysis technology.

The proprietary drug pipeline represents the long-term upside, grounded in both oncology and infectious diseases:

• ALS-4: A first-in-class small molecule anti-virulence drug targeting Staphylococcus aureus, including MRSA.
• SACT-1: A repurposed small molecule compound that received Orphan Drug Designation from the FDA for Neuroblastoma.
• RPIDD: Part of the diagnostics projects, related to rapid pathogen identification and detection.

The acquisition of DiamiR Biosciences brings a critical operational resource into the fold: a CLIA-licensed, CAP-accredited clinical laboratory located in New Haven, CT. This facility is immediately operational and has achieved key regulatory milestones, such as receiving Clinical Laboratory Evaluation Program (CLEP) Test Approval from the New York State Department of Health for its APOE Genotyping test, allowing nationwide offering. This lab capability shifts the combined entity beyond pure R&D into commercialization-capable services.

Finally, you can't quantify expertise, but it's a vital resource. Aptorum Group Limited has built up scientific and clinical expertise specifically focused on the therapeutic areas of oncology (including orphan indications) and infectious diseases. This human capital is what drives the advancement of the pipeline assets listed above.

Finance: draft 13-week cash view by Friday.

Aptorum Group Limited (APM) - Canvas Business Model: Value Propositions

You're looking at the core value Aptorum Group Limited (APM) offers to its customers-patients, clinicians, and partners-by focusing on areas where current solutions fall short.

Novel therapeutics for diseases with high unmet medical needs

Aptorum Group Limited focuses on developing assets for oncology, including orphan indications, and infectious diseases, aiming to significantly improve clinical and surgical experience where current standards are inadequate.

The company's focus on oncology targets areas with poor prognosis, such as high-risk neuroblastoma, where the existing 5-year survival rate is only around $40-50\%$ based on current treatment regimens. The global neuroblastoma treatment market was valued at $US\$596.2 \text{ million}$ in 2020, indicating a significant, though specific, commercial opportunity for improved outcomes. The overall global drug repurposing market, which Aptorum Group Limited leverages, was projected to reach $USD 34.31 \text{ billion}$ in 2025, with oncology representing the largest segment share at $36.03\%$ in 2024.

Orphan Drug Designation for SACT-1 (neuroblastoma)

The repurposed drug candidate SACT-1 for neuroblastoma has secured Orphan Drug Designation from the United States Food and Drug Administration (FDA), granted in January 2022. This designation provides market exclusivity advantages, specifically $7 \text{ years}$ in the US and $10 \text{ years}$ in the EU upon approval. Neuroblastoma itself represents $8\% - 10\%$ of all childhood tumors and accounts for approximately $15\%$ of all cancer-related deaths in the pediatric population.

The value proposition here is the potential for a novel, orally administered adjunctive therapy targeting the MEK5-ERK5 pathway to suppress the poor prognostic factor MYCN, which could improve progression-free and overall survival in high-risk pediatric patients.

Rapid pathogen identification and detection (RPIDD) technology

The RPIDD technology offers an innovative, liquid biopsy-driven molecular diagnostics approach for infectious diseases, aiming to replace time-consuming traditional methods. Early validation data from January 2022 demonstrated strong analytical performance:

• Analytical sensitivity of spiked samples at most $100\%$.
• Analytical specificity of spiked samples at most $90\%$.
• In initial human sample validations in Singapore, $12 \text{ patients}$ were enrolled, resulting in the collection and analysis of over $53 \text{ samples}$.

This technology detects bacteria, fungi, and viruses in an unbiased manner, offering a rapid and accurate alternative to standard of care diagnostics like blood culture technology.

Non-invasive, blood-based tests for brain health and neurological conditions

Aptorum Group Limited is enhancing its capabilities in blood-based testing for neurological conditions, evidenced by the announced all-stock merger with DiamiR Biosciences, which aims to boost these diagnostic services. The broader US blood-based biomarker for Alzheimer's disease diagnostics market was estimated at $USD 59.64 \text{ million}$ in 2024 and projected to grow to $USD 66.82 \text{ million}$ in 2025, reflecting a Compound Annual Growth Rate of $14.60\%$ through 2033. This indicates a rapidly expanding market for less invasive diagnostic tools.

Capital-efficient drug discovery through drug repurposing

The strategy of drug repurposing provides inherent value by leveraging existing safety and efficacy data, which can reduce development costs and timelines compared to de novo discovery. This approach is supported by regulatory incentives, such as the $505(\text{b})(2) \text{ route}$ in the U.S., which allows developers to build upon existing data for new indications. The global market for Drug Repurposing was valued at $USD 32.96 \text{ billion}$ in 2024, projected to reach $USD 34.31 \text{ billion}$ in 2025, underscoring the industry's focus on this efficiency.

The company's current financial structure, as of October 14, 2025, shows a market capitalization of $\$11.4\text{M}$ based on a share price of $\$1.59$ and $8.14\text{M} \text{ shares}$ outstanding. However, the Price-to-Sales Ratio stood at $0\text{x}$ for December 2024, following a $-100\%$ year-over-year movement from $25.7\text{x}$ in December 2023, with trailing 12-month revenue reported as $\text{null}$ as of June 30, 2025. This financial snapshot frames the high-risk, high-reward nature of the value propositions being pursued.

The core value attributes can be summarized:

Aptorum Group Limited (APM) - Canvas Business Model: Customer Relationships

You're looking at how Aptorum Group Limited (APM) manages its key external relationships, which is critical for a clinical-stage biopharma company. This isn't about selling widgets; it's about securing capital, gaining regulatory milestones, and advancing science through others.

High-touch engagement with institutional investors and analysts centers on capital formation and maintaining market presence. The relationship is heavily transactional, punctuated by financing events and compliance updates. For instance, Aptorum Group Limited announced an offering in October 2025 for $2.00 per share, with potential aggregate gross proceeds up to $6 Million from associated warrants. This follows a $3.0 Million registered direct offering in January 2025. Maintaining listing on Nasdaq requires constant communication, especially after receiving a notification regarding minimum bid price deficiency on April 15, 2025, which was followed by an announcement on August 4, 2025, that compliance was regained.

Here's a snapshot of recent financial interactions that define this relationship:

Direct communication with regulatory bodies (e.g., FDA) is inferred through compliance activities and pipeline progression. Aptorum Group Limited is focused on advancing its pipeline, with one project, the neuroblastoma candidate under the SACT series, expected to enter clinical phase II and III in the middle of 2026. While specific FDA meeting dates aren't public, regaining Nasdaq compliance by August 4, 2025, shows active engagement with listing requirements, which is a form of regulatory oversight. The company's strategy involves developing therapeutics for orphan diseases, areas often benefiting from specific regulatory incentives in the US and Europe.

Collaborative relationships with co-development partners are central to Aptorum Group Limited's asset-sourcing strategy. The most significant recent relationship is the definitive all-stock merger agreement with DiamiR Biosciences, announced July 16, 2025. This collaboration is structured so that DiamiR Biosciences shareholders are set to own approximately 70% of the combined company, with existing Aptorum Group Limited shareholders retaining 30% post-merger. This move integrates DiamiR's blood-based diagnostics capabilities. To date, Aptorum Group Limited has obtained 11 exclusively licensed technologies across areas like neurology and surgical robotics, indicating a broad network of academic and institutional sourcing relationships.

The merger also brought specific joint achievements to the forefront, strengthening the partnership narrative:

• Abstracts accepted for presentation at the Clinical Trials on Alzheimer's Disease (CTAD) 2025 Conference on November 19, 2025.
• Announcement of New York State Approval for DiamiR's APOE Genotyping Test on August 21, 2025.
• Joint presentation at the H.C. Wainwright 27th Annual Global Investment Conference on September 5, 2025.

Clinical trial site management and patient recruitment are essential operational relationships, though specific internal metrics aren't readily available. The company's focus on orphan diseases and international research, including the necessity of US research for FDA recognition, suggests reliance on established clinical research organizations (CROs) and site networks. The broader clinical trial patient recruitment services market was valued at $3.37 billion in 2025, growing at a compound annual growth rate (CAGR) of 8.5%. Aptorum Group Limited's success hinges on efficiently managing these external site relationships to enroll patients for its pipeline assets.

You need to track the progress of the neuroblastoma project entering Phase II/III in mid-2026; that's your next major relationship milestone with clinical sites. Finance: draft 13-week cash view by Friday.

Aptorum Group Limited (APM) - Canvas Business Model: Channels

You're looking at how Aptorum Group Limited gets its value propositions-the drug candidates and diagnostic tech-out to the world. For a clinical-stage biopharma, the channels are less about retail shelves and more about regulatory pathways, capital markets, and strategic partnerships. Here's the breakdown of the channels they use as of late 2025.

Direct engagement with global regulatory agencies (FDA, etc.)

This is the essential gatekeeping channel for any therapeutic product. Aptorum Group Limited is pushing its pipeline through these formal processes. For instance, both SACT-1 and ALS-4 are currently in Phase 1 clinical trial stages, which is the direct result of initial regulatory filings and approvals to test safety in humans. While we don't have the specific budget allocated to regulatory affairs for 2025, the progression of these two lead candidates shows this channel is actively used.

• SACT-1: Currently in Phase 1 clinical trial.
• ALS-4: Currently in Phase 1 clinical trial.
• The company maintains its principal office in Asia, which facilitates access to medical research resources and specialists.

NASDAQ stock exchange for capital market access

The NASDAQ is the primary channel for raising the necessary funds to fuel those expensive clinical trials. Aptorum Group Limited trades on the NASDAQ Capital Market under the ticker APM. This access is critical for liquidity and financing. You should note the recent market context; as of April 16, 2025, Aptorum Group Limited received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement of $\text{\$1}$ per share, getting a grace period until October 14, 2025, to fix it. That's a real-time risk factor in this channel. Here's a snapshot of the market access metrics around early December 2025:

The company previously announced a $\text{\$3.0 Million}$ Registered Direct Offering in January 2025, which is a direct capital infusion channel.

Clinical trial networks for drug development and testing

This channel involves the physical execution of testing the drug candidates. Aptorum Group Limited states it has established strong relationships and collaborations with leading academic institutions to propel therapeutic innovations. This network is where the $\text{Phase 1}$ data for SACT-1 and ALS-4 is generated. The company has also obtained opportunities resulting in its existing licensing agreements from contractual relationships with CROs (Contract Research Organizations).

CLIA-certified lab for commercial diagnostic services

The diagnostic service channel is tied to the co-development of the PathsDx Test, a novel molecular-based rapid pathogen identification and detection diagnostics technology, with Accelerate Technologies Pte Ltd, the commercialization arm of Singapore's Agency for Science, Technology and Research (ASTAR). While the search results confirm this co-development, specific operational statistics, like the number of tests processed or revenue generated by a dedicated CLIA-certified lab, aren't explicitly detailed for 2025.

Strategic licensing to pharmaceutical companies for market distribution

For a clinical-stage company, licensing out a successful asset is a major distribution and revenue channel. Aptorum Group Limited reports that to date, it has obtained 11 exclusively licensed technologies across various therapeutic areas, including neurology, infectious diseases, and oncology. Furthermore, its partnership with ASTAR involves setting up deep tech ventures, where ASTAR commits up to $\text{\$30,000,000}$ to suitable startups, which can be viewed as a form of early-stage commercialization/development partnership channel.

• Total exclusively licensed technologies obtained: 11.
• Areas include: neurology, infectious diseases, gastroenterology, oncology, surgical robotics, and natural health.
• Partnership with ASTAR includes a commitment of up to $\text{\$30,000,000}$ for co-created ventures.

Finance: review the cash burn rate against the $\text{\$0.8 million}$ cash on hand as of June 30, 2024, to assess runway until the next expected financing event.

Aptorum Group Limited (APM) - Canvas Business Model: Customer Segments

You're hiring before product-market fit, so your customer segments are defined by the unmet medical need and the capital markets that fund the journey to that fit.

Patients with virulent infections and rare cancers (e.g., neuroblastoma)

• Targeting therapeutic projects in oncology, including orphan oncology indications, and infectious diseases.
• Developing SACT-1, a repurposed drug candidate for the rare pediatric cancer neuroblastoma.
• Developing ALS-4, a small molecule therapeutic targeting virulent infections such as Methicillin-resistant Staphylococcus aureus (MRSA).
• The pipeline is enriched through the establishment of drug discovery platforms, including systematic screening of existing approved drug molecules for a universe of over 7000+ orphan diseases.
• Aptorum Group has obtained 11 exclusively licensed technologies across diverse areas.

Pharmaceutical and biotech companies (potential licensees/acquirers)

Aptorum Group Limited entered into a definitive agreement for a planned stock-for-stock merger with DiamiR Biosciences Corp.. Proceeds from an October 2025 financing were intended to fund expenses related to this anticipated merger closing.

Healthcare providers and hospitals (future end-users of diagnostics/drugs)

The company is co-developing a novel molecular-based rapid pathogen identification and detection diagnostics technology with Accelerate Technologies Pte Ltd, the commercialization arm of the Singapore's Agency for Science, Technology and Research.

Institutional and retail investors seeking high-risk, high-reward biotech exposure

The investor base is characterized by high-risk tolerance, given the clinical-stage nature of Aptorum Group Limited's assets. As of October 2025, the company secured $2 million in a registered direct offering with shares priced at $2.00 per share. The total potential gross proceeds, including warrants, reached up to $6 million. The market capitalization was reported at $12.7 million in October 2025, and around $15.57 million as of late 2025. The company maintains a moderate debt level with a debt-to-equity ratio of 0.15.

Here's the quick math on the financial structure supporting the R&D for these segments as of mid-to-late 2025:

For context on investor sentiment, the stock traded at $0.86 in April 2025, with a 52-week low of $0.46 and a high of $7.49. Institutional investors held 85,459 shares as of April 2025.

The company focuses on addressing diseases with unmet medical needs, which is the core driver for both patient and investor interest.

Aptorum Group Limited (APM) - Canvas Business Model: Cost Structure

You're looking at the core expenditures for Aptorum Group Limited as of late 2025, focusing on what drains the cash reserves. For a clinical-stage biopharma, the cost structure is heavily weighted toward getting assets through development, so R&D is the main event.

Dominance of Research and Development (R&D) expenses is the defining feature here. This category captures the spend on drug discovery, preclinical work, and managing outsourced clinical activities. It's the engine room cost.

For the six months ended June 30, 2024, Research and development expenses totaled $2.0 million. This was a reduction from the $3.2 million reported for the same period in 2023. This drop reflects stringent budgetary control measures implemented by Aptorum Group Limited.

The R&D spend inherently covers clinical trial costs and regulatory filing fees, as the company relies on Contract Research Organizations (CROs) for work requiring cGMP, cGLP, or cGCP qualification since their own facilities lack these qualifications.

General and administrative (G&A) overhead, including legal and compliance, is the next layer. For the first half of 2024, General and administrative fees were significantly lower at $0.3 million, down from $1.3 million in the first half of 2023. Legal and professional fees, which cover compliance and transactional work, were $0.4 million for the same six-month period in 2024, compared to $1.7 million in 2023. Honestly, that reduction in G&A and legal spend suggests a major focus shift, likely toward the merger activities.

Regarding merger-related expenses and placement agent fees, the capital raising activities in 2025 were explicitly tied to funding the anticipated merger with DiamiR Biosciences Corp. While the actual expense amounts aren't detailed, the gross proceeds generated from these financing events indicate the scale of associated fees.

Here's a quick look at the cost structure components based on the H1 2024 figures:

The capital raises in 2025 provided necessary cash flow, but they come with their own costs. For instance, the October 2025 registered direct offering was expected to yield gross proceeds of $2 million before deducting placement agent fees and other offering expenses. H.C. Wainwright & Co. acted as the exclusive placement agent for that transaction. Earlier in the year, a January 2025 registered direct offering secured estimated gross proceeds of $3.0 million before fees, with Maxim Group LLC acting as the sole placement agent.

The key cost drivers are:

• R&D spend at $2.0 million for H1 2024.
• G&A fees reduced to $0.3 million for H1 2024.
• Legal and professional fees at $0.4 million for H1 2024.
• Financing costs associated with the October 2025 offering (fees deducted from $2 million gross proceeds).

Finance: draft 13-week cash view by Friday.

Aptorum Group Limited (APM) - Canvas Business Model: Revenue Streams

You're looking at the financial foundation of Aptorum Group Limited (APM) as of late 2025, and honestly, the revenue streams are heavily weighted toward financing activities right now, which is typical for a clinical-stage biopharma before product approval. The core business model relies on securing capital to fund its development pipeline and strategic acquisitions.

The most concrete revenue-adjacent activity has been capital raising through equity offerings. You saw a significant move in October 2025 to bolster the balance sheet ahead of the DiamiR Biosciences Corp. merger. This wasn't a one-off event this year, either.

Here's a quick look at the recent financing events:

The October 2025 capital raise, with H.C. Wainwright & Co. as the placement agent, was explicitly intended to fund expenses related to the previously announced merger with DiamiR Biosciences Corp. and for general working capital. It's important to note that the warrants issued in that October deal are exercisable at $2.00 per share and expire twenty-four months from the effective date of a registration statement. As of late 2025, the company maintains a moderate debt level with a debt-to-equity ratio of 0.15.

The current commercial revenue picture is minimal, as is common when a company is pre-commercialization. While specific H1 2025 net loss figures aren't in my latest data, the most recent reported loss was a net loss of $2.7 million for the six months ended June 30, 2024, which was an improvement from the $6.6 million loss in the same period of 2023, driven by budgetary control measures. As of August 22, 2025, the total equity was reported at $21.13 million against total liabilities of $4.35 million. Furthermore, an AI Analyst assessment in October 2025 noted that Aptorum Group's overall stock score of 41 reflects significant financial difficulties, with declining revenues and persistent losses as primary concerns.

Future revenue streams are tied directly to the successful execution of their pipeline and the DiamiR merger. These streams are expected to materialize from:

• Future sales of approved therapeutic assets in oncology and infectious diseases.
• Revenue from biopharma services and diagnostic sales following the DiamiR Biosciences Corp. merger, which was agreed upon on July 14, 2025.
• Potential future milestone payments derived from the 11 exclusively licensed technologies Aptorum Group has obtained in areas like neurology and surgical robotics.

The DiamiR Biosciences merger, an all-stock deal where DiamiR shareholders are set to receive 70% of the combined company's common stock, is key to unlocking the diagnostics revenue component. DiamiR specializes in innovative blood-based tests for brain health, including the APOE Genotyping test. If onboarding takes 14+ days, churn risk rises, but for Aptorum Group Limited, the immediate focus is closing this transaction to transition from pure financing to product-driven revenue generation.

Finance: draft 13-week cash view by Friday.