iSpecimen acquires two AI products from Foldlab AI for $4.5 million
The deal gives Foldlab 53.6% of iSpecimen's outstanding stock, and the Nasdaq company gained an AI protein-discovery agent and a disease-trend prediction model.
iSpecimen Inc. (Nasdaq: ISPC) said it completed the acquisition of two artificial intelligence products from Foldlab AI Ltd., a British Columbia company, on November 2, 2026. The deal covers an AI agent that identifies disease-associated proteins and an AI model that predicts and monitors disease trends.1 The company said the transaction marks its entry into AI-powered disease intelligence, pairing its established biospecimen network with tools designed to identify disease-associated proteins and forecast and monitor disease trends.1
iSpecimen obtained the full technology package tied to the products, under an asset purchase agreement dated September 4, 2026, and approved by stockholders on October 9, 2026, including the AI software, source code, model weights, documentation, data rights, repositories, credentials, deployment materials and related intellectual property transferred under the Asset Purchase Agreement.1
The total price came to $4.5 million, consisting of $750,000 in cash paid at closing, up to $1.25 million in two milestone payments of $625,000 each, payable upon delivery and acceptance of the applicable milestone products, and $2.5 million in shares of common stock (2,907,977 shares)1, with the share count set by a volume-weighted average price of $0.8597 per share for the ten consecutive trading days from October 19, 2026 through October 30, 20261. The stock portion carries a five-year trading restriction and lock-up with no leak-out, and a voting rights agreement with the Company1.
The filing noted that the stock issuance left Foldlab holding approximately 53.6% of the outstanding shares of Common Stock, based on 2,518,590 shares outstanding as of August 12, 2026, plus the shares issued as Stock Consideration.1 Zhengkang (Jacob) Shao is the sole director and sole shareholder of Foldlab and may be deemed to beneficially own the shares held by Foldlab.1 The company added that no change in the composition of the Company's board of directors or executive officers occurred in connection with the Closing.1
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