Veea Inc. and NovaGen announce potential merger to launch an Edge AI-Powered Global Health Platform

Veea and NovaGen sign term sheets for a Nasdaq-focused health platform, backed by a proposed US$10 million cornerstone investment.

Rhea-AI Summary

Veea (VEEA) and NovaGen have signed a term sheet for a potential business combination and launch of NovaGen Health Networks, an edge AI-powered longevity and precision-health platform. GeoNova Capital has also signed a term sheet to invest an initial US$10 million in the combined company. Management, using internal projections and an independent valuation based on those projections, estimates the combined company’s value at about US$750 million, with an intended Nasdaq listing.

NovaGen Health Networks will deploy in two phases starting in Q4 2026, initially providing a household health hub, digital twins and a patient-controlled records wallet, and later expanding, as clinical validation and regulatory authorizations permit, to clinician-supervised diagnostics and cellular therapy pathways. All transactions, including the merger and investment, remain subject to definitive agreements and closing conditions.

Positive

• Signed term sheet for Veea–NovaGen business combination targeting Nasdaq listing
• GeoNova Capital term sheet for initial US$10 million investment in combined company
• Management and independent valuation estimate combined company value at about US$750 million
• Planned Q4 2026 launch of Phase 1 household health hub and digital twin services

Negative

• Merger and GeoNova investment remain subject to definitive documentation and closing conditions
• Phase 2 diagnostics and therapy pathways depend on clinical validation and regulatory authorizations

News Explained

No merger, funding receipt, or dilution is established yet: both the combination and GeoNova’s $10 million remain subject to definitive agreements and closing conditions.

Veea and NovaGen have signed a term sheet for a potential combination, but the release does not state consideration, ownership allocation, or dilution, so no change to existing common holders’ ownership is established.

Although the headline says GeoNova “commits” US$10 million, the body describes a signed term sheet to provide an initial US$10 million, with the investment subject to definitive documentation and closing conditions; the amount is therefore proposed, not disclosed as funded.

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Key Figures

Cornerstone investment: US$10 million Initial deployments: Q4 2026 Combined company valuation: $750 million

Cornerstone investment

US$10 million

Initial investment term sheet with GeoNova Capital

Initial deployments

Q4 2026

NovaGen clinics and partner hospitals

Combined company valuation

$750 million

Management valuation based on internal projections and an independent valuation

Key Terms

term sheet, autologous therapies, digital twin, zero trust network access, +1 more

5 terms

term sheet financial

"signed a term sheet to combine"

A term sheet is a short, non-binding summary of the main points agreed between parties before a formal investment, loan, or acquisition is completed. Think of it as a blueprint that lists price, ownership split, key rights and conditions, and timelines so everyone knows the deal’s structure before lawyers draft final contracts. Investors care because it signals the likely economic terms, risks, and protections they will get and can make or break whether a transaction proceeds.

autologous therapies medical

"potential future autologous therapies"

Treatments made from a patient’s own cells or tissues that are collected, processed or modified, then returned to that same patient to treat disease or repair damage. Because the material comes from the individual, these therapies usually lower the risk of immune rejection but require personalized manufacturing, complex logistics and regulatory oversight. Investors care because that personalization affects production scale, cost, timelines and commercial predictability much like a bespoke product versus a mass-produced one.

digital twin technical

"a digital twin for every family member"

A digital twin is a live virtual replica of a physical asset, process, or system that mirrors real-world behavior using data and models so users can test changes, predict problems, and measure performance without touching the real thing. For investors, digital twins matter because they can lower maintenance costs, speed product development, improve uptime and reliability, and make future cash flows and risks easier to forecast — like using a flight simulator to safely train and tune a real airplane.

zero trust network access technical

"incorporating Zero Trust Network Access"

Zero Trust Network Access (ZTNA) is a security approach that requires every user and device to prove they are allowed to access a specific application or resource each time they connect, rather than trusting them by default because they’re inside a company network. For investors, ZTNA matters because it reduces the risk of costly breaches and regulatory fines, can lower insurance and remediation costs, and signals that a company is proactively protecting sensitive data—factors that influence operational resilience and valuation.

dna-methylation age medical

"Telomere length, DNA-methylation age and additional biomarkers"

DNA-methylation age is an estimate of a person’s biological or “wear-and-tear” age derived from chemical tags called methyl groups attached to specific sites on the genome; algorithms called epigenetic clocks translate those patterns into an age number that often tracks but can differ from chronological years. It matters to investors because it is used as a biomarker in clinical studies and longevity research, affecting trial endpoints, product claims, and the valuation of companies developing diagnostics or therapies targeted at aging or age-related diseases—think of it like an odometer for the body that may influence product development and regulatory evidence.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Proposed combination seeks to establish a Nasdaq-listed longevity and precision-health platform, complementing Veea’s continuing edge AI infrastructure business; GeoNova Capital commits US$10 million as cornerstone institutional investor

NEW YORK and AMSTERDAM, Sept. 14, 2026 (GLOBE NEWSWIRE) -- Veea Inc. (NASDAQ: VEEA), a provider of AI-powered, cybersecure edge infrastructure, and NovaGen Group B.V., a personalized regenerative medicine and longevity company, today announced they have signed a term sheet to combine and are targeting execution of a definitive business combination agreement within the coming weeks. In connection with the business combination, the parties have also announced an agreement to launch NovaGen Health Networks: a connected health platform integrating Veea's edge computing, connectivity and cybersecurity capabilities with NovaGen's cellular reprogramming science and clinical services. Initial deployments will begin at NovaGen clinics and partner hospitals in Q4 2026.

The platform, built on VeeaONE, connects health records, wearable and sensor data, and biological measurements into a patient-controlled longitudinal health profile. Local computing supports agentic AI applications close to the patient, with patient-directed permissions governing access to personal data. Rollout begins with connected health services and will expand to clinician-supervised diagnostics and therapy pathways as clinical validation and applicable regulatory authorizations permit.

GeoNova Capital, as cornerstone investor, has signed a term sheet to provide an initial US$10 million investment in the combined company. Veea will continue to grow and serve its existing customers, partners and markets. Management believes that, based on its internal projections and an independent valuation prepared using such internal projections, the value of the combined company is approximately $750 million.

The business combination between Veea and NovaGen, as well as the investment by GeoNova Capital, remains subject to the negotiation and execution of definitive documentation and the satisfaction of certain conditions to closing by the parties.

The companies plan to roll out NovaGen Health Networks in two phases.

Phase 1 - Connecting People, Data and Care (Q4 2026)
NovaGen Health Networks will provide a private household health hub with a digital twin for every family member and a patient-controlled health records wallet, integrating health records, wearable telemetry and longitudinal biological measurements. Built on VeeaONE, the hub processes sensitive data locally and supports AI wellness companions, medication reminders, and patient-authorized provider sharing. Plans include personal cell banking and consented research participation, subject to applicable regulatory requirements.

Phase 2 - Clinician-Supervised Diagnostics and Therapy Pathways
As clinical validation and regulatory authorizations permit, the network will combine digital twins and medical records with cellular data from the small skin biopsy used to initiate the ARC Prometheus process. This biopsy provides a patient's own fibroblasts for cellular reprogramming, rejuvenation, cell banking and potential future autologous therapies. Telomere length, DNA-methylation age and additional biomarkers will be assessed to support clinician evaluation of therapy candidates and treatment monitoring. Validated AI tools will support clinician-reviewed decisions and referrals to authorized treatment centers.

"NovaGen is a regenerative medicine platform with proprietary autologous rejuvenated fibroblast stem cell technology and a growing network of associated clinics. This agreement with Veea extends our reach to individuals long before they walk into a clinic," said Diederik van der Reijt, CEO of NovaGen Group. "NovaGen Health Networks creates a pathway to identify and evaluate potential candidates for our therapies, allowing that relationship to begin earlier and continue through assessment, treatment and follow-up, including the creation of each patient's own digital twin."

"NovaGen Health Networks demonstrates the power of AI at the edge, bringing Veea's connectivity, computing, cybersecurity, storage and AI capabilities together in one global network, putting intelligence where care happens while giving people far greater control over their most personal information," said Allen Salmasi, Chairman and CEO of Veea.

Data Sovereignty and Privacy
Patient privacy and data sovereignty are central to the network's design. Health records remain encrypted at source and off the blockchain; the blockchain ledger records only permissions, document fingerprints and access events. Patients authorize specific recipients, categories of information and access periods, and may revoke access at any time. Cloud services use pseudonymous digital twins, with re-identification controlled through protected keys and authorized consent. Veea's cybersecurity architecture, incorporating Zero Trust Network Access, network slicing, micro-segmentation and AI-driven anomaly detection, protects the network end-to-end.

"GeoNova's US$10 million commitment reflects our conviction in NovaGen's strategy and the scale of the opportunity. As corporate adviser and cornerstone institutional investor, our role is to support NovaGen with institutional capital, capital-markets discipline and strategic execution as it advances toward the U.S. public markets," said Robert Hamilton, Managing Partner, Capital Markets, GeoNova Capital.

About Veea
Veea Inc. (NASDAQ: VEEA) is a global leader in edge solutions and infrastructure. Founded in 2014 and headquartered in New York City, Veea enables enterprises, service providers and public sector organizations to deploy AI-powered applications at the edge. The VeeaONE platform integrates connectivity, computing, cybersecurity and storage into a unified hyperconverged network solution, from edge to cloud. Veea holds more than 123 patents across related technology domains and has been recognized by Gartner for its innovations in edge computing. www.veea.com

About NovaGen Group
NovaGen Group has developed a personalized regenerative medicine and longevity platform integrating ARC Prometheus cellular reprogramming and rejuvenation technology, biological assessment, cell banking, clinical services and digital health. Its strategy connects research and clinical development with a growing network of care locations and partners to support more personalized approaches to health and aging. www.novagengroup.com

About GeoNova Capital
GeoNova Capital is a UAE-based investment and capital-markets firm focused on event-driven investing, structured finance, special situations and public-market transactions. GeoNova is supporting NovaGen as corporate adviser and cornerstone institutional investor.

Media Contacts
Thomas Latiolais — thomas.latiolais@veea.com
Karen Brink — karen@novagengroup.com

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements typically include projections of future revenues, earnings, strategies, and operational growth. These statements are based on current beliefs, assumptions and expectations and involve known and unknown risks and uncertainties that could cause actual results to differ materially from current projections due to factors including, but not limited to, market conditions, economic shifts, and operational challenges. Operational factors that could cause results to differ include Veea's ability to maintain adequate financial resources, execute its growth strategy, achieve market acceptance, and compete effectively. Forward-looking statements may be identified by words such as "anticipate," "believe," "expect," "intend," "may," "plan," "potential," "project," "will" and similar expressions. Forward-looking statements speak only as of the date made. Veea disclaims any obligation to update them publicly.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is NovaGen Health Networks and how will it work in Phase 1?

In Phase 1, starting in Q4 2026, NovaGen Health Networks will offer a private household health hub with a digital twin for each family member and a patient-controlled health records wallet. Built on VeeaONE, it integrates health records, wearable telemetry and longitudinal biological measurements, processes sensitive data locally, and supports AI wellness companions, medication reminders and patient-authorized provider data sharing. Plans also include personal cell banking and consented research participation, subject to applicable regulatory requirements.

What will Phase 2 of NovaGen Health Networks add?

Phase 2, as clinical validation and regulatory authorizations permit, will combine digital twins and medical records with cellular data from a small skin biopsy used to initiate NovaGen’s ARC Prometheus process. Fibroblasts from this biopsy support cellular reprogramming, rejuvenation, cell banking and potential future autologous therapies. Biomarkers such as telomere length and DNA-methylation age will be assessed, and validated AI tools will assist clinician-reviewed decisions and referrals to authorized treatment centers.

How does the platform address patient privacy and data sovereignty?

Patient privacy and data sovereignty are central to the design. Health records remain encrypted at source and are kept off the blockchain; only permissions, document fingerprints and access events are written to the ledger. Patients authorize specific recipients, information categories and access periods, and may revoke access at any time. Cloud services use pseudonymous digital twins, with re-identification controlled through protected keys and authorized consent. Veea’s cybersecurity architecture uses Zero Trust Network Access, network slicing, micro-segmentation and AI-driven anomaly detection for end-to-end protection.

What role will GeoNova Capital play beyond its proposed investment?

GeoNova Capital has signed a term sheet as a cornerstone institutional investor with an initial US$10 million commitment and will act as corporate adviser. The firm’s stated role is to provide institutional capital, capital-markets discipline and strategic execution support as NovaGen advances toward the U.S. public markets.

Will Veea’s existing edge AI business change under the proposed combination?

Veea plans to continue to grow and serve its existing customers, partners and markets. The proposed combination is intended to complement Veea’s ongoing AI-powered, cybersecure edge infrastructure business through the addition of the NovaGen Health Networks platform.