Avai Bio ends Ainnova AI joint venture with no penalties

Avai Bio, Inc. entered into a Mutual Termination Agreement with Ainnova Tech Inc. on May 7, 2026, ending their Joint Venture and License Agreement that began in November 2024.

Filing Impact

(High)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

8-K

Rhea-AI Filing Summary

Avai Bio, Inc. entered into a Mutual Termination Agreement with Ainnova Tech Inc. on May 7, 2026, ending their Joint Venture and License Agreement that began in November 2024. The joint venture entity, Ai-Nova Acquisition Corp., will be dissolved and its Nevada corporate filings closed.

Both parties agreed to cancel and release all obligations, rights, and liabilities related to the prior arrangement, with no termination penalties or further financial obligations for either side. Avai Bio and Ainnova plan to pursue their business strategies independently while cooperating in good faith to wind down any remaining joint venture activities.

Insights

Avai Bio and Ainnova unwind an AI healthcare joint venture with no penalties.

Avai Bio, Inc. and Ainnova Tech Inc. mutually terminated their Joint Venture and License Agreement dated November 8, 2024, which focused on developing artificial intelligence–based healthcare technologies through Ai-Nova Acquisition Corp. The joint venture entity will be dissolved and related Nevada filings closed.

The termination cancels all obligations, rights, and liabilities under the agreement, explicitly stating no termination penalties or further financial obligations for either party. Strategically, each company will now pursue its own path in AI healthcare, with cooperation limited to an orderly wind-down of pending joint venture activities.

8-K Event Classification

2 items: 1.02, 9.01

2 items

Item 1.02 Termination of a Material Definitive Agreement Business

A significant contract was terminated, which may affect business operations or revenue.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Termination date: May 7, 2026 Original JV agreement date: November 8, 2024 Exhibit 10.1: Mutual Termination Agreement

3 metrics

Termination date May 7, 2026 Date Mutual Termination Agreement was entered

Original JV agreement date November 8, 2024 Date Joint Venture and License Agreement was signed

Exhibit 10.1 Mutual Termination Agreement Filed as an exhibit to detail termination terms

Key Terms

Material Definitive Agreement, Mutual Termination Agreement, Joint Venture and License Agreement, dissolved, +1 more

5 terms

Material Definitive Agreement regulatory

"Item 1.02 Termination of a Material Definitive Agreement"

A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.

Mutual Termination Agreement regulatory

"entered into a Mutual Termination Agreement (the “Termination Agreement”)"

Joint Venture and License Agreement financial

"to terminate, by mutual consent, the Joint Venture and License Agreement dated November 8, 2024"

dissolved regulatory

"Ai-Nova Acquisition Corp. (“AAC”) will be formally dissolved and all corporate filings"

Emerging growth company regulatory

"Emerging growth company Securities registered pursuant to Section 12(b)"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

FAQ

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

What did Avai Bio, Inc. (AVAI) announce regarding its agreement with Ainnova Tech Inc.?

Avai Bio and Ainnova Tech entered a Mutual Termination Agreement on May 7, 2026, ending their prior Joint Venture and License Agreement from November 2024. The termination covers all obligations related to the AI healthcare collaboration and dissolves their joint venture entity.

Are there any termination penalties in Avai Bio’s (AVAI) Mutual Termination Agreement with Ainnova?

The Mutual Termination Agreement states there are no termination penalties or further financial obligations for either Avai Bio or Ainnova. Both parties cancel and release all obligations, rights, and liabilities arising from the prior Joint Venture and License Agreement.

What happens to Ai-Nova Acquisition Corp. after Avai Bio (AVAI) ended the joint venture?

As part of the Mutual Termination Agreement, Ai-Nova Acquisition Corp., the joint venture entity, will be formally dissolved. All corporate filings with the State of Nevada related to Ai-Nova Acquisition Corp. will be closed as the parties complete the dissolution process in an orderly manner.

Why did Avai Bio (AVAI) and Ainnova terminate their Joint Venture and License Agreement?

The termination reflects Avai Bio and Ainnova’s decision to pursue their respective business strategies independently. Although the joint venture ends, both parties agreed to cooperate in good faith to ensure an orderly wind-down of any pending activities related to the contemplated AI healthcare collaboration.

Will Avai Bio (AVAI) and Ainnova continue any cooperation after dissolving Ai-Nova Acquisition Corp.?

Following the Mutual Termination Agreement, Avai Bio and Ainnova will no longer maintain the joint venture but will cooperate to complete the dissolution of Ai-Nova Acquisition Corp. They also plan to work together in good faith to wind down any remaining activities linked to the former arrangement.

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

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Accepted by SEC EDGAR 05/08/2026 - 04:16 PM

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 7, 2026

AVAI BIO, INC.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation or organization)

333-225433

(Commission File Number)

38-4053064

(I.R.S. Employer Identification Number)

c/o Eastbiz.com, Inc 5348 Vegas Drive, Las Vegas, NV 89108

(Address and telephone number of principal executive offices)

(Issuer’s telephone number)

(866) 533-0065

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act: Not applicable.

Title of each class		Trading Symbol		Name of each exchange on which registered
Not applicable

Item 1.02 Termination of a Material Definitive Agreement

On May 7, 2026, Avai Bio, Inc., formerly known as Avant Technologies Inc. (the “Company” or “AVAI”), and Ainnova Tech Inc. (“Ainnova” or “AINN”) entered into a Mutual Termination Agreement (the “Termination Agreement”) to terminate, by mutual consent, the Joint Venture and License Agreement dated November 8, 2024 (effective as of November 11, 2024) (the “License Agreement”).

Under the License Agreement, AVAI and Ainnova agreed to form a new Nevada corporation, Ai-Nova Acquisition Corp. (“AAC”) to develop and commercialize certain proprietary artificial intelligence–based healthcare technologies. Pursuant to the Termination Agreement, both parties agreed to cancel and release each other from any and all obligations, rights, and liabilities arising under or related to the License Agreement. No termination penalties or further financial obligations will be incurred by either party.

As part of the termination, the parties have agreed that Ai-Nova Acquisition Corp. (“AAC”) will be formally dissolved and all corporate filings with the State of Nevada related to AAC will be closed. Both AVAI and Ainnova will cooperate to complete the dissolution process in an orderly manner.

The mutual termination reflects the parties’ decision to pursue their respective business strategies independently. Both AVAI and Ainnova have agreed to cooperate in good faith to ensure an orderly wind-down of any pending activities related to the contemplated joint venture.

The foregoing description of the Termination Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Termination Agreement, a copy of which will be filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
10.1	Mutual Termination Agreement dated May 7, 2026, by and between Avai Bio, Inc. and Ainnova Tech Inc.

SIGNATURES

In accordance with the requirements of the Securities Act of 1933, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



Dated: May 8, 2026	AVAI BIO, INC.

	By:	/s/	Vitalis Racius
		Name:	Vitalis Racius
		Title:	Chief Financial Officer, Director & Treasurer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

EX-10.1 MUTUAL TERMINATION AGREEMENT 19.5 KB

Avai Bio ends Ainnova AI joint venture with no penalties

Rhea-AI Filing Summary