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Veea and NovaGen Sign Merger Agreement, Targeting Company Valuation of Approximately $750M

Veea and NovaGen Group, a personalized regenerative medicine and longevity company, 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 $10M 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 $750M. 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.