AVAI · Avant Technologies Inc.

On May 7, 2026, Avant Technologies Inc. (now Avai Bio, Inc.) and Ainnova Tech Inc. mutually agreed to terminate their Joint Venture and License Agreement, which had been effective since November 11, 2024. The joint venture, Ai-Nova Acquisition Corp. (AAC), was formed to develop and commercialize AI-based healthcare technologies, with Avant providing funding and management support and Ainnova contributing its Vision AI and retinal scanning software. The termination reflects a strategic shift by both parties to focus on independent operations. Under the Mutual Termination Agreement, AAC will be formally dissolved, and all related corporate filings in Nevada will be closed. Both parties have released each other from any and all claims, obligations, and liabilities arising from the agreement, and no penalties or further financial obligations are incurred. Each party retains its own intellectual property, and all licenses granted under the original agreement are revoked. The dissolution costs will be shared equally. This event is material as it represents the abandonment of a significant strategic partnership and joint venture, potentially impacting Avant's future revenue streams and technology development plans. Investors should monitor Avant's subsequent announcements regarding its revised business strategy.