ImmunoPrecise Antibodies Ltd (IPA)

As AI Models Become Commodities, One Bio-Native AI Company Just Moved to Patent the Thing That Actually Compounds: the DataJuly 1, 2026 9:00 AM
PR Newswire (Canada) Issued on behalf of MindWalk Holdings Corp.MindWalk Holdings Corp. (NASDAQ: HYFT) filed a foundational European patent application covering the multi-dimensional data architecture at the core of its HYFT® Technology, an attempt to protect, at the architectural level, the enriched biological data layer that its commercial platforms run on.NEW YORK, July 1, 2026 /CNW/ -- USA News Group, There is a growing consensus in artificial intelligence that the models themselves are becoming interchangeable, and that lasting competitive advantage is shifting away from the model and toward the proprietary, structured data a model reasons over. On that thesis, MindWalk Holdings Corp. (NASDAQ: HYFT) has just made a defining move, filing a foundational European patent application covering the multi-dimensional data structure at the core of its proprietary HYFT® Technology. Key TakeawaysMindWalk Holdings Corp. (NASDAQ: HYFT), a Bio-Native AI company, filed a foundational patent application with the European Patent Office (Application No. EP26187897.9) covering the multi-dimensional data structure at the core of its proprietary HYFT® Technology.The filing is built on a thesis gaining traction across enterprise AI: as frontier models converge toward commodity, durable advantage migrates to the data layer, the structured, domain-specific representation a model reasons over.The patented architecture powers MindWalk's ReefIQ™ biological context layer and LensAI™ platform, the latter already in contracted, recurring arrangements with life-sciences customers.MindWalk is moving in the same data-and-platform direction as other public life-sciences AI names, including Tempus AI (NASDAQ: TEM), AbCellera (NASDAQ: ABCL), Schrödinger (NASDAQ: SDGR), and Recursion (NASDAQ: RXRX), each distinct, and none a proxy for MindWalk.Patenting the Moat, Not the ModelThere is a growing consensus in artificial intelligence that the models themselves are becoming interchangeable. As frontier systems from competing labs converge on similar capabilities, the place where lasting competitive advantage accrues is shifting, away from the model and toward the proprietary, structured data the model is given to reason over. On that thesis, MindWalk Holdings Corp. (NASDAQ: HYFT) has just made a defining move: the Austin-based Bio-Native AI company announced it filed a foundational patent application with the European Patent Office (Application No. EP26187897.9) covering the multi-dimensional data structure at the heart of its proprietary HYFT® Technology.The intent, in the company's framing, is to protect at the architectural level the enriched biological representation that underpins its commercial platform, the asset MindWalk regards as its core, compounding competitive advantage. In other words, rather than racing to build a better model, MindWalk is moving to fence off the data layer beneath the models. The company's position is blunt: the competitive question in its market is not which AI model a customer runs, because every model trends toward commodity, it is what the model runs on.What the Patent Actually DescribesThe application, titled "Hyperdimensional Vector Data Structures for Biological Subsequences and Property Inference," describes a specific and unusual approach to organizing biological data. In conventional pipelines, sequence identity, learned embeddings, and biological annotations are scattered across separate tables that must be joined together at the moment of a query. MindWalk's structure instead encodes each short biological subsequence together with the properties that define its behavior, as coordinates of a single object in a space of at least 2,000 dimensions.Per the filing, that single self-contained object carries a biological subsequence alongside at least 50 heterogeneous properties, including structural data, microenvironmental geometry, functional annotations, contextual associations, and metadata. The application further describes a database of at least 600 million such records, and a method that performs vector-space operations across them to infer additional biological properties. A central claimed concept the company calls the "reduced combinatory number" identifies the subsequences most constrained in their biological context, and therefore the most informative to store and analyze. The practical claim is that the indexable unit is itself biologically meaningful, rather than an opaque vector, which, MindWalk argues, is what allows AI models and autonomous agents to reason over biology reliably rather than guess at it.The company is careful to define the architecture by what it is not: it describes the approach as alignment-free and not dependent on any single AI model, and distinct from a sequence-alignment system, a k-mer index, a motif library, or an embedding-only method, each of which, in its telling, discards either biological meaning or semantic structure. The distinction the filing is meant to protect is that its indexable unit carries both.Why the Data Layer Is Where Value Is MigratingThe strategic logic tracks a broader shift in enterprise AI. When any well-funded competitor can license or build a capable model, the model stops being a differentiator. What cannot be easily replicated is a deep, structured, domain-specific dataset built over many years, the context that makes a general model useful in a specialized field. MindWalk says it spent more than two decades curating exactly such a layer for the life sciences, and the patent filing is the move to make that architecture defensible rather than merely valuable.The market context the company cites is substantial. By MindWalk's account, drawing on third-party estimates, spending on AI in drug discovery is projected to grow from roughly US$5 billion in 2026 to more than US$8 billion by 2030, and that spend sits atop the more than US$250 billion the pharmaceutical industry invests in research and development each year. The company is positioning its data layer as infrastructure beneath that spending. As with any market-sizing, those figures are third-party projections that may prove inaccurate, and the company flags them as context only.How the Patent Connects to RevenueThe filing is not an abstract science-project claim; it sits directly beneath products the company is already commercializing. The same enriched representation powers ReefIQ™, which MindWalk describes as a biological context layer for life sciences, and the LensAI™ platform that runs on it for target discovery, candidate diligence, and portfolio decision support, the kind of agentic AI workflows pharmaceutical companies are racing to deploy. Critically, the company states that LensAI is already in contracted, recurring arrangements with life-sciences customers today. The patent is intended to place foundational IP protection around the layer those deployments depend on, an asset MindWalk says compounds in analytical value as more data accumulates on the platform.By the company's description, its HYFT® Technology underpins a continuously evolving biological representation of roughly 660 million biological patterns and 25 billion relationships, refined over 20 years of curation, that enriches data at ingestion. The filing follows MindWalk's June 2026 launch of ReefIQ and, the company says, extends a deliberate strategy of making the biological representation, not any individual AI model, the durable, compounding asset.The Public Company Cohort Investors Are WatchingMindWalk would be an unusual pure-play on the "data layer" thesis, but several public life-sciences AI companies illustrate the broader move toward proprietary data and platform moats. These comparisons are for context only; each company pursues a different technology and business model, several are far larger or further along, and none is a proxy for MindWalk or implies any partnership or comparable performance. Tempus AI (NASDAQ: TEM) is the closest thematic mirror: its competitive advantage rests on a proprietary multimodal clinical-and-molecular dataset measured in hundreds of petabytes, and it has reported strong net revenue retention as biopharma customers build on that data, a real-world example of data-as-moat in life sciences. AbCellera (NASDAQ: ABCL) runs an antibody-discovery platform monetized across a large base of partnered programs, illustrating the platform-and-partnership model rather than a single-drug bet.Schrödinger (NASDAQ: SDGR) approaches the field from physics-based computational simulation, combining a software platform used by thousands of researchers with its own drug-development programs, the established, software-led end of the spectrum. And Recursion (NASDAQ: RXRX) is among the most visible "TechBio" names, pairing large proprietary experimental datasets and an AI platform with major pharma collaborations and an internal clinical pipeline, while remaining clinical-stage and pre-profit. Together these names sketch a sector being repriced around proprietary data, platforms, and partnerships, the same terrain MindWalk's patent filing stakes a claim on, even as each company's outcome rests on its own execution.The Bottom LineA patent application is a beginning, not a guarantee. European examination can narrow or reject claims, and the scope, issuance, and enforceability of any patent that ultimately issues remain open questions the company itself flags. But the strategic signal is clear and coherent: MindWalk is betting that in a world of commodity AI models, the lasting value in life-sciences AI lives in the structured biological data underneath, and it is moving to protect its version of that layer at the architectural root. For investors tracking where durable advantage accrues as the AI buildout matures, MindWalk's filing is a concrete data point in a much larger debate, with the patent's prosecution, customer adoption, and revenue trajectory the markers worth watching from here.SIGNAL OVER NOISESignal over noise. Biotech, artificial-intelligence, and drug-discovery headlines move fast, and the crowd often moves first. Eagle Eye is a real-time investor signal-intelligence platform that surfaces sentiment shifts, news flow, and trending tickers as they happen, so you see the move forming instead of reading about it later. See it at eagle-eye.dev.CONTACTUSA News Groupinfo@usanewsgroup.comSOURCES[1] MindWalk Holdings Corp., "MindWalk Files Foundational Patent on the Multi-Dimensional Data Architecture at the Core of HYFT® Technology" (Business Wire, 2026; EPO Application No. EP26187897.9; ReefIQ/LensAI; 660M patterns / 25B relationships).[2] Tempus AI, Inc. (NASDAQ: TEM), Form 8-K and 2025 results (data-and-applications business, net revenue retention), 2026.[3] AbCellera Biologics Inc. (NASDAQ: ABCL), corporate and partnership disclosures, 2026.[4] Schrödinger, Inc. (NASDAQ: SDGR), platform and pipeline disclosures, 2026.[5] Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX), Q1 2026 results and corporate disclosures, 2026.[6] AI-in-drug-discovery market estimates (Fortune Business Insights; Astute Analytica) and pharmaceutical R&D spending (Fierce Biotech; Statista), cited for context.DISCLAIMERNothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. This article is being distributed by USA News Group on behalf of Market IQ Media Group Limited, a company incorporated under the laws of Ireland ("MIQL"). MIQL has been paid a fee for MindWalk Holdings Corp. advertising and digital media from Creative Direct Marketing Group ("CDMG"). There may be 3rd parties who may have shares of MindWalk Holdings Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. MIQL and its owner/operators do not own any shares of MindWalk Holdings Corp., but reserve the right to buy and sell shares of MindWalk Holdings Corp. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQL has been reviewed and approved on behalf of MindWalk Holdings Corp. by CDMG. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.FORWARD-LOOKING STATEMENTS: This publication contains forward-looking statements, including statements regarding European patent application No. EP26187897.9 and the prosecution, scope, issuance, enforceability, and competitive value of any patent that may issue; the role of the patented architecture in HYFT® Technology, ReefIQ™, and the LensAI™ platform; the size, growth, and addressability of the markets referenced; the pace and degree of customer and market adoption of the Company's infrastructure; and the technical performance of AI-based discovery methods. Forward-looking statements are subject to known and unknown risks and uncertainties, including that patent claims may be narrowed, rejected, or successfully challenged; that third-party market estimates may prove inaccurate; and competitive, regulatory, technical, and capital-markets risks, that could cause actual results to differ materially. Additional information is available in MindWalk's Annual Report on Form 20-F and other filings on SEDAR+ (sedarplus.ca) and EDGAR (sec.gov/edgar). Except as required by law, the Company undertakes no obligation to update any forward-looking statement. References to other companies are based on those companies' public disclosures, are provided for industry context only, and do not imply any partnership, endorsement, affiliation, or comparable performance. HYFT® is a registered trademark, and LensAI™ and ReefIQ™ are trademarks, of MindWalk Holdings Corp. or its subsidiaries. View original content to download multimedia:https://www.prnewswire.com/news-releases/as-ai-models-become-commodities-one-bio-native-ai-company-just-moved-to-patent-the-thing-that-actually-compounds-the-data-302815033.html Original: As AI Models Become Commodities, One Bio-Native AI Company Just Moved to Patent the Thing That Actually Compounds: the Data

The Quiet Bottleneck in AI Drug Discovery Isn't the Model -- It's the Biology Underneath ItJune 16, 2026 8:45 AM
PR Newswire (US) Issued on behalf of MindWalk Holdings Corp.Everyone is racing to point powerful AI models at drug discovery. A growing camp argues the real prize is the layer beneath the models — the connected biological knowledge they reason over — and that is where one Nasdaq-listed company has placed its bet.NEW YORK, June 16, 2026 /PRNewswire/ -- Equity Insider News Commentary — The story the market has been telling itself about artificial intelligence and drug discovery is, at its core, a story about models. Bigger models, smarter models, models that can predict how a protein folds or design an antibody from scratch. But a quieter and increasingly influential argument is taking hold among the people actually building these systems: in biology, the model may be the least durable part of the equation. Models improve, get copied, and get commoditized. What is hard — and potentially far more valuable — is the connected, trustworthy biological knowledge the model has to reason over in the first place. Feed even a brilliant model fragmented, contradictory data and it will, in the words of one industry executive, confidently get it wrong. That debate moves to center stage on June 15, 2026, when MindWalk Holdings Corp. (NASDAQ: HYFT) joins a virtual investor panel hosted by research firm Jones — alongside generative-biology company Absci (NASDAQ: ABSI) and a leading AI compute provider — titled "Partnering to Power the New Era of Drug Discovery." The panel is a small event, but it sits on top of one of the most consequential questions in biotech: as the industry pours capital into AI, what is the part that actually compounds in value? MindWalk's answer — and the trajectory of the broader field — is worth understanding now, because it reframes where the durable advantages in AI-driven medicine may ultimately lie.Why AI Drug Discovery Hit a Wall — and What ChangedThe promise of applying AI to drug discovery has always been intoxicating: compress the decade-plus, billion-dollar odyssey of finding and validating a new medicine into something faster, cheaper, and more likely to succeed. The early wave of "AI-first" biotechs raised enormous sums on that promise. But the field ran into a hard truth that has little to do with algorithms. Biological data is a mess. It is scattered across incompatible files, formats, instruments, lab notebooks, and decades of literature; it is riddled with gaps and contradictions; and the relationships that matter most — how a sequence maps to a structure, a function, a mechanism, a disease — are often implicit rather than recorded. A model trained or prompted on that fragmented foundation can produce fluent, confident answers that are simply wrong, a failure mode the field has come to call hallucination.In consumer applications, a hallucinating chatbot is an annoyance. In drug discovery, it is a multimillion-dollar wrong turn, sending scientists down a path toward a target or molecule that was never viable. As the industry now races to deploy not just static AI models but autonomous "agentic" systems — AI that can plan and execute multi-step research workflows with limited human supervision — the cost of bad underlying data multiplies. An agent acting on fragmented biology does not just give one wrong answer; it compounds the error across an entire chain of decisions. That escalating risk is exactly why attention is shifting from the models themselves to the integrity of the biological foundation they operate on.MindWalk's Bet: Own the Context Layer, Not the ModelMindWalk — a company that rebranded in 2025 from its prior identity as ImmunoPrecise Antibodies, unifying its operations and adopting the Nasdaq ticker HYFT — has built its entire strategy around that shift. Rather than competing to build the flashiest model, the company positions its durable asset as the layer underneath: a biological "context layer" that connects and enriches data before any model reasons over it. Its proprietary HYFT® Technology, refined over roughly two decades of curation, is described as a continuously evolving biological representation spanning 660 million biological patterns and 25 billion relationships — a kind of connective tissue that links sequences, structures, functions, mechanisms, pathways, evidence, and literature into a single queryable foundation.On top of that foundation sit two products the company has brought to market. ReefIQ™, launched in June 2026, is pitched as the biological context layer that sits between a client's fragmented discovery data and its AI reasoning workflows — reconnecting the pieces before the AI acts. LensAI™ is the reasoning and application layer used for target discovery, candidate diligence, and portfolio decision support, and increasingly to host the agentic workflows pharma is racing to adopt. The company's central thesis, which CEO Dr. Jennifer Bath is expected to articulate on the Jones panel, is that because its predictions are grounded in what evolution has already conserved — the functional patterns that have survived across biology — rather than in raw statistical correlation, the system is designed to keep both models and agents from hallucinating in the highest-consequence workflows. Bath has framed the convergence she sees as "biology, context, and compute."Importantly, this is not purely conceptual. MindWalk reported that its largest enterprise AI client signed a one-year LensAI platform contract — the first contracted, recurring platform-revenue agreement in the company's history — and that the structure is one it intends to scale across its client base. For its fiscal third quarter ended January 31, 2026, the company reported revenue of $4.2 million (in Canadian dollars), up 52% year-over-year and a third consecutive quarter of year-over-year growth, with U.S. revenue doubling. The company also reported preclinical dengue data that, by its account, supported a computational prediction its platform generated before any animal was immunized — an early, real-world validation of the approach.The Field Around MindWalkMindWalk is one expression of a sector that has matured well beyond the first hype cycle, and looking at how a few public peers are positioned helps frame both the opportunity and where MindWalk's niche sits within it. Each of these companies attacks the AI-drug-discovery problem from a different layer of the stack.Absci Corporation (NASDAQ: ABSI) — MindWalk's fellow panelist — represents the generative-design frontier. The company uses generative AI models paired with an integrated wet lab to design therapeutic antibodies essentially from scratch, conditioning its models on a target's structure and then validating proposals through high-throughput experiments. Absci became clinical-stage with an AI-designed antibody entering a Phase 1 trial, making it a closely watched proof point for whether generative design can produce real drugs. It illustrates the "design" layer of the field — complementary to the data-foundation layer MindWalk emphasizes.Recursion Pharmaceuticals, Inc. (NASDAQ: RXRX) is among the largest and best-known "AI-first" drug discovery platforms, having industrialized the generation of biological data through massive automated experimentation and paired it with machine learning to identify drug candidates. With collaborations involving major pharmaceutical companies and its own clinical-stage pipeline, Recursion represents the scaled, full-stack ambition of the sector — building both the data engine and the drug pipeline — and the patient capital that strategy requires.Schrödinger, Inc. (NASDAQ: SDGR) approaches the problem from a different intellectual tradition: physics-based computational chemistry. Its software platform simulates how molecules behave at a fundamental level to predict which candidates are worth pursuing, and it both licenses that software to the industry and advances its own pipeline. Schrödinger illustrates the established, software-led end of the field — a reminder that "computational drug discovery" predates the current AI wave and that different modeling philosophies coexist and compete.Certara, Inc. (NASDAQ: CERT) rounds out the group as the infrastructure-and-decision-support comparison closest in spirit to MindWalk's positioning. A leader in biosimulation and model-informed drug development, Certara provides software and AI-powered services used across the drug-development lifecycle, including in regulatory submissions. As one of the more established, revenue-generating names in the space, it demonstrates that there is a durable, infrastructure-layer business in AI-enabled drug development — the same category MindWalk is targeting with its context layer, albeit at a far larger and more mature scale. These companies are referenced to illustrate the sector and do not imply any partnership, endorsement, affiliation, or comparable financial performance; they differ widely in approach, size, and stage, and MindWalk is among the smaller, earlier-stage names. References to Absci, Jones, and the other panelists describe the event only and do not imply any endorsement or commercial relationship.The Investment Case — and the RisksThe bull case for the context-layer thesis is conceptually elegant. If models are destined to commoditize — and the pace at which capable AI models now proliferate suggests they might — then the enduring value in AI drug discovery accrues to whoever owns the trusted, connected biological foundation that every model and agent must rely on. A context layer, in that telling, becomes infrastructure: something pharma rents rather than rebuilds, with recurring revenue and compounding value as more data and more programs run through it. MindWalk's first recurring platform contract and its growing revenue are early evidence that customers may be willing to pay for exactly that.The risks, however, are substantial and should not be minimized. MindWalk is a small-cap company still posting operating losses as it transitions from a legacy wet-lab services business toward a scalable platform model. Its revenue, while growing, is modest in absolute terms, and the company depends on converting engagement into contracted, recurring arrangements that have only just begun. It relies on third-party compute and cloud providers, faces intense competition from larger and better-funded players, and operates in a field where adoption of bio-native and agentic AI could prove slower than hoped. As with any clinical- or platform-stage life-sciences company, there is no certainty that the capabilities described will translate into commercial success, and forward-looking claims about the technology remain just that — forward-looking.A Sector Finding Its Real FoundationWhat makes this moment interesting is not any single company or any single panel. It is that the AI-drug-discovery field appears to be maturing past its first, model-obsessed phase into a more sophisticated understanding of where value actually lives. The lesson emerging from the first wave — that pointing powerful AI at messy biology produces confident nonsense — has pushed serious players toward the unglamorous but essential work of connecting and grounding biological knowledge. Whether the durable advantage ultimately sits in generative design, industrialized data generation, physics-based simulation, or a connected context layer is precisely the question a panel like the one on June 15 exists to debate.MindWalk has placed a clear, focused bet on the context layer — that in the age of agentic AI, the biology has to be connected and trustworthy before a model ever acts on it, and that owning that foundation is the durable prize. It is an early-stage bet, with real execution and financing risk, and the market has yet to render its verdict. But the trajectory of the field is unmistakable: the conversation has moved from "whose model is biggest" toward "whose biology is most trustworthy," and the companies building that foundation are positioning themselves at what may prove to be the most defensible layer of the entire AI-medicine stack. For investors trying to understand where the next decade of drug discovery is headed, that shift is the story worth watching.SEE WHAT THE MARKET IS TALKING ABOUT BEFORE IT MOVESEagle Eye reads social, forum, and news chatter across thousands of investor conversations in real time — and surfaces the tickers the crowd is piling into, along with the sentiment and catalysts behind them.Explore Eagle Eye free (for now) at https://Eagle-Eye.devCONTACT:Equity Insiderinfo @therooster-2873SOURCES:[1] MindWalk Holdings Corp. — "MindWalk (NASDAQ: HYFT) CEO Dr. Jennifer Bath to Join Absci (NASDAQ: ABSI) and a Leading AI Compute Provider on Jones AI Day Panel…" (Business Wire, June 12, 2026; primary source for the panel, HYFT/ReefIQ/LensAI platform, Bath quote, 660M patterns / 25B relationships):
https://finance.yahoo.com/sectors/healthcare/articles/mindwalk-nasdaq-hyft-ceo-dr-130000157.html[2] MindWalk Holdings Corp. — "Launches ReefIQ™, a Biological Context Layer for AI Drug Discovery" (Business Wire, June 10, 2026; ReefIQ context-layer detail):
https://www.businesswire.com/news/home/20260610294167/en/MindWalk-Holdings-Corp.-NASDAQ-HYFT-Launches-ReefIQ-a-Biological-Context-Layer-for-AI-Drug-Discovery[3] MindWalk Holdings Corp. — "Reports Q3 Fiscal 2026 Financial Results" (Business Wire, March 12, 2026; $4.2M revenue +52% YoY, first recurring LensAI contract, subsidiaries):
https://www.businesswire.com/news/home/20260312858299/en/MindWalk-Holdings-Corp.-Reports-Q3-Fiscal-2026-Financial-Results[4] MindWalk Holdings Corp. — "ImmunoPrecise Rebrands as MindWalk, Announces NASDAQ Ticker Change to 'HYFT'" (Business Wire, Sept 3, 2025; rebrand, platform business-model shift):
https://www.businesswire.com/news/home/20250903938726/en/ImmunoPrecise-Rebrands-as-MindWalk-Announces-NASDAQ-Ticker-Change-to-HYFT[5] BioPharmaTrend — "Publicly Traded AI-driven Drug Discovery Companies" and related sector coverage (peer context: Absci, Recursion, Schrödinger, Certara):
https://www.biopharmatrend.com/artificial-intelligence/recent-ipos-among-ai-driven-platforms-for-drug-discovery-and-biotech-601/DISCLAIMER:Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a digital media distribution and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances.Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed by Equity Insider on behalf of MIQ. MIQ has been paid a fee for MindWalk Holdings Corp. advertising and digital media from Creative Direct Marketing Group ("CDMG"). This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this article or email as the basis for any investment decision. MIQ does not own shares of MindWalk Holdings Corp. but reserves the right to buy and sell shares of MindWalk Holdings Corp. at any time without any further notice. There may be 3rd parties who may have shares of MindWalk Holdings Corp., and may liquidate their shares which could have a negative effect on the price of the stock. We also expect further compensation as an ongoing digital media effort to increase visibility for the company; no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been reviewed and approved on behalf of MindWalk Holdings Corp. by CDMG; this is a digital media distribution.While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our publication is not trustworthy unless verified by their own independent research. Comparisons to other companies referenced in this publication are for contextual and illustrative purposes only and do not imply any partnership, endorsement, affiliation, or comparable financial performance. References to the Jones AI Day panel, Absci, and other panelists describe the event only and do not imply any endorsement, sponsorship, partnership, or commercial relationship. Forward-looking statements regarding technology, platform adoption, recurring revenue, clinical and preclinical outcomes, and market trends are subject to risks and uncertainties, and actual results may differ materially. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment. View original content to download multimedia:https://www.prnewswire.com/news-releases/the-quiet-bottleneck-in-ai-drug-discovery-isnt-the-model--its-the-biology-underneath-it-302800965.html Original: The Quiet Bottleneck in AI Drug Discovery Isn't the Model -- It's the Biology Underneath It

MindWalk (NASDAQ: HYFT) CEO Dr. Jennifer Bath to Join Absci (NASDAQ: ABSI) and a Leading AI Compute Provider on Jones AI Day Panel on the Future of AI Drug DiscoveryJune 12, 2026 9:00 AM
Business Wire MindWalk Holdings Corp. (“MindWalk”) (NASDAQ: HYFT), a bio-native AI company, today announced that President and Chief Executive Officer Dr. Jennifer Bath will join a virtual panel hosted by Jones, alongside Absci (NASDAQ: ABSI) and a leading AI compute provider, as part of Jones AI Day. The panel, “Partnering to Power the New Era of Drug Discovery,” will be held on Monday, June 15, 2026, at 12:00 p.m. ET. Moderated by Jones Research Senior Research Analysts Dr. Debanjana Chatterjee and Dr. Danya Ben-Hail, the panel will explore how the convergence of high-performance compute, native biological knowledge representations, and generative AI can dismantle longstanding barriers in drug discovery, including prolonged screening timelines and historically undruggable targets. MindWalk’s Perspective MindWalk is a biology company that built AI on top of 25 years of wet-lab expertise. Its HYFT® technology powers ReefIQ™, the biological context layer for life sciences, enriching biological data at ingestion and connecting it across a continuously evolving knowledge representation of 660 million biological patterns and 25 billion relationships, with the LensAI™ platform serving as the reasoning and application layer on top. Because predictions are grounded in evolutionary constraint rather than statistical correlation, the architecture is designed to keep both AI models and autonomous agents from hallucinating in the highest-consequence drug discovery workflows. On the panel, Dr. Bath is expected to discuss why the durable asset in biological AI is the enriched context layer rather than any individual model, and how that layer makes agentic AI trustworthy enough to deploy in regulated workflows. LensAI™ is already in contracted, recurring arrangements with life-sciences customers today. “The hardest problem in drug discovery was never a shortage of compute or models - it’s that biological data arrives fragmented, and a model reasoning over fragments will confidently get it wrong. Our work grounds that reasoning in what evolution has already constrained, so the biology is connected and real before a model ever acts on it. Paired with compute built for this kind of memory-heavy work, that’s what makes agentic AI trustworthy enough for the highest-consequence workflows. Biology, context, and compute - that convergence is what I’m looking forward to discussing,” said Dr. Jennifer Bath, PhD, Chief Executive Officer and President of MindWalk Holdings Corp. Panelists MindWalk (NASDAQ: HYFT): Dr. Jennifer Bath, PhD, Chief Executive Officer and President
Absci (NASDAQ: ABSI): Sean McClain, Founder and Chief Executive Officer
Leading AI compute provider: Senior healthcare and life-science strategy leadership Event Details Event: Jones AI Day Virtual Panel, “Partnering to Power the New Era of Drug Discovery”
Date and Time: Monday, June 15, 2026, 12:00 p.m. ET Format: Hosted as part of Jones AI Day (10:30 a.m. to 2:30 p.m. ET), featuring multiple leading AI drug discovery platforms Registration: Open to institutional investors through Jones. RSVP to Yuki Gonzalez: ygonzalez@jonestrading.com About MindWalk Holdings Corp. MindWalk Holdings Corp. (NASDAQ: HYFT) is a Bio-Native AI company building the BioIntelligence infrastructure that life sciences AI and agentic AI require. Its proprietary HYFT® system powers ReefIQ™, the biological context layer for life sciences — a function-aware representation organized around HYFT pattern-objects that span sequence and structural biology. Refined over 20 years of curation, this continuously evolving knowledge representation of 660 million biological patterns and 25 billion relationships enriches data at ingestion and compounds in analytical value with every program run on the platform. The LensAI platform operates on this infrastructure to enable target discovery, candidate diligence, and portfolio decision support, and to host the agentic AI workflows pharma is racing to deploy. MindWalk’s architecture is designed so that the HYFT representation layer — not any individual AI model — is the durable, compounding competitive asset. References to “MindWalk” in this release refer to MindWalk Holdings Corp. and its subsidiaries, including BioStrand BV, which operates under the MindWalk brand, as the context requires. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of applicable United States securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements are often identified by terms such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “targets,” “will,” “is designed to,” or similar expressions, or by statements that certain actions, events, or results are expected, are intended, or will occur or be achieved. Forward-looking statements in this press release include, without limitation, statements regarding: Dr. Bath’s participation in the Jones AI Day virtual panel and the anticipated timing, format, and topics of the event; expectations regarding the convergence of high-performance compute, biological representations, and generative and agentic AI in life sciences; the characterization of the HYFT® system as powering ReefIQ™, the Company’s biological context layer for life sciences, and of LensAI™ as the reasoning and application layer; the characterization of the biological representation and its scale (660 million biological patterns and 25 billion relationships) and of ReefIQ™ enrichment as enriching data at ingestion and compounding in analytical value over time; the design of the Company’s architecture to keep AI models and autonomous agents from hallucinating and to make agentic AI trustworthy enough to deploy in regulated, high-consequence workflows; and the existence, conversion, and expansion of contracted, recurring arrangements with life-sciences customers. References to Jones, Absci, and the other panelists are descriptive of the event and do not imply any endorsement, sponsorship, partnership, commercial agreement, or financial relationship, except as expressly stated. Statements, data, or opinions attributable to other panelists or their respective companies—including any analyst rating, price target, or research opinion—are not those of MindWalk, and MindWalk does not adopt, endorse, or undertake to update them. Forward-looking statements are based on management’s current expectations and on assumptions that management believes are reasonable, including assumptions regarding continued customer demand for and adoption of the Company’s platform, the Company’s ability to maintain and scale its technology and infrastructure (including reliance on third-party compute and cloud providers), and the absence of material adverse changes in its business or markets. Such statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially, including, without limitation: that the event may be rescheduled, modified, or cancelled; that adoption of Bio-Native and agentic AI may be slower than anticipated; the Company’s ability to convert engagement into, and to maintain and expand, contracted recurring arrangements; reliance on third-party compute, cloud, and infrastructure providers; competitive dynamics in AI infrastructure and life sciences; intellectual property risks, including patent prosecution and trademark clearance for the ReefIQ™ name; regulatory determinations; and capital markets conditions. There can be no assurance that any candidate, program, or capability referenced will achieve the results described or will be developed, validated, approved, or commercialized. Additional information regarding risks and uncertainties is available in MindWalk’s Annual Report on Form 20-F and other filings on SEDAR+ (sedarplus.ca) and EDGAR (sec.gov/edgar). Forward-looking statements speak only as of the date of this press release. Except as required by law, MindWalk undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Nothing in this press release constitutes investment, legal, or tax advice, and this press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. Trademarks HYFT® is a registered trademark of MindWalk Holdings Corp. ReefIQ™ and LensAI™ are trademarks of MindWalk Holdings Corp. or its subsidiaries; ReefIQ™ registration is pending. All other trademarks are the property of their respective owners. Source: MindWalk Holdings Corp View source version on businesswire.com: https://www.businesswire.com/news/home/20260612600127/en/ Investor Relations Contact
Louie Toma, CPA, CFA
Managing Director, CoreIR
investors@mindwalkai.com Original: MindWalk (NASDAQ: HYFT) CEO Dr. Jennifer Bath to Join Absci (NASDAQ: ABSI) and a Leading AI Compute Provider on Jones AI Day Panel on the Future of AI Drug Discovery

MindWalk Holdings Corp. (NASDAQ: HYFT) Launches ReefIQ™, a Biological Context Layer for AI Drug DiscoveryJune 10, 2026 9:16 AM
Business Wire ReefIQ turns fragmented biological data into governed, queryable context for AI-enabled drug discovery and biologics development. MindWalk Holdings Corp. (“MindWalk”) (NASDAQ: HYFT), a bio-native AI company, today launched ReefIQ™, a HYFT-powered biological context layer for AI drug discovery and biologics development, that sits between client discovery data and AI reasoning workflows. Biology is connected, but drug-discovery data is often fragmented across files, formats, systems, teams, and workflows. ReefIQ reconnects those representations before AI workflows act on them, linking fragmented data into MindWalk's biological representation foundation. Sequences, structures, assay outputs, omics, literature, evidence, provenance, and program history are transformed into a governed, queryable connected biological context for AI-enabled discovery. "In life-sciences AI, the durable advantage is not the model a team licenses but the biological context it can reason over. Biology is connected by evolutionary constraint; discovery data arrives fragmented across files and systems, and that gap is where insight is lost. ReefIQ is designed to close it, preserving what every program learns, including the programs that fail, as governed context rather than isolated files. In a regulated setting, that is what makes reasoning trustworthy, and trustworthy is what compounds into the clinic," said Dr. Jennifer Bath, PhD, CEO and President of MindWalk Holdings Corp. LensAI and customer-selected agent models can then retrieve, analyze, and generate hypotheses from connected biological context rather than isolated files. HYFT® is MindWalk’s core biological pattern technology. It provides the underlying biological representation foundation with explicit relationships across sequence, structure, function, mechanism, pathway, evidence, and literature. ReefIQ™ is the client biological context layer built on HYFT. It harmonizes client discovery data, links it to MindWalk’s biological representation foundation, preserves provenance and program history, and exposes governed, queryable context to LensAI and customer-selected agent models. LensAI™ is the reasoning and application layer. It uses ReefIQ’s connected biological context to support retrieval, analysis, target discovery, candidate diligence, hypothesis generation, and portfolio decision support. HYFT powers the biological representation. ReefIQ organizes and governs the context. LensAI applies reasoning workflows. Why this layer matters
Drug-discovery organizations generate valuable context in every program: positive results, negative results, assay conditions, design decisions, mechanism hypotheses, literature links, and reasons candidates did not advance. ReefIQ preserves that context as governed, queryable knowledge. As data are added, the network is enriched and its relationships and annotations are refined. Future programs benefit from the ever-compounding evidence and insights. Inspired by cumulative biological systems
A reef grows by connecting what came before into a living structure. ReefIQ uses that metaphor for scientific knowledge: each dataset, result, program, and piece of evidence can become part of a governed context layer for future discovery. “ReefIQ operationalizes the HYFT information network for drug discovery,” said Dirk Van Hyfte, MD, PhD, Chief Technology Officer of MindWalk. “HYFT provides the biological representation foundation, representing the complex relationships in biology; ReefIQ links customer data to that foundation and exposes governed context to LensAI and customer-selected agent models operating within agreed governance. The goal is to support retrieval, analysis, and hypothesis generation over connected biological context while preserving provenance, deployment flexibility, and customer-defined controls.” What comes next
ReefIQ™ is designed to become the foundation for MindWalk's future life-sciences engagements: a HYFT-powered biological context layer beneath LensAI™ and client-selected model or agent workflows. The architecture supports flexible integration across data governance, model access, and compute deployment. LensAI is already in contracted, recurring arrangements with life-sciences customers today. Interested parties may request a private briefing through Investor Relations. For more information about the technology, please visit: https://www.mindwalkai.com/reefiq About MindWalk Holdings Corp.
MindWalk Holdings Corp. (NASDAQ: HYFT) is a bio-native AI company building the BioIntelligence infrastructure that life sciences AI and agentic AI require. Its proprietary HYFT® system powers ReefIQ™, the biological context layer for life sciences, a function-aware representation organized around HYFT pattern-objects that span sequence and structural biology, refined over 20 years of curation by a continuously evolving Knowledge Graph of 660 million biological patterns and 25 billion relationships, that enriches data at ingestion and compounds in analytical value with every program run on the platform. The LensAI™ platform operates on this infrastructure to enable target discovery, candidate diligence, and portfolio decision support, and to host the agentic AI workflows pharma is racing to deploy. MindWalk's architecture is designed so that the HYFT representation layer, not any individual AI model, is the durable, compounding competitive asset. Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable United States and Canadian securities laws. Forward-looking statements are often identified by terms such as "expects," "intends," "plans," "anticipates," "believes," "estimates," "targets," or similar expressions. Forward-looking statements in this press release include, without limitation, statements regarding: the launch and branding of ReefIQ, the Company's biological context layer for life sciences, including trademark clearance of the product name; the characterization of ReefIQ as a HYFT-powered biological context layer that sits between client discovery data and AI reasoning workflows, of HYFT as the technology that powers the biological representation, and of LensAI as the reasoning and application layer that operates over that context; the description of an architecture intended to support flexible integration across data governance, model access, and compute deployment in regulated life-sciences workflows; the characterization of the Knowledge Graph's scale (660 million biological patterns and 25 billion relationships) and of ReefIQ enrichment as compounding in analytical value over time; statements regarding contracted, recurring arrangements with life-sciences customers; and the Company's business development objectives. Forward-looking statements are based on management's current expectations and assumptions and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially, including: risks relating to the branding, market acceptance, and commercial outcomes of ReefIQ, including trademark availability and clearance for the ReefIQ name; the build-out and certification of compliance capabilities for regulated workloads; the ability to convert engagement into contracted arrangements; the technical performance of AI-based discovery methods and of the underlying compute infrastructure; the ability to enter into pharmaceutical, infrastructure, or other partnership arrangements; competition; intellectual property risks; regulatory determinations; and capital markets conditions. Additional information is available in MindWalk's Annual Report on Form 20-F and other filings on SEDAR+ (sedarplus.ca) and EDGAR (sec.gov/edgar). Except as required by law, MindWalk undertakes no obligation to update any forward-looking statement. Nothing in this press release constitutes investment advice. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Trademarks: HYFT® is a registered trademark of MindWalk Holdings Corp. LensAI™, ReefIQ™, HYFT Base™, HYFT Matrix™, HYFT Prime™, and B cell Llama™ are trademarks of MindWalk Holdings Corp. or its subsidiaries. Source: MindWalk Holdings Corp. View source version on businesswire.com: https://www.businesswire.com/news/home/20260610294167/en/ Investor Relations, Louie Toma, CPA, CFA, Managing Director, CoreIR, investors@mindwalkai.com Original: MindWalk Holdings Corp. (NASDAQ: HYFT) Launches ReefIQ™, a Biological Context Layer for AI Drug Discovery

MindWalk's Preclinical Dengue Data Support a HYFT® Computational Prediction: Immunogens Designed on the Predicted Target Elicited Cross-Reactive Antibodies Against Antigens of All Four Dengue Serotypes, Reproduced Across Two Independent CampaignsJune 2, 2026 7:20 AM
Business Wire HYFT® technology computationally identified and prioritized a pan-serotype dengue target before immunization. Preclinical data support the prediction at the binding level: immunization with immunogens designed on the predicted target elicited antibodies that cross-react with antigens of all four dengue serotypes, and scrambled-sequence controls support that the response is specific to the designed immunogen rather than background reactivity. MindWalk Holdings Corp. (Nasdaq: HYFT) today reported preclinical dengue data that support a computational prediction its HYFT® platform generated before any animal was immunized. HYFT® computationally identified a candidate pan-serotype structural target on the dengue virus. The subsequent immunization data support that prediction at the antibody-binding level: animals immunized with immunogens designed on the predicted target generated antibodies that cross-reacted with antigens of all four dengue serotypes — a clear and consistent trend, reproduced at the cohort level across two independent campaigns that used distinct immunogen formats and adjuvants. Scrambled-sequence controls did not show the same cross-serotype recognition, indicating the response was specific to the designed immunogen. The result carries implications beyond the dengue program. AI-driven drug discovery depends on biological ground truth — experimentally grounded signal connecting a computational prediction to a measurable outcome in living systems. That substrate has been largely absent from the field: generated inconsistently, outside regulated frameworks, and rarely structured to meet the demands of enterprise AI deployment. The HYFT® platform is designed to produce it. Today's data are MindWalk's first public evidence that it can. Today's data document the platform delivering on its fundamental claim: HYFT® technology computationally prioritized the pan-serotype target before immunization, the experiment supported the binding-level prediction, and the experimentally supported target now anchors MindWalk's dengue pipeline IP position as a persistent asset within the company's Biointelligence Platform. The same predictive capability applied in dengue is being deployed across MindWalk's influenza program and other announced programs where multi-strain coverage presents the analogous design challenge. "The central question for any AI drug discovery platform is whether its computational predictions correspond to real biology," said Dr. Jennifer Bath, PhD, Chief Executive Officer and President of MindWalk Holdings Corp. "HYFT® is built to identify functional patterns that are constrained by biophysical reality — patterns that evolution cannot easily escape because they are tied to structural and binding requirements. We identified the dengue target region not because it appeared conserved at the sequence level, but because HYFT® recognized it as functionally constrained in a way that conventional sequence analysis would not prioritize. “When animals immunized with immunogens built around that prediction produced antibodies that recognized antigens from all four dengue serotypes — and scrambled-sequence controls did not — the prediction was supported in a live immunological system. That is a closed prediction-to-result loop, and it is the first time we have documented one on this vaccine platform. The antibodies’ functional profile — whether they neutralize virus and how they interact with ADE pathways — is what the next body of work will determine. What the current result tells us is that the platform identified real biology. The question now is how broadly that capability holds.” The Market: An Unsolved Pan-Serotype Problem in a High-Burden Infectious Disease Dengue infects an estimated 400 million people annually across four antigenically distinct serotypes. Approved dengue vaccines reach only previously seropositive populations because cross-reactive antibodies against one serotype can enhance, rather than neutralize, disease upon first exposure to a second — antibody-dependent enhancement (ADE). The unsolved pan-serotype problem has kept a significant portion of the endemic seronegative population outside the addressable market for dengue vaccination, and has made a validated pan-serotype immunogen IP position the critical upstream asset for every next-generation dengue vaccine, broad dengue antibody, and pan-flaviviral platform program in development. Identifying that position requires operating below the level of sequence homology. Serotype-to-serotype sequence identity across dengue envelope domain III (EDIII) ranges from 74 to 83 percent — high enough to generate broadly cross-reactive antibodies, insufficient to distinguish a functionally constrained pan-serotype target from a cross-reactive decoy. HYFT® is designed to make that distinction. Rather than relying on sequence alignment or predicted immunogenicity — the parameters conventional target selection leans on — HYFT® identifies functional patterns shaped by biophysical constraints: structure, charge distribution, and binding geometry that remain conserved despite evolutionary diversification because biology cannot easily abandon them. Within MindWalk's Biointelligence Platform, these HYFT® patterns function as biological anchor points that connect sequence information to structural context, literature-supported biology, and experimental evidence. That connection is made through LensAI™, MindWalk's contextualization and reasoning layer, and the Company's Knowledge Graph — a persistent biological intelligence layer that accumulates and links evidence across programs. The significance of the current dengue data is therefore broader than a single dengue vaccine-design experiment: it provides initial experimental evidence for a repeatable discovery loop in which computationally prioritized biological patterns are tested in vivo, and the resulting evidence can be reused across future discovery programs. The current data support cross-serotype antibody recognition at the binding level; future studies will determine whether these antibodies neutralize virus and assess their relationship to antibody-dependent enhancement. “Animals immunized with the immunogens we designed around the HYFT®-identified target generated antibody responses that recognized antigens from all four dengue serotypes, while scrambled-control immunizations did not show the same cross-serotype recognition profile,” said Dirk Van Hyfte, MD, PhD, Chief Technology Officer of MindWalk Holdings Corp. "HYFT® computationally prioritized the target region before immunization, and the subsequent antibody-binding data are consistent with that prediction. For MindWalk, the important result is not only the observed binding response, but also the demonstration that computational biological anchors can be connected to structural analysis, immunogen design, experimental readouts, and a reusable evidence layer." Platform Implications MindWalk's Biointelligence Platform is built around three complementary components. HYFT® identifies biologically meaningful anchor patterns across sequence and structural space. The Knowledge Graph connects those patterns to structural, functional, literature, and experimental evidence. LensAI™ provides the contextualization and reasoning layer that enables scientists and AI models to operate over a common biological representation. Together, these components are designed to create a reusable biological intelligence infrastructure rather than a workflow optimized for any single disease program. MindWalk's Knowledge Graph currently contains hundreds of millions of biological patterns and tens of billions of biological relationships accumulated through years of biological data integration and enrichment. Each experimentally supported result contributes additional evidence to this growing representation, strengthening its potential value across future programs in infectious disease, immunology, protein engineering, and therapeutic discovery. The dengue study also demonstrates the platform's ability to identify both broadly conserved and biologically differentiated patterns within the same analytical framework — a capability particularly relevant to discovery programs where balancing broad coverage and selective targeting represents a central design challenge. About MindWalk Holdings Corp. MindWalk Holdings Corp. (NASDAQ: HYFT) is a bio-native AI company building the biological intelligence infrastructure that life sciences AI and agentic AI require. Its proprietary HYFT system functions as the AI-ready data substrate for life sciences -- a function-aware representation organized around HYFT pattern-objects that span sequence and structural biology, refined over 15 years of curation by a continuously evolving Knowledge Graph of 660 million biological patterns and 25 billion relationships, that enriches data at ingestion and compounds in analytical value with every program run on the platform. The LensAI platform operates on this infrastructure to enable target discovery, candidate diligence, and portfolio decision support, and to host the agentic AI workflows pharma is racing to deploy. MindWalk’s architecture is designed so that the HYFT representation layer -- not any individual AI model -- is the durable, compounding competitive asset. The Company operates antibody discovery sites in Victoria, British Columbia and Fargo, North Dakota. Forward-Looking Statements This press release contains forward-looking statements within the meaning of applicable United States and Canadian securities laws. Forward-looking statements are often identified by terms such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “targets,” or similar expressions, or by statements that certain actions, events, or results are expected to occur or be achieved. Forwardlooking statements in this press release include, without limitation, statements regarding: the current status and anticipated advancement of the Company’s wholly owned pan-serotype Dengue program, which is at the preclinical, in vivo proof-of-concept stage; the anticipated characterization of whether the cross-reactive binding antibodies described in this release neutralize virus and of their relationship to antibody-dependent enhancement (ADE), as to which no results have been disclosed; the interpretation of the preclinical binding data as supporting a computational prediction generated by the HYFT® platform before immunization; the characterization of HYFT® pattern-objects and the LensAI™ platform as capable of identifying functionally constrained biological targets and of supporting a repeatable discovery loop whose resulting evidence can be reused across future programs; the characterization of the experimentally supported dengue target as a persistent asset within the Company’s Biointelligence Platform and The Knowledge Graph; the application of the same predictive capability across the MindWalk Holdings Corp. | Nasdaq: HYFT | Page 4 Company’s influenza program and other announced programs where multi-strain or multi-serotype coverage presents an analogous design challenge; the characterization of The Knowledge Graph’s scale (660 million biological patterns and 25 billion relationships); the anticipated provision of pipeline updates as milestones are reached; and statements regarding the structural, functional, or competitive characteristics of the HYFT® biological pattern system and the LensAI™ platform. Cross-reactive antibody binding observed in preclinical studies does not ensure that such antibodies will neutralize virus, will avoid antibody-dependent enhancement, or will translate into clinical advancement or commercial success of any program. Forward-looking statements are based on management’s current expectations and assumptions and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially, including: risks relating to the outcome of ongoing and future in vivo studies, neutralization assays, and ADE characterization; the ability to advance programs from proof-of-concept to clinical development; regulatory determinations; competition; intellectual property risks; the technical performance of AI-based discovery methods; the ability to enter into pharmaceutical or other partnership arrangements; and capital markets conditions. Additional information is available in MindWalk’s Annual Report on Form 20-F and other filings on SEDAR+ (sedarplus.ca) and EDGAR (sec.gov/edgar). Except as required by law, MindWalk undertakes no obligation to update any forwardlooking statement. Nothing in this press release constitutes investment advice. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Trademarks HYFT®, LensAI™, HYFT Base™, HYFT Matrix™, HYFT Prime™, and B cell Llama™ are trademarks of MindWalk Holdings Corp. or its subsidiaries. All other trademarks are the property of their respective owners. Source: MindWalk Holdings Corp. View source version on businesswire.com: https://www.businesswire.com/news/home/20260602948506/en/ Investor Contact
Louie Toma, CPA, CFA
Managing Director, CoreIR
investors@mindwalkai.com Original: MindWalk's Preclinical Dengue Data Support a HYFT® Computational Prediction: Immunogens Designed on the Predicted Target Elicited Cross-Reactive Antibodies Against Antigens of All Four Dengue Serotypes, Reproduced Across Two Independent Campaigns

The Biology Came First.May 18, 2026 8:34 AM
Business Wire Over 20 partner-owned drug programs have reached clinical trials as a result of antibody discovery work performed by MindWalk scientists — ten currently in active Phase 1–3. The same scientific depth and biological intelligence infrastructure behind that record drives the Company's work today. MindWalk Holdings Corp. (NASDAQ: HYFT) today released a systematic report identifying over 20 discovery-originated drug candidates with documented origins in antibody discovery work performed at MindWalk facilities. Ten of these programs are in active clinical trials, spanning Phase 1 through Phase 3 across oncology, immunology, neurology, and infectious disease. In every case, the clinical asset is wholly owned, advanced, and funded by the partner. MindWalk’s contribution was the molecule itself — the immunization strategy, the discovery campaign, the lead identification, and the candidate selection that made clinical entry possible. In select cases that contribution extended into early development. The same wet-lab and AI capabilities that produced these programs are available to MindWalk’s partners today and are the foundation of the Company’s own proprietary portfolio. The full report, available Here, identifies each partner by program. The significance of this record extends beyond the clinical count. The more than 400 peer-reviewed publications and patents produced through this work establish a scientific standard that is rare in this industry: a discovery capability that has consistently produced partner-owned clinical-stage assets across therapeutic areas and modalities. That standard is the measure against which MindWalk holds every subsequent capability, including B cell Llama™ camelid nanobody discovery and the HYFT® biological intelligence infrastructure. The HYFT® system and LensAI™ platform were developed independently as a purpose-built AI architecture — not derived from the wet-lab programs, but subsequently integrated with them, and now embedded in every internal MindWalk program. The Knowledge Graph that underpins HYFT® — 660 million biological patterns, 25 billion relationships, refined over 20 years of curation — is not a general-purpose AI substrate trained on public data. It is a function-aware representation of biological sequence space, built on biological pattern recognition derived from the breadth of the global biosphere, and now operating in direct integration with the wet-lab discovery workflows that produced these programs. “Before AI was a hypothesis in life sciences, our scientists were generating the molecules that are now in clinical trials at our partners. That history is not a credential we display — it is a standard we hold ourselves to. When we bring a new capability into this organization, the question is always the same: can it meet the bar that wet-lab discovery set? HYFT® and LensAI™ were built by world-class scientists pursuing a singular focus: creating the most rigorous biological representation system ever developed. We integrated them because they cleared that bar. The result is a discovery organization where the biology and the AI interrogate each other — and where neither would be as good without the other.” — Dr. Jennifer Bath, PhD, Chief Executive Officer and President, MindWalk Holdings Corp. KEY FACTS 10 programs in active Phase 1–3 clinical trials; over 20 discovery-originated programs documented in total Clinical-stage programs include: ANX005 (Annexon Biosciences, Phase 3, Guilláin-Barré Syndrome, FDA Breakthrough Therapy designation); ARGX-119 (argenx, Phase 2/3, Congenital Myasthenic Syndrome); vudalimab / XmAb20717, XmAb306, XmAb808 (Xencor, Phase 1–2, solid tumors); CIT-013 (Citryll BV, Phase 2, rheumatoid arthritis and hidradenitis suppurativa); PMN310 (ProMIS Neurosciences, Phase 1b, Alzheimer’s disease); CLN-619 (Cullinan Oncology, Phase 1, solid tumors); OR502 (OncoResponse, Phase 1/2, solid tumors) Partners and collaborators include: Annexon Biosciences, argenx (NASDAQ: ARGX), Xencor (NASDAQ: XNCR), Citryll BV, ProMIS Neurosciences, Cullinan Oncology (NASDAQ: CGEM), OncoResponse, Sanofi Pasteur, Janssen Vaccines (Johnson & Johnson), Michael J. Fox Foundation, Perseus Science / ChemBio, IDEXX Laboratories (NASDAQ: IDXX) Discovery capability: Proprietary wet-lab antibody discovery across multiple modalities and species, including camelid VHH nanobody discovery via the B cell Llama™ platform — operating from MindWalk’s antibody discovery site in Victoria, British Columbia Biological intelligence infrastructure: HYFT® and LensAI™ were developed independently as a purpose-built AI architecture — built on biological pattern recognition derived from the breadth of the global biosphere — and subsequently integrated with MindWalk’s wet-lab discovery engine. The Knowledge Graph indexes 660 million biological patterns and 25 billion relationships, refined over 15 years of curation — enriching biological data at ingestion and compounding in analytical value with every program run on the platform. Publication record: Over 400 peer-reviewed publications and patents, originally published under ImmunoPrecise Antibodies (NASDAQ: IPA), Modiquest Research, and related entities, now operating as MindWalk Holdings Corp. (NASDAQ: HYFT) — reflecting a consistent scientific output across therapeutic areas, modalities, and discovery disciplines. Independent analysis has identified data structure and orchestration as the gating factors for enterprise AI value and named drug discovery as the highest-consequence AI application environment — the category where reliability is paramount and the cost of a wrong answer is too high to absorb. MindWalk occupies that layer for life sciences. The HYFT® representation layer enriches biological data at ingestion and compounds in analytical value with every program run on the platform. That compounding is not a product claim. It is an architectural consequence of a substrate built on biological pattern recognition derived from the breadth of the global biosphere — and now operating in direct integration with the wet-lab discovery workflows that produced these programs. The Company will provide further updates on its biological intelligence infrastructure, commercial programs, and platform development in the coming months. Access the report: Discovery-to-Clinic ABOUT MINDWALK HOLDINGS CORP. MindWalk Holdings Corp. (NASDAQ: HYFT) is a bio-native AI company building the biological intelligence infrastructure that life sciences AI and agentic AI require. Its proprietary HYFT® system functions as the AI-ready data substrate for life sciences — a function-aware representation organized around HYFT pattern-objects that span sequence and structural biology, refined over 20 years of curation by a continuously evolving Knowledge Graph of 660 million biological patterns and 25 billion relationships, that enriches data at ingestion and compounds in analytical value with every program run on the platform. The LensAI™ platform operates on this infrastructure to enable target discovery, candidate diligence, and portfolio decision support, and to host the agentic AI workflows pharma is racing to deploy. MindWalk’s architecture is designed so that the HYFT® representation layer — not any individual AI model — is the durable, compounding competitive asset. The HYFT® system and LensAI™ platform are fully integrated with MindWalk’s antibody discovery engine, operating in direct integration with the wet-lab workflows that have consistently produced clinical-stage assets for partners across therapeutic areas and modalities. The Company operates its antibody discovery laboratory in Victoria, British Columbia; its biological AI and technology operations through BioStrand in Belgium; and United States offices in Fargo, North Dakota, Minneapolis, Minnesota, and Boston, Massachusetts. Trademarks: HYFT®, LensAI™, HYFT Base™, HYFT Matrix™, HYFT Prime™, B cell Llama™, B Cell Select® are trademarks of MindWalk Holdings Corp. or its subsidiaries. All other trademarks are the property of their respective owners. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of applicable United States and Canadian securities laws. Forward-looking statements are often identified by terms such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “targets,” or similar expressions, or by statements that certain actions, events, or results are expected to occur or be achieved. Forward-looking statements in this press release include, without limitation, statements regarding: the continuation and advancement of partner-owned clinical programs derived from MindWalk antibody discovery work; the characterization of MindWalk’s antibody discovery platform lineage and its translational record; the expected concurrent advancement of MindWalk’s B cell Llama™ camelid nanobody platform and the HYFT® / LensAI™ AI-native platform; the Company’s ability to apply native-repertoire wet-lab discovery and AI-native discovery to produce partner clinical-stage assets in the future; and statements regarding the competitive, structural, or functional characteristics and compounding value of the HYFT® biological pattern system and LensAI™ platform. Past success of one platform generation does not ensure clinical or commercial success of any other generation, including AI-native discovery. Forward-looking statements are based on management’s current expectations and assumptions and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially, including: risks relating to clinical trial outcomes at partner companies; partner program continuation or discontinuation; regulatory determinations; competition; intellectual property risks; the technical performance of AI-based discovery methods; and capital markets conditions. Additional information is available in MindWalk’s Annual Report on Form 20-F and other filings on SEDAR+ (sedarplus.ca) and EDGAR (sec.gov/edgar). Except as required by law, MindWalk undertakes no obligation to update any forward-looking statement. Nothing in this press release constitutes investment advice. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. View source version on businesswire.com: https://www.businesswire.com/news/home/20260518834439/en/ Investor Relations Contact
Louie Toma, CPA, CFA
Managing Director, CoreIR
investors@mindwalkai.com Original: The Biology Came First.

MindWalk Holdings Corp. publie ses résultats financiers du troisième trimestre 2026March 13, 2026 2:39 PM
Business Wire
Troisième trimestre consécutif de croissance des revenus en glissement annuel | Premier contrat annuel d'entreprise pour la plateforme LensAI™ | Lancement de la plateforme B cell Llama™ de découverte de nanocorps


MindWalk Holdings Corp. (Nasdaq : HYFT), une société d'IA bio-native axée sur la découverte de produits biologiques et le développement de médicaments optimisé par l'IA, annonce aujourd'hui ses résultats financiers pour le troisième trimestre de l'exercice 2026, clos le 31 janvier 2026. MindWalk tiendra sa téléconférence sur les résultats du troisième trimestre de l'exercice 2026 aujourd'hui à 10h30, heure de l'Est.


Le chiffre d'affaires du T3 s'établit à 4,2 millions de dollars, soit une augmentation de 52 % par rapport aux 2,7 millions de dollars du T3 de l'exercice 2025, marquant ainsi le troisième trimestre consécutif de croissance du chiffre d'affaires de MindWalk en glissement annuel. Le chiffre d'affaires aux États-Unis a doublé en glissement annuel pour atteindre 2,6 millions de dollars. Le plus grand client d'IA d'entreprise de la société a signé un contrat de plateforme LensAI d'un an, le premier contrat de revenu récurrent pour la plateforme dans l'histoire de la société, faisant ainsi passer une partie du chiffre d'affaires de MindWalk de revenus basés sur des projets à des revenus contractuels et récurrents.


« Ce trimestre, MindWalk a enregistré sa troisième hausse consécutive du chiffre d'affaires en glissement annuel et a fait avancer trois programmes de pipeline vers des lectures de données. Le chiffre d'affaires aux États-Unis a doublé en glissement annuel, reflétant notre orientation stratégique délibérée sur l'Amérique du Nord, y compris l'établissement d'opérations de services biologiques dans la région de Boston et de Cambridge et l'investissement commercial continu dans ce marché. Récemment, notre plus grand client d'IA d'entreprise a signé un contrat d'un an pour la plateforme LensAI, le premier du genre pour nous. LensAI est activement déployé dans l’ensemble de notre clientèle, et il s’agit d’une structure contractuelle que nous développons. »


— Dre Jennifer Bath, CEO et présidente, MindWalk Holdings Corp.


Faits financiers saillants du T3 2026




Indicateur






T3 2026






Commentaire








Chiffre d'affaires du T3 2026






4,2 millions $






vs 2,7 millions $ au T3 2025 (+52 %)








Chiffre d'affaires aux États-Unis






2,6 millions $






vs 1,3 million $ au T3 2025 (doublé en glissement annuel)








Chiffre d'affaires à ce jour (neuf mois)






11,4 millions $






vs 7,9 millions $ pour la même période de l'exercice précédent (+45 %)








Marge brute à ce jour






58 %






vs 53 % pour la même période de l'exercice précédent (+5 pp)








Marge brute du T3






59 %






vs 65 % pour la même période de l'exercice précédent








Perte nette issue des opérations poursuivies (T3)






3,9 millions $






vs 22,0 millions au T3 2025 (y compris 21,2 millions $ de dépréciation)








Trésorerie et équivalents de trésorerie






14,2 millions $






au 31 janvier 2026









 



Tous les chiffres sont en dollars canadiens. Relatif à la poursuite des activités, sauf indication contraire. Préparé conformément aux IFRS.







Faits saillants opérationnels et de la plateforme


Plateforme et commercial



Premier contrat pour la plateforme LensAI d'un an signé avec le plus grand client d'IA d'entreprise de MindWalk ; chiffre d'affaires comptabilisé mensuellement



Les services de la plateforme LensAI sont fournis directement aux clients dans toutes les opérations MindWalk



Le chiffre d'affaires pour les États-Unis a doublé en glissement annuel, reflétant l'orientation stratégique délibérée de la société sur l'Amérique du Nord, où la demande de produits biologiques optimisés par l’IA est concentrée et où l’environnement réglementaire est de plus en plus favorable aux partenaires nationaux. Cette orientation stratégique comprenait l'établissement d'opérations de services biologiques dans la région de Boston et de Cambridge et a orienté la décision de la société de céder ses opérations européennes en faveur de la croissance nord-américaine.



Lancement de la plateforme B cell Llama™



MindWalk annonce le lancement de B cell Llama™, une plateforme de découverte de nanocorps conçue sur l'isolement d'une cellule B des lamas immunisés. Les nanocorps VHH n’ont pas de chaîne légère, ce qui élimine le problème de l’appairage des chaînes qui a historiquement limité le développement d’anticorps bispécifiques et multispécifiques, un goulot d’étranglement reconnu sur un marché qui devrait dépasser 50 milliards de dollars d’ici à 2030.



MindWalk possède une expertise approfondie en nanocorps VHH construite après des années de travaux de découverte de produits biologiques. Une étude évaluée par des pairs et financée par des subventions publiée dans Biomacromolecules (American Chemical Society), menée en collaboration avec l'Université de technologie d'Eindhoven et le Centre médical de l'Université Radboud, présente de nouvelles conclusions :


Neutralisation démontrée d'une variante virale contre laquelle aucune thérapie d'anticorps cliniquement approuvée n'a montré d'activité



La molécule présentant l’affinité de liaison la plus forte dans les essais n’a produit aucune activité fonctionnelle, ce qui explique pourquoi la sélection des candidats fondée sur la fonction, et non l’affinité seule, est essentielle plus tôt dans le processus de découverte.






MindWalk détient le premier droit de commercialiser la propriété intellectuelle développée conjointement dans le cadre de la collaboration



Programme de vaccination contre la dengue



La dengue infecte 390 millions de personnes chaque année et est considérée comme l'une des dix principales menaces pour la santé mondiale par l'OMS. Il n'existe pas de vaccin contre la dengue approuvé par la FDA disponible aux États-Unis. Deux vaccins ont été mis le marché, et aucun ne génère d'immunité équilibrée pour les quatre sérotypes, le problème central non résolu en vaccinologie contre la dengue. L'approche de MindWalk identifie un seul épitope conservé partagé entre les quatre sérotypes, conçu pour remédier à cet échec au niveau de la conception.


Achèvement des études d'immunisation in vivo ; validation de la liaison, confirmant que les animaux immunisés ont produit des anticorps ciblant spécifiquement l’épitope de sérotype croisé conservé, avec des résultats attendus cette semaine



Après confirmation de liaison, le programme passe à l'examen des tests de neutralisation avec un collaborateur tiers indépendant pour évaluer la capacité du vaccin à neutraliser les sérotypes de la dengue



LensAI a identifié un seul épitope discontinu conservé dans les quatre sérotypes de la dengue, une cible non détectée par les outils conventionnels d’alignement séquentiel






Programme GLP-1



Activation in vitro du récepteur GLP-1 confirmée par un test indépendant effectué par un tiers ; les résultats démontrent une activité par rapport au sémaglutide, la thérapie GLP-1 leader sur le marché avec environ 29 milliards de dollars de ventes mondiales combinées en 2024.



Un traitement à double voie a été identifié, reliant la biologie du GLP-1 à une seconde voie de longévité non-chevauchante



Le programme progresse grâce aux conseils d'un important collaborateur pharmaceutique possédant une expertise reconnue dans ce domaine, les prochaines étapes confirmant l'élargissement des données in vitro, y compris des tests de stabilité, suivis d'une validation in vivo des profils d'innocuité.



Programme antigrippal



LensAI a maintenant examiné plus de deux mille séquences de grippe très diverses couvrant les types A et B, y compris les séquences d'origine aviaire et porcine, identifiant une seule caractéristique biologique conservée présente dans toutes les séquences analysées



programme progresse dans la fabrication du candidat principal in silico destiné à être utilisé dans les études de neutralisation, afin d’évaluer la capacité du vaccin à prévenir l’infection.



Financement d'actifs



Des conseillers juridiques et financiers ont été engagés pour concevoir des véhicules de financement structurés au niveau de l’actif dans l’ensemble du portefeuille propriétaire de MindWalk (y compris GLP-1, dengue et grippe) permettant des investissements ciblés au niveau du programme tout en préservant les fonds propres de la société mère



Téléconférence et webdiffusion

La webdiffusion en direct aura lieu le jeudi 12 mars 2026, à 10h30, heure de l'Est.

La téléconférence sera retransmise en direct sur le web et pourra être rediffusée via un lien fourni dans la section Événements des pages dédiées aux relations avec les investisseurs de la société à l’adresse suivante :

https://ir.mindwalkai.com/events-and-presentations/default.aspx


* Informations sur la webdiffusion *

Titre de l'événement : MindWalk Holdings Corp. – Third Quarter Fiscal Year 2026 Financial Results

Date de l'événement : 12 mars 2026, 10h30 heure de l'Est (États-Unis et Canada) (4h00 GMT)

URL des participants : https://events.q4inc.com/attendee/486881652


Pour suivre l'événement par téléphone :

États-Unis / international, numéro payant +1 (646) 307-1963

États-Unis, appel gratuit (800) 715-9871

Canada - Toronto (647) 932-3411

Canada - Toll-Free (800) 715-9871

Identifiant de la conférence : 3224490


Toute personne suivant la téléconférence est invitée à lire les rapports périodiques de la société disponibles sur le profil de l’entreprise sur www.sedarplus.ca et sur www.sec.gov, y compris la discussion des facteurs de risque et des résultats historiques des opérations et de la situation financière dans ces rapports.


À propos de MindWalk Holdings Corp.

MindWalk Holdings Corp. (Nasdaq : HYFT) est une société d'IA bio-native axée sur la découverte de produits biologiques et le développement de médicaments optimisé par l'IA. Le système de modèles biologiques HYFT® et la plateforme LensAI™ de la société fonctionnent sur la couche fonctionnelle invariante des séquences biologiques, les sous-séquences conservées essentielles à la fonction biologique, permettant la découverte de cibles, de candidats et d'informations auxquels les approches conventionnelles basées sur les séquences ne peuvent pas accéder. MindWalk opère par l'intermédiaire de filiales telles que MindWalk Biologics (Victoria, C.-B.), BioStrand (Belgique) et Talem Therapeutics (Dakota du Nord).


Déclarations prospectives

Le présent communiqué de presse contient des déclarations prospectives au sens des lois sur les valeurs mobilières applicables aux États-Unis et au Canada. Les déclarations prospectives sont souvent identifiées par des mots tels que « s’attend à », « a l'intention de », « planifie », « anticipe », « pense », « estime », « cible », « cherche à », « potentiel » ou expressions similaires, ou par des déclarations selon lesquelles certaines actions, événements ou résultats sont censés se produire ou être atteints.


Les déclarations prospectives contenues dans le présent communiqué de presse comprennent, sans s'y limiter, des déclarations concernant : l'interprétation et l'importance des observations découlant de l'application de la technologie HYFT® de la société ; l'identification, la caractérisation et la pertinence des modèles fonctionnels conservés et de la contiguïté fonctionnelle ; l'hypothèse que de tels modèles peuvent soutenir une conception rationnelle vers des immunogènes largement protecteurs, y compris dans les programmes de dengue et de grippe de la société ; la pertinence de la contiguïté fonctionnelle pour l'intelligence concurrentielle, la stratégie de propriété intellectuelle, le développement commercial et la prise de décision en matière de portefeuille ; le rôle prévu de l’analyse HYFT dans l’évaluation de la concurrence fonctionnelle, de l’exposition de la PI ou du risque de portefeuille ; l'intégration de HYFT au sein de la plateforme plus large de gestion des données et de raisonnement biologique de la société ; la portée, le calendrier et les résultats d’éventuelles activités de validation futures ; la croissance prévue des revenus, la commercialisation de la plateforme, les tendances des marges brutes et l'évolutivité des engagements de la plateforme LensAI™ ; la transition attendue des revenus liés aux projets vers les revenus contractuels et récurrents ; le calendrier, la conception et les résultats des activités de développement préclinique et clinique dans l'ensemble des programmes pipeliniers de la société, y compris les résultats attendus des tests de confirmation de liaison et de neutralisation multisérotypes pour le programme de vaccination contre la dengue et l'importance potentielle des résultats in vitro de l'agoniste des récepteurs GLP-1 par rapport au sémaglutide ; la portée et l'utilité prévues de la plateforme B cell Llama™ de découverte de nanocorps et sa pertinence pour le marché des thérapies bispécifiques, multispécifiques et CAR-T ; la conception, la structure et l'achèvement des véhicules de financement au niveau de l'actif pour les programmes exclusifs de la société, y compris le GLP-1, la dengue, la grippe et la plateforme B cell Llama™ ; et la capacité de la société à poursuivre, structurer ou compléter des investissements stratégiques, des collaborations, des arrangements commerciaux, des transactions de partenariat ou des opportunités de licence liées aux technologies ou programmes HYFT.


Les déclarations prospectives sont fondées sur les attentes, les hypothèses et les projections actuelles de la direction concernant les événements futurs et le rendement de la société. Les déclarations prospectives impliquent des risques connus et inconnus, des incertitudes et d'autres facteurs qui font en sorte que les résultats, les performances ou les réalisations réels diffèrent considérablement de ceux exprimés ou implicites. Ces facteurs comprennent, entre autres : la nature préliminaire et exploratoire des analyses informatiques et des observations in silico ; les limites des données, des données d'entrée ou des hypothèses analytiques disponibles ; le risque que des études de laboratoire, expérimentales ou de validation ultérieures ne reproduisent pas ou ne corroborent pas les observations rapportées ; incertitude quant à la pertinence biologique, à la robustesse ou à la généralisabilité des modèles fonctionnels identifiés ; le risque que les résultats in vitro , y compris les observations concernant l'activation des récepteurs GLP-1 par rapport au sémaglutide, ne se traduisent pas par des résultats in vivo ou cliniques ; le risque que les résultats du programme de neutralisation de la dengue, y compris la capacité d'obtenir une immunité équilibrée entre les sérotypes, ne soient pas atteints ou fassent l'objet d'une amélioration dépendante des anticorps ou d'autres résultats immunologiques défavorables ; les risques inhérents à la recherche et au développement thérapeutiques, y compris les défis liés à la traduction, à la validation, à la fabrication, à l'innocuité, à l’immunogénicité, à l’amplitude, à la durabilité ou à l’efficacité ; le risque que les décisions futures en matière de développement soient retardées, modifiées ou abandonnées ; les exigences et les incertitudes réglementaires ; la dépendance à l’égard de collaborateurs tiers, de laboratoires, de prestataires de services et de sources de données ; les risques en matière de propriété intellectuelle, y compris la capacité d'obtenir, de maintenir, de défendre et de faire respecter des brevets et d'autres droits de propriété ; développements concurrentiels ; la disponibilité, le calendrier et les modalités des instruments de financement au niveau des actifs ou d’autres solutions de financement, y compris le risque que ces structures ne puissent pas être achevées ou achevées à des conditions acceptables ; la capacité de conclure, de maintenir ou de faire respecter des collaborations, des accords de partenariat ou des accords commerciaux à des conditions acceptables ; et des conditions économiques, de marché, géopolitiques ou réglementaires plus larges.


Des informations supplémentaires sur ces risques et incertitudes ainsi que sur d'autres risques et incertitudes sont présentées dans le rapport annuel de la société sur le formulaire 20-F, tel que modifié, pour l'exercice clos le 30 avril 2025, disponible sur le profil SEDAR+ de la société à l'adresse www.sedarplus.ca et sur le profil EDGAR à l'adresse www.sec.gov/edgar.


Le lecteur est prié de ne pas se fier indûment aux déclarations prospectives. Sauf si la loi applicable l'exige, la société ne s'engage pas à mettre à jour ou à réviser les déclarations prospectives pour refléter de nouvelles informations, des événements futurs ou autrement.


Le présent communiqué de presse ne constitue pas une offre de vente ni la sollicitation d'une offre d'achat de titres.


Tous les chiffres financiers sont déclarés en dollars canadiens et se rapportent aux activités poursuivies, sauf indication contraire. MindWalk prépare ses états financiers conformément aux normes internationales d'information financière (IFRS).


Le rapprochement de la perte nette et du BAIIA ajusté est présenté dans le tableau ci-dessous :






Trimestre clos au









31 janvier











2026






 







2025






 







(en milliers)


$







$








Perte nette


(3 930






)







(21 521






)







Impôts sur le revenu


(18






)







(3 013






)







Amortissements


218






 







705






 







Désactualisation


—






 







3






 







Dépréciation d'actifs


—






 







21 184






 







Gain (perte) de change réalisé(e)


64






 







48






 







Charges d'intérêts


56






 







227






 







Intérêts et autres revenus (charges)


(30






)







183






 







Perte sur cession d'Europe B.V.


53






 







—






 







Gain (perte) de change non réalisé(e)


266






 







(80






)







Charges sur actions


257






 







70






 







BAIIA ajusté


(3 064






)







(2 194






)







*Tous les chiffres financiers sont en dollars canadiens (CAD), sauf indication contraire.




MINDWALK HOLDINGS CORP.




ÉTATS CONSOLIDÉS DE PERTES ÉTENDUES




(non vérifiés, en dollars canadiens)













 



 






 






Trimestre clos au

31 janvier






 






 






Neuf mois clos au

31 janvier






 








(en milliers, sauf pour les données en actions)






 






2026

$






 






 






2025

$






 






 






2026

$






 






 






2025

$






 








CHIFFRE D'AFFAIRES






 






 






4 158






 






 






 






2 728






 






 






 






11 443






 






 






 






7 879






 








COÛT DES VENTES






 






 






1 694






 






 






 






967






 






 






 






4 790






 






 






 






3 740






 








BÉNÉFICE BRUT






 






 






2 464






 






 






 






1 761






 






 






 






6 653






 






 






 






4 139






 








CHARGES






 






 






 






 






 






 






 






 






 






 






 






 








R&D






 






 






1 214






 






 






 






914






 






 






 






3 362






 






 






 






3 385






 








Ventes et marketing






 






 






1 800






 






 






 






1 138






 






 






 






4 409






 






 






 






2 754






 








Frais généraux et administratifs






 






 






3 124






 






 






 






2 864






 






 






 






9 490






 






 






 






9 072






 








Amortissement des immobilisations incorporelles






 






 






—






 






 






 






520






 






 






 






—






 






 






 






1 530






 








Dépréciation d'actifs






 






 






—






 






 






 






21 184






 






 






 






—






 






 






 






21 184






 








 






 






 






6 138






 






 






 






26 620






 






 






 






17 261






 






 






 






37 925






 








Perte avant autres revenus (charges) et impôts sur le revenu






 






 






(3 674






)






 






 






(24 859






)






 






 






(10 608






)






 






 






(33 786






)








AUTRES REVENUS (CHARGES)






 






 






 






 






 






 






 






 






 






 






 






 








Désactualisation






 






 






—






 






 






 






(3






)






 






 






—






 






 






 






(5






)








Revenus des subventions






 






 






15






 






 






 






—






 






 






 






34






 






 






 






138






 








Revenu d'intérêts et autres (charges)






 






 






30






 






 






 






(183






)






 






 






70






 






 






 






(302






)








Perte sur cession d'Europe B.V.






 






 






(53






)






 






 






—






 






 






 






(511






)






 






 






—






 








Perte de change non réalisée






 






 






(266






)






 






 






80






 






 






 






(305






)






 






 






(164






)








 






 






 






(274






)






 






 






(106






)






 






 






(712






)






 






 






(333






)








Perte avant impôt sur le revenu






 






 






(3 948






)






 






 






(24 965






)






 






 






(11 320






)






 






 






(34 119






)








Impôts sur le revenu






 






 






18






 






 






 






3 013






 






 






 






83






 






 






 






4 408






 








PERTE NETTE DES OPÉRATIONS POURSUIVIES






 






 






(3 930






)






 






 






(21 952






)






 






 






(11 237






)






 






 






(29 711






)








REVENU NET DES OPÉRATIONS ABANDONNÉES






 






 






—






 






 






 






431






 






 






 






1 153






 






 






 






1 638






 








PERTE NETTE POUR LA PÉRIODE






 






 






(3 930






)






 






 






(21 521






)






 






 






(10 084






)






 






 






(28 073






)








AUTRES REVENUS ÉTENDUS (PERTE)






 






 






 






 






 






 






 






 






 






 






 






 








Éléments qui seront reclassés ultérieurement en perte






 






 






 






 






 






 






 








Différence de change lors de la conversion d'opérations à l'étranger






 






 






(224






)






 






 






471






 






 






 






(83






)






 






 






376






 








PERTE ÉTENDUE POUR LA PÉRIODE






 






 






(4 154






)






 






 






(21 050






)






 






 






(10 167






)






 






 






(27 697






)








PERTE PAR ACTION DES OPÉRATIONS POURSUIVIES — DE BASE ET DILUÉE






 






 






(0,08






)






 






 






(0,67






)






 






 






(0,24






)






 






 






(1,01






)








REVENU PAR ACTION DES OPÉRATIONS ABANDONNÉES — DE BASE ET DILUÉ






 






 






—






 






 






 






0,01






 






 






 






0,02






 






 






 






0,06






 








NOMBRE MOYEN PONDÉRÉ D'ACTIONS EN CIRCULATION






 






 






46 515 653






 






 






 






32 851 233






 






 






 






46 274 659






 






 






 






29 367 687






 









MINDWALK HOLDINGS CORP.




ÉTATS CONSOLIDÉS DE LA SITUATION FINANCIÈRE




(non vérifiés, en dollars canadiens)













 



(en milliers)






 






31 janvier

2026

$






 






 






30 avril

2025

$






 








ACTIF






 






 






 






 






 






 








Actif à court terme






 






 






 






 






 






 








Trésorerie






 






 






14 072






 






 






 






10 665






 








Montants exigibles, nets






 






 






1 883






 






 






 






4 115






 








Créances fiscales






 






 






190






 






 






 






143






 








Inventaire






 






 






490






 






 






 






2 095






 








Recettes non facturées






 






 






936






 






 






 






548






 








Dépenses payées d'avance






 






 






1 244






 






 






 






1 188






 








 






 






 






18 815






 






 






 






18 754






 








Encaisse affectée






 






 






126






 






 






 






126






 








Dépôt sur l'équipement






 






 






26






 






 






 






502






 








Immobilisations corporelles






 






 






4 020






 






 






 






15 762






 








Immobilisations incorporelles






 






 






—






 






 






 






1 067






 








Écart d'acquisition






 






 






—






 






 






 






8 230






 








Total de l'actif






 






 






22 987






 






 






 






44 441






 








PASSIF






 






 






 






 






 






 








Passif à court terme






 






 






 






 






 






 








Comptes débiteurs et charges à payer






 






 






3 334






 






 






 






5 283






 








Recettes reportées






 






 






941






 






 






 






1 090






 








Impôts sur le revenu à payer






 






 






328






 






 






 






475






 








Baux






 






 






427






 






 






 






1 850






 








Paiements d'acquisition différés






 






 






—






 






 






 






314






 








 






 






 






5 030






 






 






 






9 012






 








Baux






 






 






3 097






 






 






 






11 553






 








Impôt différé sur le revenu






 






 






—






 






 






 






250






 








Total du passif






 






 






8 127






 






 






 






20 815






 








CAPITAUX PROPRES






 






 






 






 






 






 








Capital social






 






 






137 293






 






 






 






136 371






 








Excédent de contribution






 






 






13 298






 






 






 






12 833






 








Pertes cumulées et autres pertes étendues






 






 






3 133






 






 






 






3 216






 








Déficit cumulé






 






 






(138 864






)






 






 






(128 794






)








 






 






 






14 860






 






 






 






23 626






 








Total passif et capitaux propres






 






 






22 987






 






 






 






44 441






 









MINDWALK HOLDINGS CORP.




ÉTATS CONSOLIDÉS DES FLUX DE TRÉSORERIE




Pour les neuf mois clos au 31 janvier 2026 et 2025




(non vérifiés, en dollars canadiens)













 



(en milliers)






 






2026

$






 






 






2025

$






 








Activités d'exploitation :






 






 






 






 






 






 








Perte nette pour la période






 






 






(10 084






)






 






 






(28 073






)








Éléments n'affectant pas la trésorerie :






 






 






 






 






 






 








Amortissements






 






 






1 366






 






 






 






4 206






 








Impôts différés sur le revenu






 






 






12






 






 






 






(3 935






)








Désactualisation






 






 






—






 






 






 






8






 








Taux de change






 






 






360






 






 






 






159






 








Gain sur investissement






 






 






—






 






 






 






(7






)








Perte sur la vente d'Europe B.V.






 






 






511






 






 






 






—






 








Dépréciation d'actifs






 






 






—






 






 






 






21,184






 








Charges en actions






 






 






465






 






 






 






392






 








 






 






 






(7 370






)






 






 






(6 066






)








Variations de fonds de roulement hors trésorerie liées aux opérations :






 






 






 






 






 






 








Montants à recevoir






 






 






(929






)






 






 






306






 








Inventaire






 






 






(50






)






 






 






253






 








Recettes non facturées






 






 






(1 053






)






 






 






(759






)








Dépenses payées d'avance






 






 






(839






)






 






 






388






 








Comptes créditeurs et charges à payer






 






 






(929






)






 






 






(87






)








Impôts sur les ventes et sur le revenu à payer et à recevoir






 






 






625






 






 






 






(298






)








Recettes reportées






 






 






490






 






 






 






993






 








Encaisse nette utilisée dans les activités d'exploitation






 






 






(10 055






)






 






 






(5 270






)








Activités d'investissement :






 






 






 






 






 






 








Achats de biens et d'équipements






 






 






(387






)






 






 






(440






)








Paiements d'acquisition différés






 






 






(312






)






 






 






—






 








Produit de la vente d'Europe B.V.






 






 






14 255






 






 






 






—






 








Encaisse nette utilisée dans les activités d'investissement






 






 






13 556






 






 






 






(440






)








Activités de financement :






 






 






 






 






 






 








Produit de l'émission d'actions, net des coûts de transaction (frais ATM)






 






 






926






 






 






 






12 211






 








Remboursement des baux






 






 






(526






)






 






 






(1 142






)








Produit de l’émission de débentures, déduction faite des coûts de transaction






 






 






—






 






 






 






4 242






 








Encaisse nette issue des activités de financement






 






 






400






 






 






 






15 311






 








Augmentation de la trésorerie au cours de la période






 






 






3 901






 






 






 






9 601






 








Change






 






 






(494






)






 






 






(141






)








Trésorerie, début de période






 






 






10 791






 






 






 






3 545






 








Trésorerie, fin de période






 






 






14 198






 






 






 






13 005






 








La trésorerie comprend :






 






 






 






 






 






 








Trésorerie






 






 






14 072






 






 






 






12 915






 








Encaisse affectée






 






 






126






 






 






 






90






 








 






 






 






14 198






 






 






 






13 005






 








Trésorerie payée au titre des intérêts






 






 






—






 






 






 






—






 








Trésorerie payée au titre de l'impôt sur le revenu






 






 






—






 






 






 






—






 








Encaisse issue des activités abandonnées :






 






 






 






 






 






 








Encaisse nette utilisée dans les activités d'exploitation






 






 






777






 






 






 






1 587






 








Encaisse nette utilisée dans les activités d'investissement






 






 






(100






)






 






 






(253






)








Encaisse nette utilisée dans les activités de financement






 






 






(359






)






 






 






(638






)







Source: MindWalk Holdings Corp.


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Consultez la version source sur businesswire.com : https://www.businesswire.com/news/home/20260312540743/fr/
Relations avec les investisseurs

Louie Toma, CPA, CFA

Directeur général, CoreIR

investors@mindwalkai.com


Original: MindWalk Holdings Corp. publie ses résultats financiers du troisième trimestre 2026