Recent Updates — APUS
MindWave Innovations Inc., a wholly owned subsidiary of Apimeds Pharmaceuticals US, Inc., entered into a two-year Master Service Agreement with BlockAssure Inc. MindWave will design, deploy, and maintain AssureChain, a dedicated blockchain subnet for recording and executing BlockAssure’s insurance contracts, reinsurance treaties, and claims processes. Consideration includes fixed development fees payable in quarterly installments, future operating and maintenance fees to be agreed upon, and an allocation of 20% of the total supply of AssureCoin, a digital token BlockAssure plans to create. The agreement automatically renews for successive one-year periods unless notice is given. Apimeds Pharmaceuticals US, Inc. operates in the pharmaceutical sector while its subsidiary MindWave develops blockchain technology infrastructure.
Apimeds Pharmaceuticals US, Inc. announced the immediate resignation of Interim Chief Financial Officer Erick Frim on September 29, 2026, citing no disagreements with company operations. The Board appointed Eric Sherb as Chief Financial Officer and Principal Accounting Officer effective October 1, 2026. Mr. Sherb brings over 18 years of capital markets experience and previously served as a fractional CFO for the Company's subsidiary. His new role includes an annual base salary of $60,000 under an executive employment agreement. Apimeds Pharmaceuticals US, Inc. operates in the pharmaceutical industry.
Apimeds Pharmaceuticals US, Inc. filed a Certificate of Amendment to effect a one-for-ten (1-for-10) reverse stock split of its common stock, effective July 24, 2026. The company reduced the par value from $0.01 to $0.001 per share. Outstanding shares decreased from 15,091,180 to 1,509,118, with an additional 33,506 shares issued to accommodate fractional share rounding. The split did not alter the authorized share count of 100 million common or 10 million preferred shares. Equity awards and warrants were proportionately adjusted. Apimeds Pharmaceuticals US, Inc. operates in the pharmaceutical industry, focusing on drug development.
Apimeds Pharmaceuticals US, Inc. filed a Current Report on Form 8-K disclosing the execution of an amendment to its Confidential Settlement and Mutual Release Agreement dated September 10, 2026. The amendment restructures the company's board composition, establishing an interim board of four directors who cannot be removed without consent from Dr. Vin Menon and the Inscobee Parties. Following this period, the board will expand to seven members, including independent directors nominated by MindWave Innovations Inc., two nominees from Dr. Menon (one being himself), and Sungjoon Chae. Concurrently, Sungjoon Chae was appointed to the Board of Directors effective September 10, 2026, pursuant to nominations by the Inscobee Parties under the settlement terms. Mr. Chae has served as Co-Chief Executive Officer since May 4, 2026 and holds degrees from the Illinois Institute of Technology and Harvard University with expertise in urban design and real estate development. Apimeds Pharmaceuticals US, Inc. operates in the pharmaceutical industry, focusing on drug discovery and development.
On August 19, 2026, Apimeds Pharmaceuticals US, Inc. entered into an Assignment and Transfer Agreement with FreeT Inc., acquiring specific rights to its lead asset, Apitox. The transaction grants the company 100% of rights for the Korean medicine clinic market in South Korea, a 25% royalty entitlement on U.S. economic proceeds from development or commercialization, and a 25% revenue participation right on net proceeds from overseas licensing agreements. Additionally, Apimeds secured rights to quarterly clinical progress updates and certain manufacturing data benefits. The company confirmed these assigned rights are free of prior encumbrances and assumes no pre-existing liabilities of FreeT. This strategic acquisition expands the company's intellectual property portfolio and potential revenue streams for its proprietary bee venom-based therapeutic candidate. Apimeds Pharmaceuticals US, Inc. operates in the biotechnology industry, focusing on the development of novel therapeutics derived from apitoxin.