--- title: "Apimeds unit MindWave signs AssureChain deal with BlockAssure" url: "https://aibio.space/news/apimeds-unit-mindwave-signs-assurechain-deal-blockassure/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-10-04" section: "Company Updates" tickers: "AMEX:APUS" source: "https://www.sec.gov/Archives/edgar/data/1894525/000121390026108780/ea030825001ex99-1.htm" summary: "MindWave will build, run and host an insurance network for BlockAssure and receive development fees plus 20% of the AssureCoin supply." --- By the aibio.space news desk. Sources - [Apimeds Pharmaceuticals US, Inc. 8-K (2026-10-13)](https://www.sec.gov/Archives/edgar/data/1894525/000121390026108780/ea030825001ex99-1.htm) - [Apimeds Pharmaceuticals US, Inc. 10-K (2026-05-04): business](https://www.sec.gov/Archives/edgar/data/1894525/000121390026051139/ea0288344-10k_apimeds.htm) - [Apimeds Pharmaceuticals US, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1894525/000121390026051139/) [APUS](https://aibio.space/companies/apimeds-pharmaceuticals-us/) 2026-10-04 # Apimeds unit MindWave signs AssureChain deal with BlockAssure Tickers [APUS](https://aibio.space/companies/apimeds-pharmaceuticals-us/) MindWave will build, run and host an insurance network for BlockAssure and receive development fees plus 20% of the AssureCoin supply. ## Key facts - **Company**: Apimeds Pharmaceuticals US, Inc. (AMEX: APUS) - **News type**: Company Updates - **Primary source**: [Apimeds Pharmaceuticals US, Inc. 8-K (2026-10-13)](https://www.sec.gov/Archives/edgar/data/1894525/000121390026108780/ea030825001ex99-1.htm) *Researchers loading samples into an automated instrument. Photo: Centers for Disease Control and Prevention, CC0, via rawpixel. The picture shows the field, not the companies named.* Apimeds Pharmaceuticals US, Inc. reported in an 8-K that a press release from its wholly owned subsidiary, MindWave Innovations Inc. USA, was dated October 4, 2026. The release says MindWave signed a two-year master maintenance and service agreement with BlockAssure Inc., a Delaware corporation. The agreement covers building, deploying and operating AssureChain, a dedicated subnet of MindChain that will run BlockAssure's insurance and reinsurance operations on-chain. The release was distributed through IBN. The agreement took effect on October 4, 2026. Apimeds is listed on the NYSE American under the symbol APUS. The release describes the contract as an expansion of MindWave's U.S. business, taking its technology work into insurance and reinsurance. MindWave's chief executive, Dr. Vin Menon, said in the release that the contract is the kind of work the company wants to do for U.S. clients. ## The commercial terms MindWave will earn contracted development fees, payable in quarterly installments. Later operating and maintenance fees are to be agreed. The agreement also provides an allocation to MindWave equal to 20% of the total supply of AssureCoin, a digital token that BlockAssure plans to create within the MindChain network. That allocation is delivered when the token is created and is fully vested on delivery. Anti-dilution terms are meant to keep MindWave's 20% share if more AssureCoin is issued during the term or for two years afterward. For the length of the agreement, MindWave is BlockAssure's exclusive blockchain provider for AssureChain. The release says BlockAssure will lead underwriting and claims decisions, licensing, and its relationships with insurers, reinsurers and brokers. MindWave supplies the infrastructure and technical services and acts only as the technology provider. ## What AssureChain will do AssureChain has four modules and a data oracle. The modules cover insurance contracts, policy issuance and lifecycle management including premium and payment entries, reinsurance treaties and facultative placements, and claims processing from notification through settlement and reinsurance recovery. The oracle feeds verified parametric, environmental, catastrophe, market and identity data onto the network, so that a parametric claim can trigger automatically once a pre-agreed threshold is met. MindChain provides the settlement layer and anchors AssureChain's records to Ethereum. The release says each module will be independently security-audited before production, and that personal data will not be written on-chain except in hashed or tokenized form. Development is planned over four quarters against agreed milestones, with BlockAssure acceptance-testing each module. After the first module is accepted, MindWave takes on hosting, validator operations, maintenance, security patches and helpdesk support. The initial term is two years. The agreement then renews automatically for one-year periods unless either party gives 90 days' notice. ## The company and its background Apimeds completed a merger with MindWave that closed on December 1, 2025. Under that merger agreement, MindWave became a direct wholly owned subsidiary of Apimeds. The company's 10-K for 2025, filed May 4, 2026, describes the merger and related corporate actions, including a 1-for-10 reverse stock split approved by written consent of stockholders. The filing says the transactions triggered a change of control under NYSE American rules, which required a new listing application. ## Financial position SEC XBRL data show that for fiscal 2025 Apimeds reported research and development expense of $1.6 million and a net loss of $6.0 million. The fiscal 2024 net loss was $1.4 million. Cash from operations was negative $8.9 million in 2025 and negative $733,526 in 2024. Year-end 2025 cash and cash equivalents were $1.6 million, and year-end 2025 short-term investments were $2.0 million, according to a 10-Q filed August 14, 2026. The same 10-Q reports $278,371 of cash and cash equivalents at June 30, 2026. ## What the release does not say The release gives no dollar figure for the development fees, and the operating and maintenance fees are still to be agreed. The 20% AssureCoin allocation is a token that does not exist yet. BlockAssure only plans to create it, and the release says nothing about what it would be worth or whether it could be sold. This is a software contract for a blockchain subnet, not progress in a drug program, and the company's research spending was $1.6 million in 2025. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story APUS Apimeds Pharmaceuticals US, Inc. AMEX ยท United States Open the starter desk ## More in Company Updates Company Updates ### [PTC reports third-quarter 2026 revenue of $358 million and raises product guidance](https://aibio.space/news/ptc-reports-third-quarter-2026-revenue-358-million-raises-product/) Oct 29, 2026 Company Updates ### [Processa clears VT-7208 CSU IND and names a new executive chair](https://aibio.space/news/processa-clears-vt-7208-csu-ind-names-new-executive-chair/) Oct 29, 2026 Company Updates ### [Kiora in-licenses late-stage KIO-401 for retinal artery occlusion](https://aibio.space/news/kiora-licenses-late-stage-kio-401-retinal-artery-occlusion/) Oct 29, 2026 --- Source page: https://aibio.space/news/apimeds-unit-mindwave-signs-assurechain-deal-blockassure/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Apimeds unit MindWave signs AssureChain deal with BlockAssure", 2026-10-04, https://aibio.space/news/apimeds-unit-mindwave-signs-assurechain-deal-blockassure/