SCHEDULE: Invus Group Discloses 9.4% Stake in Tenax Therapeutics

Raymond Debbane and affiliated entities, collectively known as the Invus Group, have reported a combined beneficial ownership of 9.4% in Tenax Therapeutics, Inc. common stock.

Summary

• Invus Public Equities, L.P. and its controlling entities (Invus Public Equities Advisors, LLC, Invus Global Management, LLC, Siren, L.L.C.) beneficially own 366,143 shares of Tenax Therapeutics, representing 8.0% of the class.
• Avicenna Life Sci Master Fund LP and its controlling entities (Avicenna Life Sci Master GP LLC, Ulys, L.L.C.) beneficially own 60,998 shares, representing 1.3% of the class.
• Mr. Raymond Debbane, as the managing member of Siren and Ulys, is deemed to beneficially own a total of 427,141 shares, representing 9.4% of the class.
• The beneficial ownership percentages are calculated based on 4,562,500 shares outstanding as of August 11, 2025, as reported in Tenax Therapeutics' Form 10-Q.
• The securities were not acquired or held for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: The disclosure of a significant passive stake by a reputable institutional investor group, while not directly impacting company operations, can be viewed as a moderately positive signal of investor confidence in Tenax Therapeutics.

Positives

• Significant institutional investor, Raymond Debbane and affiliated entities, have disclosed a substantial beneficial ownership stake of 9.4% in Tenax Therapeutics, indicating confidence in the company.

Negatives

• No explicit negative information is contained within this beneficial ownership report.

Risks

• The reporting persons certify that the securities were not acquired or held for the purpose of changing or influencing the control of the issuer, which mitigates immediate control-related risks but does not preclude future changes in investment intent.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding Tenax Therapeutics' future operations or financial performance.

Management Comments

• Raymond Debbane, as President of Invus Public Equities Advisors, LLC, and Chief Executive Officer of Avicenna Life Sci Master GP LLC, certified that the securities were not acquired or held for the purpose of changing or influencing the control of the issuer.

Industry Context

This filing reflects a standard institutional investment disclosure in the biotechnology or pharmaceutical sector, indicating that a significant investor group has taken a passive stake in Tenax Therapeutics. Such disclosures are common and provide transparency into major ownership positions, which can sometimes signal investor confidence in a company's long-term prospects within its industry.

Comparison to Industry Standards

• This filing is a standard Schedule 13G, which is a common regulatory disclosure for passive institutional investors acquiring more than 5% of a company's stock.
• The 9.4% stake held by Raymond Debbane and his affiliated entities is a notable position, placing them among the larger institutional holders, similar to how funds like Vanguard or BlackRock might disclose significant, passive stakes in various public companies.
• No specific comparable companies or projects are mentioned in this filing to assess results against industry benchmarks.

Stakeholder Impact

• Shareholders: Increased transparency regarding a significant institutional holder, potentially signaling investor confidence.
• Company Management: Awareness of a large, passive institutional investor on the shareholder register.

Next Steps

• The filing does not specify any future actions, events, or milestones for Tenax Therapeutics or the reporting persons beyond the ongoing passive ownership.

Key Dates

Recommendation

The disclosure of a 9.4% beneficial ownership stake by Raymond Debbane and his affiliated investment entities in Tenax Therapeutics indicates significant institutional interest. While this is a passive investment and does not suggest an intent to influence control, such a substantial position from a sophisticated investor group can be interpreted as a vote of confidence in the company's long-term value. However, a Schedule 13G filing alone does not provide operational or financial performance data to warrant a 'buy' or 'sell' recommendation. Therefore, a 'hold' recommendation is appropriate, acknowledging the positive signal of institutional backing while awaiting further fundamental updates on the company's business.

Keywords

Tenax Therapeutics, TNXP, Invus Public Equities, Raymond Debbane, Beneficial Ownership, Schedule 13G, Institutional Investor, Common Stock, Biotechnology, Pharmaceuticals