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WILMINGTON, Del. - Brand Engagement Network, Inc. (NASDAQ:BNAI), a developer of AI agents for regulated industries with a market capitalization of $13.46 million, announced the appointment of Dr. Ruy Carrasco to its Board of Directors, effective September 18, 2025. Dr. Carrasco has served as the company’s Chief Medical Informatics Officer since 2021. According to InvestingPro data, the company faces significant financial challenges, with an EBITDA of -$28.88 million in the last twelve months.
The company also plans to demonstrate a new AI agent for insurance workflows at the upcoming Swiss Life Network Partners Conference in London, scheduled for September 23-25, 2025. This AI solution was developed in collaboration with Swiss Life and represents an application of BEN’s technology to enterprise-scale insurance operations.
"BEN is advancing with discipline and delivering with the global partners we’ve secured across the U.S., LATAM, and the EU," said Tyler Luck, Acting CEO, Co-Founder, and Head of Product.
The company disclosed in an SEC filing on September 17, 2025, that its previously announced transaction with Cataneo has been mutually terminated.
BEN’s technology focuses on human-like AI agents that enable enterprises to move from conversation to compliant action in regulated industries including insurance, financial services, healthcare, hospitality, and media/retail. The company’s Engagement Language Model operates in secure deployments using customer-approved data.
According to the press release statement, BEN currently works with organizations including Swiss Life, MedAdvisor Solutions, and Seven Visions - The Dvin, as well as partners in Latin America and South Africa.
In other recent news, Brand Engagement Network Inc. has made several significant leadership changes. The company appointed Janine Grasso as Interim Chief Executive Officer, succeeding Paul Chang, who will remain on the Board of Directors. Grasso, who has over 20 years of technology leadership experience, will continue her role on the board and brings a wealth of experience from her previous positions at DocuSign, Verizon, and IBM. Additionally, Bernard Puckett has been named interim chairman of the board, replacing Chris Gaertner, who will continue as a board member.
In regulatory news, Brand Engagement Network received a 180-day extension from Nasdaq to regain compliance with its minimum bid price requirement, giving the company until December 29, 2025, to meet the criteria. The company has also scheduled its 2025 Annual Meeting of Shareholders for July 22, 2025, to be held virtually. The meeting’s agenda includes the election of directors and the ratification of the company’s independent registered public accounting firm. These developments highlight a period of transition and regulatory focus for Brand Engagement Network.
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