<?xml version="1.0" encoding="UTF-8"?><!-- Generated by Broadridge Transform (tm) - http://www.broadridge.com --><!-- Created: Fri Aug 28 00:21:33 UTC 2026 --><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:common="http://www.sec.gov/edgar/common">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001039765</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock, $0.0001 par value per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>08/19/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000034956</issuerCik>
        <issuerName>Tenax Therapeutics, Inc.</issuerName>
        <issuerCusips>
          <issuerCusipNumber>88032L605</issuerCusipNumber>
        </issuerCusips>
        <issuerPrincipalExecutiveOfficeAddress>
          <common:street1>101 Glen Lennox Drive, Suite 300</common:street1>
          <common:city>Chapel Hill</common:city>
          <common:stateOrCountry>NC</common:stateOrCountry>
          <common:zipCode>27517</common:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>ING Groep N.V.</reportingPersonName>
      <citizenshipOrOrganization>P7</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>2639666</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>2639666</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2639666</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>7.05</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
      <comments>* Based on the 37,423,917 shares of common stock of the issuer (the "Common Stock") as of July 28, 2026, as reported in the issuer's Quarterly Report on Form 10-Q for the period ended in June 30, 2026, filed with the Securities and Exchange Commission on July 31, 2026.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>

      <reportingPersonName>ING Capital Markets LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>2639666</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>2639666</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2639666</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <classPercent>7.05</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>* Based on the 37,423,917 shares of common stock of the issuer (the "Common Stock") as of July 28, 2026, as reported in the issuer's Quarterly Report on Form 10-Q for the period ended in June 30, 2026, filed with the Securities and Exchange Commission on July 31, 2026.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Tenax Therapeutics, Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>101 Glen Lennox Drive, Suite 300, Chapel Hill, North Carolina 27517, USA</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>ING Groep, N.V.
ING Capital Markets LLC</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>ING Groep N.V.
PO Box 1800
Amsterdam, P7
1000 BV Amsterdam

ING Capital Markets LLC
1133 Avenue of the Americas
New York, NY 10036
USA</principalBusinessOfficeOrResidenceAddress>
        <citizenship>ING Groep N.V. - The Netherlands

ING Capital Markets LLC - Delaware</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>ING Groep N.V. may be deemed to be the beneficial owner of 2,639,666 Common Stock, held by ING Capital Markets LLC, a wholly owned subsidiary of ING Groep N.V. ING Capital Markets LLC may be deemed to be the beneficial owner of 2,639,666 Common Stock.</amountBeneficiallyOwned>
        <classPercent>Each of ING Groep N.V. and ING Capital Markets LLC may be deemed to be the beneficial owner of approximately 7.05% of Common Stock issued and outstanding as of July 28, 2026, as reported in the issuer's Quarterly Report on Form 10-Q for the period ended in June 30, 2026, filed with the Securities and Exchange Commission on July 31, 2026.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>0</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>2639666</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>2639666</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>ING Groep N.V.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Andreea Albu</signature>
        <title>Andreea Albu, Authorized Representative</title>
        <date>08/27/2026</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ Ioana Adriana Barbu</signature>
        <title>Ioana Adriana Barbu, Authorized Representative</title>
        <date>08/27/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>ING Capital Markets LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Tyrel Tugade</signature>
        <title>Tyrel Tugade, Managing Director</title>
        <date>08/27/2026</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ Anthony Masciangelo</signature>
        <title>Anthony Masciangelo, Director</title>
        <date>08/27/2026</date>
      </signatureDetails>
    </signatureInformation>
  </formData>

</edgarSubmission>
