NeOnc Technologies Signs $50 Million Strategic Partnership with Quazar Investment.

NeOnc Technologies has signed a definitive agreement for a $50 million strategic partnership with Quazar Investment. The partnership will support NeOnc's clinical-stage treatments for brain and central nervous system cancers. The agreement follows the company's board approving its participation in the investment and MENA region expansion. NeOnc's Executive Chairman and President, Amir Heshmatpour, expressed excitement about the partnership, calling it a "transformative step."

NeOnc Technologies Holdings, Inc. (NASDAQ: NTHI), a biotechnology company focused on transformative treatments for brain and central nervous system cancers, has signed a definitive agreement for a $50 million strategic partnership with Quazar Investment. The agreement follows the company's board approval for participation in the investment and expansion into the MENA region, reflecting continued momentum in the company's growth.

Under the terms of the agreement, Quazar Investment will acquire 1.4 million shares of NeOnc at $25 per share, representing a $35 million anchor position to be held in custody at Morgan Stanley. The remaining $15 million will be allocated for Phase 2B clinical trials and the buildout of critical infrastructure across the UAE and broader MENA region. The final formation of NuroMENA and NuroCure in Abu Dhabi is pending approval by the UAE government, which is a crucial condition for the transaction's completion.

Amir Heshmatpour, Executive Chairman and President of NeOnc Technologies, expressed excitement about the partnership, stating, "This definitive agreement sets the stage for accelerated global expansion and scientific innovation." Waleed Khalid Al Ali, Chairman and CEO of Quazar Investment, added, "Through our existing strategic partnerships within the UAE healthcare and regulatory ecosystem, Quazar is well-positioned to accelerate NeOnc’s regional clinical programs and help deliver groundbreaking neuro-oncology solutions to patients across the MENA region."

NeOnc Technologies' NEO™ drug development platform has produced a portfolio of novel drug candidates and delivery methods with patent protections extending to 2038. The company's NEO100™ and NEO212™ therapeutics are in Phase II human clinical trials, advancing under FDA Fast-Track and Investigational New Drug (IND) status. The company has exclusively licensed an extensive worldwide patent portfolio from the University of Southern California for various uses, including oncological and neurological conditions.

The partnership marks a significant milestone for NeOnc Technologies, positioning it to expand its global therapeutic footprint and deliver long-term value to patients and shareholders. The closing of the transaction remains subject to the satisfaction of remaining conditions within 120 days and the successful completion of the capital formation process.

References:
[1] https://finance.yahoo.com/news/neonc-technologies-signs-definitive-agreement-130000945.html
[2] https://www.morningstar.com/news/globe-newswire/9502179/neonc-technologies-signs-definitive-agreement-for-50-million-strategic-partnership-with-quazar-investment