Lixte Biotechnology Raises $6.5M, Appoints New Management and Validates LB-100 Compound

Lixte Biotechnology Holdings has raised $6.5 million through two financings and regained Nasdaq compliance. The company has also appointed new management and board members, validated its LB-100 compound in a Nature study, and initiated a new pre-clinical study with the Netherlands Cancer Institute. Lixte is a clinical-stage pharmaceutical company focused on developing new cancer therapies through its activation lethality approach.

Lixte Biotechnology Holdings, Inc. (Nasdaq: LIXT and LIXTW) has made significant strides in its financial and scientific endeavors, raising $6.5 million through two financings and regaining compliance for continued listing on the Nasdaq Capital Market. The company also appointed new management and board members, validated its proprietary compound LB-100 in a study published in the Nature journal, and initiated a new pre-clinical study with the Netherlands Cancer Institute.

The company completed two financings: a private placement with accredited investors raising $5 million and a registered direct offering with accredited investors raising $1.5 million. These funds will be used for general corporate purposes and working capital, addressing immediate capital needs and resolving Nasdaq listing compliance issues [1].

Geordan Pursglove was appointed Chairman and Chief Executive Officer (CEO) in June 2025, succeeding Bas van der Baan, who transitioned to President and Chief Scientific Officer (CSO). Additionally, Jason Sawyer and Michael Holloway, MD, joined LIXTE’s Board as independent directors, while Bas van der Baan and René Bernards, PhD, were appointed to the newly established Scientific Advisory Committee [1].

A study published in Nature validated LIXTE’s ongoing clinical trials with LB-100. The study showed that patients with tumors carrying inactivating mutations in PPP2R1A had significantly better overall survival compared to those without such mutations [1]. This validation strengthens the scientific rationale behind LIXTE's clinical trials.

LIXTE's clinical trials for ovarian and colorectal cancer are ongoing at prestigious institutions such as the M.D. Anderson Cancer Center and Northwestern University, supported by GSK and Roche, respectively. The company has also initiated a new pre-clinical study in collaboration with the Netherlands Cancer Institute to explore cancer prevention possibilities [1].

The appointment of new management and the formation of the Scientific Advisory Committee signal a strategic shift towards both clinical development and commercialization pathways. The new pre-clinical study represents an expansion of LIXTE's potential therapeutic applications, potentially broadening the market opportunity for LB-100 beyond its current focus on treatment.

Lixte Biotechnology Holdings is a clinical-stage pharmaceutical company focused on developing new cancer therapies through its activation lethality approach. The company's lead compound, LB-100, is part of a pioneering effort in cancer biology, advancing a new treatment paradigm. The company's extensive published preclinical data and ongoing clinical trials demonstrate the potential of LB-100 to enhance chemotherapies and immunotherapies [1].

References:
[1] https://www.biospace.com/press-releases/lixte-biotechnology-holdings-provides-corporate-update
[2] https://www.stocktitan.net/news/LIXT/lixte-biotechnology-holdings-provides-corporate-6ubp5zf2l60k.html