Calabasas, CA – July 9, 2025 – (GLOBE NEWSWIRE) – NeOnc Technologies Holdings, Inc. (NASDAQ: NTHI), a clinical-stage biotechnology company advancing transformative treatments for brain and central nervous system cancers, today announced it has achieved a key milestone toward closing its previously announced strategic transaction with Quazar Investment: formal approval from NeOnc’s Board of Directors.
On June 30, 2025, NeOnc’s Board unanimously approved the company’s participation in the contemplated $50 million equity investment and MENA region expansion under a non-binding term sheet with Quazar. This Board approval marks the first of five required milestones in the transaction closing process.
“We are excited to report tangible progress in advancing our strategic partnership with Quazar Investment,” said Amir Heshmatpour, Executive Chairman & President of NeOnc Technologies Holdings, Inc. “The Board’s full support validates our shared vision for establishing a strong operational presence in the MENA region and accelerating clinical development of our core assets.”
Under the non-binding term sheet, Quazar intends to lead a capital formation round of up to $50 million, priced at $25 per share. The proposed structure allocates 70% of proceeds to the acquisition of NeOnc common stock, with 30% earmarked for launching clinical trials and building infrastructure across the UAE and broader MENA region.
To complete the transaction, NeOnc must satisfy the remaining conditions within 120 days, including:
- Legal formation of NuroMENA and NuroCure in Abu Dhabi.
- Execution and transfer of a Sub-License Agreement from NeOnc to NuroCure, covering NEO100 and NEO212, pursuant to NeOnc’s license from USC Stevens Center for Innovation.
- Finalization of offering documents, including subscription agreements and a shareholder agreement.
- Approval of a comprehensive two-year business plan and budget, outlining operational and clinical milestones.
The closing remains subject to these conditions and the successful completion of the capital formation process.
ABOUT NEONC TECHNOLOGIES HOLDINGS, INC.
NeOnc Technologies Holdings, Inc. is a clinical-stage life sciences company focused on the development and commercialization of central nervous system therapeutics that are designed to address the persistent challenges in overcoming the blood-brain barrier. The company’s NEO™ drug development platform has produced a portfolio of novel drug candidates and delivery methods with patent protections extending to 2038. These proprietary chemotherapy agents have demonstrated positive effects in laboratory tests on various types of cancers and in clinical trials treating malignant gliomas. NeOnc’s NEO100™ and NEO212™ therapeutics are in Phase II human clinical trials and are 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 consisting of issued patents and pending applications related to NEO100, NEO212, and other products from the NeOnc patent family for multiple uses, including oncological and neurological conditions.
For more about NeOnc and its pioneering technology, visit neonc.com.
Important Cautions Regarding Forward Looking Statements
All statements other than statements of historical facts included in this press release are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). Generally, such forward-looking statements include statements regarding expectations, possible or assumed future actions, business strategies, events or results of operations, including statements regarding expectations or predictions or future financial or business performance or conditions and those statements that use forward-looking words such as “projected,” “expect,” “possibility” and “anticipate,” or similar expressions. The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties, and assumptions. Actual results could differ materially from current projections or implied results. The Company cautions that statements and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statements following the date of this news release, whether because of new information, future events or otherwise, except as required by law.
“NEO100” and NEO “212” are registered trademarks of NeOnc Technologies Holdings, Inc.
Company Contact:
info@neonc.com
Investor Contact:
James Carbonara
Hayden IR
(646)-755-7412
James@haydenir.com
