NeOnc Technologies Teams Up for MENA Expansion and Trials

NeOnc Technologies and Quazar Investment Partnership

NeOnc Technologies Holdings, Inc. (NASDAQ: NTHI), known for its innovative approaches in biotechnology, has made significant strides in the fight against brain and central nervous system cancers. Recently, the company signed a term sheet with Quazar Investment to create an investment and clinical trials platform based in the Middle East and North Africa (MENA) region.

Formation of NuroMENA Holdings Ltd

This collaboration will give rise to NuroMENA Holdings Ltd, a wholly-owned subsidiary of NeOnc. This entity is set to oversee NuroCure, which will operate in Abu Dhabi and manage the clinical trials of NeOnc’s promising cancer drug candidates, including NEO100-01, NEO100-02, NEO100-03 pediatric drug, and NEO212. These trials aim to address some of the most challenging brain cancers affecting patients in the UAE and the wider GCC and MENA regions.

Leveraging UAE's Clinical Infrastructure

The partnership aims to utilize the robust clinical trial infrastructure present in the UAE, specifically through Cleveland Clinic Abu Dhabi, which adheres to strict US FDA protocols. The support of expert advisory boards will significantly enhance the execution of clinical programs in this thriving medical landscape.

Investment Details

The investment outlined in the term sheet includes a substantial equity investment of $50 million, contingent upon the successful completion of various requirements within 120 days. Quazar Investment will spearhead this capital formation round, set at $25 per share.

Strategic Allocation of Funds

The funds raised through this initiative will be strategically allocated where:

• 70% will be directed towards acquiring NeOnc Technologies Holdings (NASDAQ: NTHI) common stock directly from the company.
• 30% will support the launch and scaling of clinical trials, regulatory filings, and the establishment of operational infrastructure via the NuroCure initiative.

Key Conditions for Finalization

Finalizing this agreement involves several conditions, including:

1. Approval from the Board of Directors, which has been achieved.
2. The legal formation of NuroMENA and NuroCure.
3. Execution of the sub-license agreement regarding NeOnc’s leading drug candidates.
4. Development of comprehensive offering documents and agreements.
5. Development and approval of a detailed business and operational plan.

First International Expansion of Clinical Programs

This arrangement is a landmark moment for NeOnc as it represents its first international expansion of clinical initiatives. NuroCure will commence trials targeting NEO100, which is aimed at treating Diffuse Intrinsic Pontine Glioma (DIPG), and NEO212, focusing on glioblastoma multiforme (GBM) — both are aggressive cancers with significant unmet medical needs.

Leadership's Vision

Amir Heshmatpour, the Executive Chairman & President of NeOnc Technologies, expressed optimism about this partnership, stating that it will accelerate bringing their lifesaving efforts to the MENA region. He emphasized that with Quazar’s backing, they aim to integrate global innovation tailored to suit local needs.

The Role of Quazar Investment

Quazar Investment is well-regarded in the UAE's investment landscape, with strong ties to government entities. Their partnership endorses the confidence in NeOnc’s mission and goals. This collaboration is expected to go beyond mere investment, fostering a shared commitment to transformative therapies for brain cancers.

Next Steps for NeOnc

Moving forward, NeOnc Technologies is focused on finalizing negotiations with the USC Stevens Center for Innovation regarding the sub-license for its extensive therapeutic platform. This license spans over 177 patents globally, aiming to enhance the potential of NuroCure in treating various cancers.

About NeOnc Technologies Holdings, Inc.

NeOnc is a clinical-stage biotechnology firm dedicated to developing innovative therapies for challenging central nervous system tumors, leveraging its robust NEO™ drug development platform. With advancements in patient care for malignant gliomas, NeOnc's therapeutics, NEO100™ and NEO212™, are making headway in Phase II human clinical trials, backed by FDA Fast-Track and IND status.

Frequently Asked Questions

What is the purpose of the partnership between NeOnc and Quazar?

The partnership aims to create a clinical trials platform in the MENA region to facilitate the testing of NeOnc's cancer therapies.

What are the key drugs involved in this partnership?

The key drugs include NEO100, aimed at treating Diffuse Intrinsic Pontine Glioma (DIPG), and NEO212, which targets glioblastoma multiforme (GBM).

How much funding is being raised through this term sheet?

A total of $50 million is targeted as part of the equity investment strategy outlined in the term sheet.

What are the main conditions for the investment to proceed?

Key conditions include board approvals, legal formations of companies, and the execution of essential agreements within a specified timeframe.

What is the significance of the UAE in this clinical expansion?

The UAE serves as a pioneering clinical environment with established infrastructures like Cleveland Clinic Abu Dhabi, which helps streamline clinical trials under stringent protocols.

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