Oncotelic Therapeutics (OTCQB: OTLC) announced the consummation of a strategic asset transfer agreement with Lunai Bioworks, Inc., granting worldwide rights to its nose-to-brain (N2B) delivery system IP within biodefense and Alzheimer’s disease fields in exchange for $12.5 million in Series B convertible preferred stock. The agreement establishes an initiative focused on CNS-targeted therapeutics while supporting the company’s strategy to monetize its portfolio and retain control of core assets.
The N2B platform enables intranasal delivery directly to the central nervous system, bypassing the blood-brain barrier to support rapid therapeutic action and targeted neurological engagement, with applications in biodefense medical countermeasures and neurodegenerative conditions. Under the agreement, Lunai Bioworks will develop the platform within the specified fields, while Oncotelic retains rights for other indications, including Parkinson’s disease and sexual dysfunction, leveraging internal expertise in CNS therapeutics and biodefense.
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