TrivarX (ASX:TRI) entered into a binding intellectual property option agreement to acquire all intellectual property associated with the Stabl-Im metastatic brain imaging technology from Nucleics, according to a Thursday Australian bourse filing.

It will pay a AU$250,000 fee, and it will be granted a 90-day exclusive option to acquire the intellectual property. If it exercises the option, it will agree to issue 250 million of class A performance shares and 500 million of class B performance shares as deferred consideration.

The firm plans to finalize the acquisition of all intellectual property, associated expertise, and supporting data from Nucleics in the coming weeks, before initiating the first clinical trial phase. It will conduct regulatory pre-submission activities in key markets, including the US and the EU.

A first-in-human phase one clinical trial is planned to begin in 2026 to study the safety, imaging precision, and reproducibility of the Stabl-Im platform in patients with confirmed brain tumors.

TrivarX secured firm commitments from new and existing professional, sophisticated, and institutional investors to raise AU$4.2 million via the issue of 525 million new fully-paid ordinary shares at an issue price of AU$0.008 per share.

The placement includes a cornerstone commitment of AU$500,000 from Nucleics Chief Executive Officer and founder, Daniel Tillett.

Its shares rose 182% in recent trading on Thursday, reaching the highest point in 52 weeks.