NeOnc Technologies Enters Strategic $50 Million Partnership with Quazar Investment for MENA Region Expansion
NeOnc Technologies Holdings Inc., a clinical-stage biotechnology company focused on brain and central nervous system cancers, has reached a pivotal milestone in its strategic partnership with Quazar Investment. This collaboration involves a $50 million investment with NeOnc's stock priced at $25 per share. A key component of this agreement is the execution of a Sub-License Agreement, transferring rights to NuroCure, NeOnc's subsidiary in Abu Dhabi. This license covers the UAE and the wider GCC and MENA regions for the use of NEO100 and NEO212, essential treatments developed under NeOnc's license from USC Stevens Center for Innovation. To finalize this transaction, NeOnc must complete several conditions within 120 days, including the legal formation of NuroMENA and NuroCure in Abu Dhabi, finalizing offering documents, and approving a comprehensive business plan. This partnership aims to advance clinical trials and infrastructure development across the MENA region, marking a significant step in NeOnc's transformation into a global brain cancer platform.
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