Oncotelic Therapeutics Completes $12.5M Asset Transfer to Lunai Bioworks, Focusing on Nose-to-Brain Delivery for Alzheimer's and Biodefense
Oncotelic Therapeutics has transferred worldwide rights to its nose-to-brain delivery system for Alzheimer's and biodefense to Lunai Bioworks in exchange for $12.5 million in preferred stock, enabling it to monetize assets while retaining control for other indications like Parkinson's disease.
Oncotelic Therapeutics, Inc. (OTCQB: OTLC) has announced the completion of a strategic asset transfer agreement with Lunai Bioworks, Inc., granting Lunai worldwide rights to its nose-to-brain (N2B) delivery system intellectual property within the fields of biodefense and Alzheimer's disease. In exchange, Oncotelic received $12.5 million in Series B convertible preferred stock, according to a press release.
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. This technology has 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 its internal expertise in CNS therapeutics and biodefense.
This transaction underscores Oncotelic's strategy to monetize its portfolio while retaining control of core assets. The company is a clinical-stage biopharmaceutical firm focused on oncology and immunotherapy, addressing high-unmet-need cancers and rare pediatric indications. Oncotelic benefits from a robust portfolio of inventions created by its CEO, Dr. Vuong Trieu, who has filed over 500 patent applications and holds 75 issued patents. The company also leverages its proprietary AI-enabled PDAOAI platform, which supports research, biomarker discovery, and regulatory processes.
Beyond its internal programs, Oncotelic licenses and co-develops select drug candidates through strategic partnerships and joint ventures. It currently owns a 45% interest in GMP Bio, a joint venture advancing a complementary pipeline of therapeutic candidates that further strengthens its position in oncology and rare disease therapeutics.
The agreement with Lunai Bioworks positions Oncotelic to capitalize on the growing demand for CNS-targeted therapeutics, particularly in Alzheimer's disease and biodefense, where the N2B delivery system could offer significant advantages. By retaining rights for other indications, the company maintains flexibility to pursue additional opportunities in neurodegenerative and other CNS conditions.
For more information, visit https://ibn.fm/IWUpe.