NeOnc Technologies Secures Board Approval for $50 Million Strategic Partnership with Quazar Investment

NeOnc Technologies Secures Board Approval for $50 Million Strategic Partnership with Quazar Investment

Benzinga
July 10, 2025

CALABASAS, Calif., July 10, 2025 (GLOBE NEWSWIRE) -- NeOnc Technologies Holdings, Inc. (NASDAQ:NTHI), a clinical-stage biotechnology company advancing transformative treatments for brain and central nervous system cancers, today announced it has achieved a key milestone toward closing its previously announced strategic transaction with Quazar Investment: formal approval from NeOnc's Board of Directors.

On June 30, 2025, NeOnc's Board unanimously approved the company's participation in the contemplated $50 million equity investment and MENA region expansion under a non-binding term sheet with Quazar. This Board approval marks the first of five required milestones in the transaction closing process.

"We are excited to report tangible progress in advancing our strategic partnership with Quazar Investment," said Amir Heshmatpour, Executive Chairman & President of NeOnc Technologies Holdings, Inc. "The Board's full support validates our shared vision for establishing a strong operational presence in the MENA region and accelerating clinical development of our core assets."

Under the non-binding term sheet, Quazar intends to lead a capital formation round of up to $50 million, priced at $25 per share. The proposed structure allocates 70% of proceeds to the acquisition of NeOnc common stock, with 30% earmarked for launching clinical trials and building infrastructure across the UAE and broader MENA region.

To complete the transaction, NeOnc must satisfy the remaining conditions within 120 days, including:

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