NeOnc Technologies Secures $50 Million Investment to Expand Brain Cancer Clinical Trials in MENA Region
Key Insights
NeOnc Technologies signed a non-binding term sheet with Quazar Investment (search) for a $50 million equity investment to establish a UAE-based clinical platform focused on the Middle East and North Africa region.
The partnership will create NuroCure (search), an Abu Dhabi operating subsidiary, to conduct clinical trials for NeOnc's brain cancer (search) therapies NEO100 and NEO212 targeting aggressive cancers like DIPG (search) and glioblastoma multiforme (search).
The investment will allocate 70% of funds to acquire NeOnc stock at $25 per share and 30% toward launching clinical trials and infrastructure development across the UAE and MENA region.
NeOnc Technologies Holdings (search), Inc. (NASDAQ: NTHI) announced it has signed a non-binding term sheet with Quazar Investment (search) for a $50 million equity investment to establish the company's first international clinical platform in the Middle East and North Africa (MENA) region. The clinical-stage biotechnology company, which focuses on brain and central nervous system cancer treatments, plans to leverage this partnership to expand trials for its late-stage drug candidates targeting some of the most aggressive brain cancers.
Strategic Partnership Structure
The non-binding term sheet outlines the formation of NuroMENA Holdings Ltd, a wholly owned holding company of NeOnc, which will oversee the incorporation of NuroCure (search), an Abu Dhabi onshore operating subsidiary. NuroCure will be responsible for initiating and managing clinical trials for NeOnc's late-stage drug candidates, including NEO100-01, NEO100-02, NEO100-03 pediatric drug, and NEO212, across the UAE and the wider GCC and MENA region.
The partnership leverages the UAE's clinical trial infrastructure through Cleveland Clinic Abu Dhabi, which conducts trials under US FDA protocols. NeOnc's Scientific Advisory Board includes Dr. David Peereboom, Head of Neuro-Oncology at Cleveland Clinic, positioning the company for seamless implementation of its UAE clinical programs.
Investment Terms and Fund Allocation
The $50 million equity investment, priced at $25 per share, is subject to execution of definitive documentation expected by July 10, 2025. Quazar will control and lead the capital formation round, with proceeds allocated strategically across two primary areas:
- 70% of the funds will be used to acquire NeOnc Technologies Holdings common stock at $25 per share directly from the company
- 30% will be allocated toward launching and scaling clinical trials, regulatory filings, and infrastructure development across the UAE and MENA region through NuroCure
Regulatory and Operational Milestones
The transaction closing is contingent upon NeOnc Technologies satisfying several conditions within 120 days of execution. The company has already completed formal approval by the NeOnc Technologies Board of Directors on June 30, 2025. Remaining deliverables include the legal formation of NuroMENA and NuroCure (search) in Abu Dhabi, execution of a Sub-License Agreement covering NEO100 and NEO212, finalization of offering documents, and approval of a comprehensive two-year business plan and budget.
Therapeutic Focus Areas
NuroCure (search) will initiate clinical trials in the UAE for NEO100, a promising candidate for Diffuse Intrinsic Pontine Glioma (search) (DIPG (search)), and NEO212, a therapy targeting glioblastoma multiforme (search) (GBM (search)). These represent some of the most aggressive and underserved brain cancers in both adult and pediatric populations.
NeOnc's NEO100 and NEO212 therapeutics are currently in Phase II human clinical trials and are advancing under FDA Fast-Track and Investigational New Drug (IND) status. The company's NEO drug development platform has produced a portfolio of novel drug candidates and delivery methods with patent protections extending to 2038.
Strategic Partnership Significance
Amir Heshmatpour, Executive Chairman & President of NeOnc Technologies Holdings (search), Inc., stated: "We believe this partnership should allow us to bring our lifesaving work into the heart of the MENA region. With Quazar's strategic support and our shared commitment to transformative brain cancer (search) therapies, we are building a model that combines global innovation with regional precision."
Quazar Investment (search), a $3.3 billion USD family office and holdings platform, is described as one of the most respected institutional partners in the UAE, with 99% of its partnerships and business conducted in collaboration with UAE Government entities.
Intellectual Property Portfolio
The partnership will involve sub-licensing NeOnc's robust therapeutic platform and intellectual property, which includes over 177 patents worldwide, to NuroCure (search). This sub-license will be made pursuant to NeOnc's existing exclusive license from USC Stevens Center for Innovation (search), covering the UAE and the wider GCC and MENA region for NEO100 and NEO212.
NeOnc Technologies has exclusively licensed an extensive worldwide patent portfolio from the University of Southern California consisting of issued patents and pending applications related to NEO100, NEO212, and other products from the NeOnc patent family for multiple uses, including oncological and neurological conditions.