Klotho Neurosciences signs LOI to acquire Turn Bio assets

NEW YORK/PALO ALTO - Klotho Neurosciences, Inc. (NASDAQ:KLTO), a $31 million market cap biotech company, announced Tuesday it has signed a Letter of Intent to acquire select assets from Turn Biotechnologies, a company specializing in induced pluripotent stem cells and cellular reprogramming. The stock has shown significant volatility, with a 122% surge over the past six months despite recent pullbacks, according to InvestingPro data.

The proposed cash and stock transaction would give Klotho ownership of Turn’s ERA (Epigenetic Reprogramming of Age) platform and eTurna RNA delivery system, technologies designed to rejuvenate cells and restore tissue function.

As part of the acquisition, Klotho would obtain an existing out-licensing and co-development partnership with a South Korean pharmaceutical company valued at up to $300 million, according to the company’s statement.

"This LOI marks a transformative step for Klotho," said Dr. Joseph Sinkule, CEO of Klotho Neurosciences, in the press release.

If completed, the transaction would expand Klotho’s technological capabilities beyond its focus on the Klotho gene, often referred to as the "anti-aging gene," to include Turn’s cellular rejuvenation platform that utilizes RNA molecules including Yamanaka transcription factors.

The acquisition remains subject to due diligence, execution of a definitive agreement, and customary closing conditions. Klotho plans to rebrand following the transaction’s completion and intends to bring over key members of Turn’s management and R&D teams.

Turn Biotechnologies has raised over $30 million from investors including Khosla Ventures and Astellas Ventures. Its ERA platform was developed at Stanford University.

The transaction comes as the longevity medicine market continues to grow, driven by an aging global population expected to reach 2.1 billion by 2050. While Klotho currently operates at a loss with negative earnings per share of -$0.42, InvestingPro subscribers can access additional insights, including 8 more exclusive ProTips and detailed financial metrics to evaluate the company’s growth potential in this expanding market.

In other recent news, Klotho Neurosciences, Inc. has taken significant steps in advancing its KLTO-202 candidate for Amyotrophic Lateral Sclerosis (ALS) by receiving Orphan Drug Designation from the FDA. The company has also entered into a binding agreement with AAVnerGene, Inc. to manufacture and develop this gene therapy candidate, with manufacturing already in progress. Additionally, Klotho Neurosciences has amended its subscription agreement with several Meteora funds, capping the shares at 6.76 million and extending the agreement until September 19, 2025. The company has also received a Nasdaq notice for failing to maintain a minimum bid price of $1 per share, with a deadline of March 18, 2026, to regain compliance. Furthermore, Klotho Neurosciences is exploring the acquisition of technologies that support healthy brain function and longevity, aiming to expand beyond its current focus on neurological treatments. These developments highlight Klotho Neurosciences’ ongoing efforts to innovate and adapt in the biotechnology sector.

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