Bullish indicating open at $55-$60, IPO prices at $37
ABU DHABI - NeOnc Technologies Holdings, Inc. (NASDAQ:NTHI), currently valued at $91.14 million and trading at $4.79, announced Monday that its subsidiary NuroMENA Holdings Ltd. has been officially incorporated by the Abu Dhabi Global Market (ADGM), fulfilling all contingencies for a $50 million investment led by Quazar Investment. InvestingPro data shows the stock has declined over 60% in the past six months, trading well below its 52-week high of $25.
The incorporation, which was completed on August 6, 2025, marks the final step in establishing the partnership that will support NeOnc’s central nervous system (CNS) cancer treatment platform across the Middle East and North Africa region.
Under the terms of the agreement, NuroMENA will become majority-controlled by Quazar Investment following the closing of the investment and execution of change of control, with joint governance oversight between the two companies.
"With the finalization of NuroMENA’s incorporation and the support of Quazar Investment, we are now fully equipped to continue our goals toward delivering life-saving therapies to a region in urgent need of innovation," said Amir Heshmatpour, Executive Chairman and President of NeOnc Technologies, in a press release statement. The company’s next earnings report is scheduled for September 26, 2025, with analysts expecting a decline in sales for the current year, according to InvestingPro forecasts.
Waleed K. Al Ali, Chairman and CEO of Quazar Investment, said the partnership positions them to assist NeOnc with efforts to transform brain cancer and CNS treatment across the region.
NeOnc Technologies is a clinical-stage biotechnology company currently conducting Phase 2 trials for its NEO212 and NEO100 programs, which focus on therapies for brain cancer and other CNS disorders.
Quazar Investment, headquartered in Abu Dhabi, manages over $3.3 billion in assets and focuses on investments in biotechnology, healthcare, and infrastructure across the MENA region.
In other recent news, NeOnc Technologies Holdings, Inc. announced significant developments in its operations. The company secured two National Institutes of Health (NIH) Small Business Technology Transfer grants totaling $2.5 million. These funds will aid in the development of NEO212, a cancer therapeutic compound, with $400,000 allocated for preclinical studies in acute myelogenous leukemia and $2.1 million for clinical development in newly diagnosed gliomas. Additionally, NeOnc Technologies entered a $50 million strategic partnership with Quazar Investment. This deal involves Quazar acquiring 1.4 million shares at $25 each, totaling $35 million, with the remaining $15 million funding Phase 2B clinical trials and infrastructure development in the UAE and MENA region. Furthermore, the company announced a $3.5 million acquisition of intellectual property assets focused on 3D bioprinting, artificial intelligence, and quantum modeling technologies. This acquisition includes U.S. Patent No. 11,788,057 B2, aimed at accelerating preclinical drug discovery for brain-targeted therapies. These developments mark a period of strategic growth and investment for NeOnc Technologies.
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