Oncotelic Therapeutics Completes $12.5M N2B Asset Transfer to Lunai Bioworks

Oncotelic Therapeutics, Inc. (OTCQB: OTLC) announced the consummation of a strategic asset transfer agreement with Lunai Bioworks, Inc., granting worldwide rights to its nose-to-brain (N2B) delivery system IP within biodefense and Alzheimer’s disease fields in exchange for $12.5 million in Series B convertible preferred stock. The agreement establishes an initiative focused on CNS-targeted therapeutics while supporting the company’s strategy to monetize its portfolio and retain control of core assets.

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, with 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 internal expertise in CNS therapeutics and biodefense.

This transaction is significant as it allows Oncotelic to monetize its innovative delivery platform while focusing resources on its core oncology and immunotherapy pipeline. The company continues to advance its drug development programs, including those for high-unmet-need cancers and rare pediatric indications. Oncotelic also 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. Additionally, the company leverages its proprietary AI-enabled PDAOAI platform to support research, biomarker discovery, and regulatory processes.

The asset transfer underscores the growing interest in nose-to-brain delivery for neurological conditions and biodefense. For more details, the full press release is available at https://ibn.fm/IWUpe.