LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced that its previously disclosed acquisition of NOMAD Transportable Power Systems is expected to close on or about July 1, 2026, subject to customary conditions and approvals. Ahead of closing, LIXTE will provide a $6.5 million loan to NOMAD to support procurement of long-lead components, fund working capital and help the company scale manufacturing against its growing order pipeline for deployable utility-grade battery energy storage systems.
Upon completion of the transaction, the company expects to rename itself NOMAD Power Solutions, Inc. and adopt a new Nasdaq ticker symbol. NOMAD’s mobile, utility-grade battery energy storage platform is designed to provide rapid deployment and reliable power for utilities, industrial users and data centers, positioning the company to benefit from rising electricity demand driven by artificial intelligence infrastructure and high-density computing applications.
The acquisition marks a strategic pivot for LIXTE, which has historically focused on cancer drug development. Through its wholly owned subsidiary Liora Technologies Europe Ltd., the company also is pioneering electronically controlled proton therapy systems for treating tumors. However, the move into energy storage reflects growing investor interest in power solutions for AI data centers, which require massive and reliable electricity supplies.
The $6.5 million pre-closing loan will allow NOMAD to accelerate procurement of long-lead components and expand manufacturing capacity to meet its order pipeline. This infusion is critical as utilities and industrial users increasingly seek mobile battery storage to address grid reliability and peak demand challenges. For investors, the transaction underscores the potential for crossover opportunities between biotech and energy sectors, though LIXTE’s core pharmaceutical pipeline remains active with clinical trials for LB-100 in multiple cancers.
More details are available in the full press release at https://ibn.fm/s0uCh. For ongoing updates, visit LIXTE’s newsroom at https://ibn.fm/LIXT.
