LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced the completion of its merger with NOMAD Transportable Power Systems Inc., making NOMAD a wholly owned subsidiary and rebranding the combined entity as NOMAD Power Solutions Inc. The company will begin trading under the ticker symbol “NMAD” on July 6, 2026.
In connection with the transaction, the company issued 2,992,041 shares of common stock and 50,366.07 shares of newly authorized Series D preferred stock to NOMAD’s accredited stockholders. The name change to NOMAD Power Solutions Inc. became effective July 3, 2026.
The merger marks a strategic pivot for LIXTE, which was previously a clinical-stage pharmaceutical and med-tech company focused on cancer drug development. NOMAD Power Solutions will now focus on deployable utility-grade battery energy storage systems, positioning the company to capitalize on growing demand driven by artificial intelligence, electrification, grid modernization, and industrial expansion.
CEO John Travaglini will continue to lead the company. According to the press release, NOMAD is engaged in more than 30 active utility, infrastructure, and strategic customer projects across North America. Travaglini expressed confidence that public market access will support continued manufacturing expansion and growth.
The original LIXTE Biotechnology operations, including its lead compound LB-100, a first-in-class PP2A inhibitor, and its subsidiary Liora Technologies Europe Ltd., which develops proton therapy systems, remain part of the company. However, the new focus is squarely on energy storage solutions.
This move highlights the increasing convergence of technology and energy sectors, as companies pivot to address infrastructure needs for power-hungry applications like AI data centers and electric vehicle charging networks. The battery energy storage market is expected to grow substantially as utilities and industries seek reliable, scalable solutions to manage intermittent renewable energy sources and grid stability.
For investors, the transition from a biotech to an energy storage company represents a significant shift in risk profile and market opportunity. The company’s ability to execute on its pipeline of customer projects will be critical to its success in the competitive energy storage landscape.
For more information, visit the company’s newsroom at https://nnw.fm/LIXT.
