Oncotelic Therapeutics, Inc. (OTCQB: OTLC) announced the completion of a strategic asset transfer agreement with Lunai Bioworks, Inc., granting worldwide rights to its nose-to-brain (N2B) delivery system intellectual property within the fields of biodefense and Alzheimer's disease. In exchange, Oncotelic received $12.5 million in Series B convertible preferred stock, according to a press release.
The N2B platform enables intranasal delivery directly to the central nervous system, bypassing the blood-brain barrier to support rapid therapeutic action. This technology has applications in biodefense medical countermeasures and neurodegenerative conditions, offering a novel approach to delivering drugs to the brain.
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. The company plans to leverage its internal expertise in CNS therapeutics and biodefense to advance these areas.
This transaction supports Oncotelic's strategy to monetize its portfolio while retaining control of core assets. The company is a clinical-stage biopharmaceutical firm focused on oncology and immunotherapy products, addressing high-unmet-need cancers and rare pediatric indications with late-stage therapeutic candidates.
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. The company leverages its proprietary AI-enabled PDAOAI platform to support research, biomarker discovery, and regulatory processes.
Beyond its internal programs, Oncotelic licenses and co-develops select drug candidates through strategic partnerships and joint ventures. The company currently owns a 45% interest in GMP Bio, a joint venture advancing a complementary pipeline of therapeutic candidates that strengthens Oncotelic's position in oncology and rare disease therapeutics.
The latest news and updates relating to OTLC are available in the company's newsroom at https://ibn.fm/OTLC. For more information about Oncotelic Therapeutics, visit their website.
