XTL Biopharmaceuticals Ltd. (NASDAQ: XTLB) announced a binding agreement to acquire 85 % of NeuroNOS Ltd., a subsidiary of Beyond Air, Inc. The deal will give XTL a majority stake in a company focused on disease‑modifying therapeutics for autism spectrum disorder (ASD) and neuro‑oncology.
Under the terms, XTL will pay $1 million in cash and issue 19.9 % of its post‑transaction share capital to Beyond Air. In addition, XTL has agreed to milestone‑based payments totaling up to $32.5 million, including up to $5.5 million for clinical development milestones and up to $26 million for commercial sales targets. The transaction is subject to customary closing conditions, including shareholder approval of XTL.
NeuroNOS’s platform targets nitric‑oxide dysregulation, a mechanism linked to ASD pathophysiology. The company has secured FDA orphan drug designations for Phelan‑McDermid syndrome and glioblastoma, providing market exclusivity and accelerated review pathways. The platform is led by Nobel laureates Professor Dan Shechtman and Professor Roger Kornberg, along with Professor Haitham Amal, whose research has identified elevated nitric‑oxide levels in children with autism and demonstrated therapeutic potential in preclinical models.
XTL’s existing pipeline focuses on lupus and Sjögren’s syndrome. The acquisition diversifies the company’s therapeutic portfolio into a high‑unmet‑need market, potentially creating new revenue streams as XTL continues to raise capital for its autoimmune programs. CEO Noam Band said the deal “expands XTL’s reach into a critical therapeutic area and brings together world‑class science with a strong commercial platform.”
Beyond Air will retain a 19.99 % stake in XTL post‑transaction, allowing it to benefit from the potential success of NeuroNOS’s pipeline while providing XTL with additional capital and strategic focus on its core autoimmune assets. The deal positions XTL to capitalize on the growing demand for disease‑modifying treatments in autism, a condition affecting approximately 1 in 31 children in the United States.
The acquisition is a material event that could reshape XTL’s growth trajectory, offering a new pathway to address a large, underserved patient population and leveraging the scientific credibility of Nobel laureates and leading researchers. The milestone structure aligns XTL’s financial commitments with NeuroNOS’s development progress, mitigating risk while preserving upside potential.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.