MergerMay 5, 2026, 04:28 PM
Oncotelic Subsidiary Merges, Gets $12.5M in Lunai Preferred Stock
AI Summary
Oncotelic Therapeutics' wholly owned subsidiary, Oncotelic Inc., completed a triangular merger on May 1, 2026, involving Neurobridge IP Holdings Incorporated and Lunai Bioworks, Inc. As part of the transaction, Oncotelic Inc. contributed its intellectual property assets to Neurobridge IP Holdings. In consideration for the merger, Lunai Bioworks issued 8 shares of Series B Convertible Preferred Stock with an aggregate stated value of $20,000,000, of which Oncotelic received 5 shares valued at $12,500,000. Oncotelic also secured a perpetual, royalty-free, exclusive license to use the assigned IP in all fields except Biodefense and Alzheimer's Disease.
Key Highlights
- Oncotelic Inc. (subsidiary) merged Neurobridge IP Holdings into Lunai Bioworks' subsidiary on May 1, 2026.
- Oncotelic owned 62.5% of Neurobridge IP Holdings prior to the merger.
- Lunai Bioworks issued 8 shares of Series B Preferred Stock with an aggregate stated value of $20,000,000.
- Oncotelic received 5 shares of Series B Preferred Stock, valued at $12,500,000.
- Oncotelic assigned its Intellectual Property Assets to Neurobridge IP Holdings.
- Oncotelic received a perpetual, royalty-free, exclusive license back for all fields except Biodefense and Alzheimer's Disease.