Beyond Air announces termination of NeuroNOS agreement with XTL

Beyond Air (XAIR) announced that the previously disclosed proposed transaction with XTL Biopharmaceuticals (XTLB) relating to Beyond Air’s NeuroNOS subsidiary has been terminated. The companies entered into a letter of intent in January 2026 regarding a potential transaction in which XTL would acquire Beyond Air’s majority ownership interest in NeuroNOS Ltd. The letter of intent expired on March 9, 2026, in accordance with its terms, and the parties did not enter into a definitive agreement. “While the proposed transaction will not proceed, Beyond Air remains committed to maximizing the value of the NeuroNOS platform,” said Steve Lisi, CEO. “We continue to believe NeuroNOS represents a compelling opportunity based on its proprietary small-molecule platform and development programs targeting neurological disorders and oncology.” Beyond Air will continue to evaluate strategic alternatives for NeuroNOS and remains focused on advancing its core nitric oxide platform and LungFit programs