NeOnc Technologies approves $50M strategic partnership with Quazar Investment

NeOnc Technologies (NTHI) has achieved a key milestone toward closing its previously announced strategic transaction with Quazar Investment: formal approval from NeOnc’s Board of Directors. On June 30, NeOnc’s Board unanimously approved the company’s participation in the contemplated $50M equity investment and MENA region expansion under a non-binding term sheet with Quazar. This Board approval marks the first of five required milestones in the transaction closing process. Quazar intends to lead a capital formation round of up to $50M, priced at $25 per share. The proposed structure allocates 70% of proceeds to the acquisition of NeOnc common stock, with 30% earmarked for launching clinical trials and building infrastructure across the UAE and broader MENA region. To complete the transaction, NeOnc must satisfy the remaining conditions within 120 days, including: legal formation of NuroMENA and NuroCure in Abu Dhabi; execution and transfer of a Sub-License Agreement from NeOnc to NuroCure; finalization of offering documents; approval of a comprehensive two-year business plan and budget, outlining operational and clinical milestones. The closing remains subject to these conditions and the successful completion of the capital formation process.