XTL Biopharmaceuticals Ltd. (XTLB), a biopharmaceutical company, Tuesday announced that it has agreed to acquire 85 percent of NeuroNOS Ltd., a subsidiary of Beyond Air, Inc. (XAIR), a biotechnology company.
The company is expecting this acquisition to position XTL as a major player in the rapidly expanding autism therapeutics market.
According to XTL, Autism Spectrum Disorder now affects approximately 1 in 31 children in the United States and the U.S. Department of Health and Human Services have allocated $50 million in new NIH funding for autism research initiatives.
The transaction involves consideration of 19.9 percent of XTL's issued share capital, $1 million in cash, and milestone-based contingent payments totaling up to $32.5 million.
The milestone structure includes clinical development payments of up to $5.5 million to Beyond Air, commencing from the Phase 1 clinical trial through NDA submission to the FDA. In addition, commercial milestone payments of up to $26 million are payable upon achieving product sales targets, the company said in a statement.
In pre-market activity, XTL shares were trading at $0.71, up 4.83% on the Nasdaq.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.