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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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.