XLT Biopharmaceuticals Ltd. (XTLB) has entered into a binding agreement to acquire 85% of NeuroNOS Ltd., a subsidiary of Beyond Air Inc. (XAIR), in deal that positions XTL as a new contender in the rapidly expanding autism therapeutics market.
The transaction brings together a scientific team that includes two Nobel Laureates and leading autism researcher Prof. Haitham Amal, marking one of the most high-profile scientific collaborations in the field to date.
NeuroNOS, founded by Prof. Amal of Hebrew University and Harvard University, is developing small-molecule therapies designed to cross the blood-brain barrier and modulate nitric oxide dysregulation- an emerging disease-modifying target in autism and certain brain cancers.
The company has already secured FDA Orphan Drug Designations for Phelan-McDermid Syndrome and glioblastoma, providing regulatory incentives such as market exclusivity and expedited review.
The acquisition comes amid rising urgency around autism care. Autism now affects 1 in 31 U.S. children, yet no FDA-approved disease-modifying therapies exist, leaving families reliant on symptomatic treatments that do not address underlying neurobiology.
Federal leadership has recently highlighted autism as a national priority, with new NIH funding directed toward therapeutic innovation.
Under the terms of the deal, XTL will acquire its 85% stake through a combination of 19.9% of its issued share capital, $1 million in cash, and up to $32.5 million in development and commercial milestone payments to Beyond Air.
The milestone payments include up to $5.5 million tied to clinical progress through NDA submission, and up to $26 million linked to commercial sales thresholds.
Beyond Air, which will retain a 19.99% post-transaction stake in XTL, described the agreement as a pivotal moment for NeuroNOS, enabling the program to advance with dedicated funding and strategic focus. XTL said the acquisition transforms NeuroNOS into its flagship platform for autism and neuro-oncology, expanding its therapeutic footprint beyond its existing immunology-focused IP portfolio.
XAIR has traded between $1.37 and $2.43 over the past year. The stock is currently trading at $2.28, up 160%.
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