On August 25, 2026 Beyond Air, Inc. (NASDAQ: XAIR) reported that they have entered into a definitive agreement under which UNIVO Pharmaceutical Industries Ltd ("UNIVO") Univo Pharmaceutical Industries Ltd. ("UNIVO"), a public company whose shares are listed for trading on the Tel Aviv Stock Exchange (TASE:UNVO), will acquire control over the outstanding shares of NeuroNOS Israel Ltd. ("NeuroNOS"), a biopharmaceutical company focused on developing treatments for neurological disorders and neuro-oncology. The transaction is intended to provide NeuroNOS with dedicated resources, funding and strategic focus to advance its pipeline candidates targeting complex neurological disorders, including Autism Spectrum Disorder (ASD), brain cancers including Glioblastoma (GBM), and Alzheimer’s disease.
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Currently, Beyond Air, through its wholly owned Irish subsidiary, NeuroNOS Limited, holds 5,000,000 ordinary shares of NeuroNOS, representing approximately 58% of NeuroNOS’s issued share capital on a fully diluted basis. Upon closing, UNIVO will purchase NeuroNOS Limited’s entire stake in NeuroNOS pursuant to a share purchase agreement among Beyond Air, NeuroNOS Limited and UNIVO. In exchange, Beyond Air will receive UNIVO ordinary shares representing 19.99% of UNIVO’s issued and outstanding share capital, together with warrants to purchase additional UNIVO ordinary shares representing 19.99% of UNIVO’s total outstanding options, warrants and other awards, exercisable at $0.01 per share for five years following closing.
Separately, under an intellectual property transfer agreement between Beyond Air and NeuroNOS Beyond Air will transfer to NeuroNOS certain intellectual property rights and other assets relating to NeuroNOS’s development programs, in consideration for development and commercial milestone payments up to $6.5 million in cash development milestone payments tied to the clinical advancement, regulatory approval and commercialization of a therapeutic product based on NeuroNOS intellectual property. Beyond Air will also be eligible to receive up to $26.0 million in additional commercial milestone payments upon achievement of specified net sales thresholds.
"This transaction marks an important next chapter for NeuroNOS and reflects our confidence in the science and the potential of its pipeline. By combining NeuroNOS with UNIVO, we are creating a more focused path to advance the company’s programs with dedicated resources, while allowing Beyond Air to remain focused on the continued growth and execution of our core LungFit business. We are proud of what has been built at NeuroNOS and look forward to remaining aligned with its progress as a UNIVO shareholder and long-term partner," said Robert Goodman, Chief Executive Officer of Beyond Air.
The transaction is expected to close following satisfaction of the conditions set forth in the definitive agreement, including applicable board and shareholder approvals, regulatory and stock exchange approvals, completion of the contemplated investment and other customary closing conditions.
(Press release, Beyond Air, AUG 25, 2026, View Source [SID1234670334])