07:40 AM EDT, 07/08/2026 (MT Newswires) -- BiomX ( PHGE ) said its wholly owned subsidiary, BiomX Israel Defense and Security, signed a non-binding letter of intent to acquire a 60% controlling interest in Israeli security systems integrator Tsoock Defense Technologies for $10.4 million.

The company said the proposed deal includes an initial payment of $300,000, with the remaining $10.1 million payable in four quarterly installments over 12 months.

BiomX ( PHGE ) said it would also have an option to acquire the remaining 40% stake for $9.2 million within 36 months after closing.

The transaction remains subject to due diligence, financing, regulatory approvals and definitive agreements, and may not be completed, it added.