10:34 AM EDT, 07/08/2025 (MT Newswires) -- NeOnc Technologies ( NTHI ) said Tuesday it signed a non-binding term sheet with UAE-based Quazar Investment for a proposed $50 million equity investment to support its expansion in the Middle East and North Africa.

The agreement includes plans to establish NuroMENA Holdings, which will oversee NuroCure, an Abu Dhabi-based operating subsidiary.

NuroCure will manage clinical trials for NeOnc's ( NTHI ) late-stage oncology candidates, including NEO100 and NEO212, leveraging UAE's clinical trial infrastructure at Cleveland Clinic Abu Dhabi, which operates under US FDA protocols.

NeOnc ( NTHI ) said 70% of the proposed investment would be used to purchase its common shares at $25 per share, while the remaining 30% would fund clinical operations, regulatory filings, and infrastructure development in the region.

The company added that the deal marks its first international expansion and is subject to certain conditions, including final documentation and corporate approvals.

Shares of NeOnc Technologies ( NTHI ) were up 4.3% in recent trading.

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