Shares of Lunai Bioworks Inc. ( LNAI ) are soaring Thursday after the company announced that it will acquire blood-brain barrier delivery technology and central nervous system Alzheimer’s drug assets from the Clemann Group for $20 million.

Lunai Bioworks ( LNAI ) stock is surging to new heights today. What’s behind LNAI gains?

Lunai To Acquire Alzheimer Drug Assets

Lunai Bioworks ( LNAI ) executed a binding $20 million strategic transaction to acquire blood-brain barrier delivery technology and central nervous system (CNS) Alzheimer’s drug assets from the Clemann Group. The transaction is structured as Series B Convertible Preferred at a fixed conversion price of $1.50 per share, subject to a 19.9% beneficial ownership limitation.

Notably, this platform has broad CNS delivery applications, indicating that Lunai Bioworks ( LNAI ) is making strides in its endeavors within the CNS and Alzheimer’s therapy sector. The acquisition brings a delivery platform to Lunai that addresses effectively transporting therapeutics into the brain.

“This is a step-change in our capabilities,” said David Weinstein, CEO of Lunai Bioworks ( LNAI ). “We are now combining the ability to identify the right biology with a validated mechanism to deliver therapies directly into the brain. This has profound implications for how we treat Alzheimer’s and other complex CNS diseases that have historically been unreachable.”

LNAI Shares Soar In Regular Trading

LNAI Stock Price Activity: Lunai Bioworks ( LNAI ) shares were up 57.29% at roughly 63 cents at the time of publication on Thursday, according to Benzinga Pro data.

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