Beyond Air Inc. (NASDAQ: XAIR) has agreed to sell its entire stake in NeuroNOS Israel Ltd. to Univo Pharmaceutical Industries Ltd. (TASE: UNVO) in exchange for Univo ordinary shares representing 19.99% of its outstanding capital.
The transaction covers approximately 58% of NeuroNOS’s fully diluted share capital. Beyond Air will also receive warrants exercisable at $0.01 per share for five years, equivalent to 19.99% of Univo’s total outstanding options and awards. The deal remains subject to board and shareholder approvals, regulatory clearances, and other customary closing conditions.
Beyond Air will be eligible for up to $6.5 million in development milestone payments tied to clinical progress, regulatory approvals, and commercialization milestones for NeuroNOS’s intellectual property. Additional commercial milestone payments of up to $26 million may be triggered based on specified net sales thresholds.
NeuroNOS, a wholly owned Irish subsidiary of Beyond Air, develops therapeutic candidates for neurological disorders and neuro-oncology. Its lead programs include BA-102 for autism spectrum disorder and Alzheimer’s disease, which holds FDA orphan drug designation for Phelan-McDermid syndrome granted in 2025. BA-101, targeting glioblastoma, also secured FDA orphan drug designation in 2025.
The transaction aligns with Beyond Air’s strategy to monetize non-core assets while retaining exposure to NeuroNOS’s pipeline through milestone payments and equity-linked instruments.
