Lunai Bioworks Acquires Neurobridge IP Holdings and CNS Patent Portfolio for $20M in Preferred Stock

On April 27, 2026, Lunai Bioworks, Inc. entered into a Merger Agreement to acquire Neurobridge IP Holdings Incorporated, a company whose sole assets consist of a multi-jurisdictional patent portfolio. The acquisition, completed on May 1, 2026, involved merging Holdings into a wholly owned subsidiary of Lunai. In consideration, Lunai issued eight shares of newly designated Series B Convertible Preferred Stock with an aggregate stated value of $20,000,000 to the former holders, Oncotelic Inc. (62.5%) and Pelerin Therapeutics Inc. (37.5%). The Series B stock is convertible into common stock at $1.50 per share, subject to stockholder approval and a 4.99% beneficial ownership blocker. The acquired patents include the Pelerin Patent Family (heterocyclic compounds for Alzheimer’s) and the Oncotelic Patent Family (anti-TGF-beta agents and intranasal delivery for neurological disorders like Parkinson’s). This transaction was strategically structured to regain compliance with Nasdaq’s $2.5 million stockholders’ equity requirement, following a delisting notice received in February 2026. Lunai believes the $20,000,000 equity addition satisfies the requirement, pending a formal determination from the Nasdaq Hearings Panel.