Oncotelic Therapeutics Announces Closing of a Strategic Monetization of Its CNS/Nasal Assets with Lunai Bioworks, Advancing Joint Development in Biodefense and Alzheimer's Disease

AGOURA HILLS, Calif., May 06, 2026 (GLOBE NEWSWIRE) -- via IBN -- Oncotelic Therapeutics, Inc. (OTCQB: OTLC) (“Oncotelic” or the “Company”), a late-stage clinical biopharmaceutical company focused on oncology and rare diseases, today announced the consummation of a strategic asset transfer agreement with Lunai Bioworks, Inc. (“LNAI”) for its N2B (nose-to-brain) delivery system, establishing an initiative on biodefense and Alzheimer's disease (AD). In return, Oncotelic received $12.5 million in Lunai Bioworks Series B Convertible Preferred Stock. The Company continues to evaluate additional partnerships to further monetize its portfolio while maintaining strategic control over core assets.