AlphaTON Capital Executes Binding Call Option to Sell Legacy Biotech Asset iOx Therapeutics to Immunova

Core Insights - AlphaTON Capital Corp. has executed a binding call option agreement with Immunova, allowing Immunova to acquire iOx Therapeutics Limited, a subsidiary focused on developing liposomal iNKT agonists [1][2] Financial Structure - Upon the exercise of the option, AlphaTON will receive an upfront cash payment, equity consideration of 10% of the acquiring entity, milestone payments potentially exceeding $100 million, and single-digit royalties on future net sales [2] Product Development - iOx's lead candidate, PORT-2 (IMM60), has shown promise in advanced melanoma and metastatic NSCLC patients, demonstrating good tolerance and preliminary anti-tumor activity in clinical studies [3][4] Strategic Goals - The transaction is aimed at unlocking value from iOx while allowing AlphaTON to maintain significant participation in future successes through equity stakes and milestone payments [4][5] Management Statements - The CEO of AlphaTON emphasized the importance of this agreement for maximizing value across the portfolio and maintaining a focus on advancing other programs, including a mesothelioma initiative and a new AI-driven biotech project [5] Partnership Benefits - Immunova's CEO highlighted the alignment of their expertise in lipid science with the iOx portfolio, indicating a commitment to a disciplined, biomarker-driven development strategy [5]