NewcelX Enters into Binding Term Sheet to Divest Legacy Mazindol Portfolio (CVR), Providing for Upfront Cash, Equity Ownership and Up to $55 Million in Potential Milestone Payments
Globe Newswire•04/11/2026•08:00 ET
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Key Highlights
- ➤$500,000 upfront consideration includes $30,000 cash and 9.4% REA equity
- ➤Up to $55 million milestone payments plus 2%-8% worldwide royalties
- ➤NewcelX divests worldwide Mazindol portfolio to focus on NCEL-101 cell therapy
- ➤Transaction remains subject to definitive documents and customary closing conditions
Expert Statements
Ronen Twito, Chief Executive Officer and Chairman of NewcelX
“We invested significant effort in finding the right buyer for the legacy Mazindol CVR assets, one with the business experience, and execution capabilities to advance the portfolio and realize Mazindol’s full potential”
Ronen Twito, Chief Executive Officer and Chairman of NewcelX
“We believe REA's team, to be led by Ronald Hafner, the former Chairman of our predecessor NLS Pharmaceutics, is going to be well positioned to drive this opportunity forward while we maintain our focus on our core cell-therapy pipeline, led by NCEL-101 for Type 1 diabetes.”
Ronen Twito, Chief Executive Officer and Chairman of NewcelX
“Importantly, this structure is expected to enable Mazindol advancement without NewcelX funding its development, while preserving potential meaningful upside for both CVR holders and NewcelX through equity, milestones and royalties.”
Ronald Hafner, Proposed Chairman and Chief Executive Officer of REA Holdings
“Mazindol represents a pharmaceutical asset with an established body of scientific and clinical work and opportunities that we believe deserve dedicated attention”
Ronald Hafner, Proposed Chairman and Chief Executive Officer of REA Holdings
“We aim to advance Mazindol through a focused development and partnering strategy, with potential long-term value participation for legacy CVR beneficiaries and NewcelX.”
Transaction provides $500,000 upfront of which $30,000 is in cash and the remainder in shares, representing a 9.4% equity stake in REA Holdings, alongside potential worldwide royalties of up to 8%
Strategic divestiture of legacy CVR assets supports NewcelX's cell-therapy focus while preserving potential future value for CVR holders and NewcelX
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