NeuroScientific Biopharmaceuticals Ltd (ASX:NSB) Completes StemSmart Acquisition
Acquisition Details
NeuroScientific Biopharmaceuticals Ltd (NSB) has successfully acquired 100% of Isopogen WA, which holds the StemSmart™ patented Stem Cell technology. Following a placement to institutional, professional, and sophisticated investors, NSB has approximately $7.5 million in cash on hand.
Board Appointments
Robert McKenzie has been appointed as Non-Executive Chairman and Paul Fry as Non-Executive Director, effective from 27 June 2025. Mr McKenzie and Mr Fry each received 5,000,000 unquoted options, exercisable at $0.07 each. Additionally, Mr Fry will enter into a consultancy arrangement during the transitional period. Tony Keating and Christopher Ntoumenopoulos have resigned from their positions as Executive Director and Non-Executive Chairman, respectively.
Clinical Programs
NSB has commenced the Special Access Program (SAS Program) for fistulising Crohn’s disease, focusing on alternative treatments with fewer side effects. Early indications from a Phase 2 trial suggest StemSmart™ MSC therapy is potent, efficacious, and safe, with most patients showing clinical improvement or remission.
Executive Comments
Incoming Chairman Robert McKenzie stated, “I’m pleased that NSB’s acquisition of Isopogen will allow our StemSmart™ technology to be progressed for the benefit of vulnerable patients with limited treatment options. Our immediate focus will be on a special access clinical program in fistulising Crohn’s disease which is challenging to treat and where sustained healing has proven limited with standard therapies. Longer term our desire is to further clinical activities to progress the technology to achieve regulatory approval. On behalf of the board, I’d like to thank outgoing directors Chris Ntoumenopoulos and Tony Keating for their services, and I look forward to working with Anton, Clarke and Paul during this exciting period for NSB.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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