Beyond Air to receive shares representing 19.99% of Univo's issued and outstanding share capital upon closing

Beyond Air eligible to receive up to $32.5 million in development and commercial milestone payments

GARDEN CITY, N.Y., Aug. 25, 2026 (GLOBE NEWSWIRE) -- Beyond Air, Inc. (NASDAQ:XAIR) today announced that they have entered into a definitive agreement under which UNIVO Pharmaceutical Industries Ltd ("UNIVO") Univo Pharmaceutical Industries Ltd. ("UNIVO"), a public company whose shares are listed for trading on the Tel Aviv Stock Exchange (TASE:UNVO), will acquire control over the outstanding shares of NeuroNOS Israel Ltd. ("NeuroNOS"), a biopharmaceutical company focused on developing treatments for neurological disorders and neuro-oncology. The transaction is intended to provide NeuroNOS with dedicated resources, funding and strategic focus to advance its pipeline candidates targeting complex neurological disorders, including Autism Spectrum Disorder (ASD), brain cancers including Glioblastoma (GBM), and Alzheimer's disease.

Currently, Beyond Air, through its wholly owned Irish subsidiary, NeuroNOS Limited, holds 5,000,000 ordinary shares of NeuroNOS, representing approximately 58% of NeuroNOS’s issued share capital on a fully diluted basis. Upon closing, UNIVO will purchase NeuroNOS Limited’s entire stake in NeuroNOS pursuant to a share purchase agreement among Beyond Air, NeuroNOS Limited and UNIVO. In exchange, Beyond Air will receive UNIVO ordinary shares representing 19.99% of UNIVO’s issued and outstanding share capital, together with warrants to purchase additional UNIVO ordinary shares representing 19.99% of UNIVO’s total outstanding options, warrants and other awards, exercisable at $0.01 per share for five years following closing.

Separately, under an intellectual property transfer agreement between Beyond Air and NeuroNOS Beyond Air will transfer to NeuroNOS certain intellectual property rights and other assets relating to NeuroNOS’s development programs, in consideration for development and commercial milestone payments up to $6.5 million in cash development milestone payments tied to the clinical advancement, regulatory approval and commercialization of a therapeutic product based on NeuroNOS intellectual property. Beyond Air will also be eligible to receive up to $26.0 million in additional commercial milestone payments upon achievement of specified net sales thresholds.

The transaction is expected to close following satisfaction of the conditions set forth in the definitive agreement, including applicable board and shareholder approvals, regulatory and stock exchange approvals, completion of the contemplated investment and other customary closing conditions.