LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced the completion of its merger with NOMAD Transportable Power Systems Inc., making NOMAD a wholly owned subsidiary. In connection with the transaction, the company issued 2,992,041 shares of common stock and 50,366.07 shares of newly authorized Series D preferred stock to NOMAD’s accredited stockholders. The company also changed its corporate name to NOMAD Power Solutions Inc., effective July 3, 2026, and will begin trading under the ticker symbol “NMAD” on July 6, 2026.
The merger transforms LIXTE’s business to focus on deployable utility-grade battery energy storage systems, positioning it to address growing demand driven by artificial intelligence, electrification, grid modernization and industrial expansion. NOMAD will continue to operate under CEO John Travaglini, who said the business is engaged on more than 30 active utility, infrastructure and strategic customer projects across North America and expects public market access to support continued manufacturing expansion and growth. The full press release is available at https://nnw.fm/hKuCR.
LIXTE Biotechnology Holdings, Inc. was a clinical-stage pharmaceutical and med-tech company focused on new targets for cancer drug development and developing and commercializing cancer therapies. LIXTE had demonstrated that LB-100, its lead compound and first-in-class lead clinical PP2A inhibitor, is well-tolerated in cancer patients at doses associated with anti-cancer activity. Based on published preclinical data, LB-100 has the potential to significantly enhance chemotherapies and immunotherapies and improve outcomes for patients with cancer. It was part of a pioneering effort in an entirely new field of cancer biology – activation lethality – that is advancing a new treatment paradigm. LIXTE’s novel approach is covered by a comprehensive patent portfolio, with proof-of-concept clinical trials currently in progress for Ovarian Clear Cell Carcinoma, Metastatic Colon Cancer and Advanced Soft Tissue Sarcoma.
Through LIXTE’s wholly owned subsidiary, Liora Technologies Europe Ltd., the Company also was pioneering the development of electronically controlled proton therapy systems for treating tumors in various types of cancers. Liora’s proprietary flagship technology, LiGHT System, is believed to provide significant advantages over currently available technologies for treating tumors with proton therapy. Additional information about Liora Technologies can be found at www.lioratechnologies.com.
The merger marks a significant strategic pivot for the company, shifting from biotechnology to the energy storage sector, which is experiencing rapid growth due to increasing demand for reliable and sustainable power solutions. By acquiring NOMAD, the company gains immediate access to a portfolio of active projects and a management team experienced in deploying battery storage systems. This move allows the company to capitalize on the expanding market for grid-scale energy storage, driven by the proliferation of data centers for AI, the electrification of transportation, and the need to modernize aging grid infrastructure.
Investors can find the latest news and updates relating to LIXT in the company’s newsroom at https://nnw.fm/LIXT. The company’s new focus on battery storage under the NOMAD Power Solutions name positions it to participate in the energy transition, a sector with substantial long-term growth potential. The completion of this merger and the name change signify a new chapter for the company, as it leverages public market access to scale its manufacturing and expand its customer base across North America.
