LIXTE Biotechnology Holdings (NASDAQ: LIXT) announced that its previously disclosed acquisition of NOMAD Transportable Power Systems is expected to close on or about July 1, 2026, subject to customary conditions and approvals. To support NOMAD's operations ahead of closing, LIXTE will provide a $6.5 million loan to fund procurement of long-lead components, working capital, and scale manufacturing against its growing order pipeline for deployable utility-grade battery energy storage systems.
Upon completion of the transaction, the company expects to rename itself NOMAD Power Solutions, Inc. and adopt a new Nasdaq ticker symbol. NOMAD's mobile, utility-grade battery energy storage platform is designed for rapid deployment and reliable power for utilities, industrial users, and data centers. This positions the combined entity to benefit from rising electricity demand driven by artificial intelligence infrastructure and high-density computing applications.
The announcement marks a significant strategic pivot for LIXTE, which has traditionally focused on cancer drug development. LIXTE's lead compound, LB-100, is a first-in-class clinical PP2A inhibitor that has demonstrated tolerability in cancer patients with anti-cancer activity. The company also operates a wholly owned subsidiary, Liora Technologies Europe Ltd., which develops electronically controlled proton therapy systems for treating tumors. Liora's LiGHT System is believed to offer advantages over existing proton therapy technologies.
However, the NOMAD acquisition signals a diversification into energy storage, a sector experiencing surging demand. With NOMAD's deployable battery systems, the merged company aims to address grid reliability and backup power needs, particularly for energy-intensive AI and data center applications. The pre-closing loan ensures NOMAD can continue to build inventory and fulfill orders while the acquisition is finalized.
Investors can find the latest news and updates relating to LIXT in the company's newsroom at https://ibn.fm/LIXT. The full press release is available at https://ibn.fm/s0uCh.
This acquisition comes at a time when the energy storage market is poised for growth, driven by the need for reliable power for critical infrastructure. The mobile nature of NOMAD's systems offers flexibility for utilities and industrial users facing grid constraints or requiring temporary power solutions. For data center operators, the ability to deploy rapid, utility-grade storage can mitigate risks from power outages or peak demand charges.
The deal is expected to close around mid-2026, subject to regulatory approvals and other closing conditions. In the interim, the $6.5 million loan provides NOMAD with working capital to scale production and meet customer demand. The combined entity, NOMAD Power Solutions, will be positioned to compete in the growing market for grid-scale and commercial battery storage.
