LIXTE Biotechnology Merges with NOMAD, Becomes Energy Storage Powerhouse

LIXTE Biotechnology Holdings, Inc. (NASDAQ: LIXT) has completed its merger with NOMAD Transportable Power Systems Inc., marking a strategic pivot from cancer drug development to utility-grade battery energy storage. The combined entity, now named NOMAD Power Solutions Inc., will trade under the ticker symbol “NMAD” starting July 6, 2026. As part of the transaction, LIXTE issued 2,992,041 shares of common stock and 50,366.07 shares of Series D preferred stock to NOMAD’s accredited stockholders. The company will focus on deployable battery storage systems to meet surging demand driven by artificial intelligence, electrification, grid modernization, and industrial expansion. CEO John Travaglini highlighted that NOMAD is engaged in over 30 active projects across North America, and public market access is expected to fuel manufacturing growth.

Previously, LIXTE was a clinical-stage pharmaceutical and med-tech company targeting cancer therapies, with its lead compound LB-100, a PP2A inhibitor, showing promise in enhancing chemotherapies and immunotherapies. Through its subsidiary Liora Technologies Europe Ltd., it also developed the LiGHT System for proton therapy. However, the merger transforms LIXTE into an energy storage powerhouse, leaving its biotech roots behind. The full press release is available at https://nnw.fm/hKuCR.

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