Oncotelic forms JV with Dragon Overseas for TGF-beta drug OT-101; Dragon invests ~$27.6M for 55% stake

Oncotelic Therapeutics, Inc.

Oncotelic contributed global, exclusive, perpetual, royalty-free license of OT-101 IP for 45% ownership in JV.
Dragon Overseas invested ~$27.6M in cash and assets for 55% ownership of the JV.
JV to develop OT-101 for DIPG, pancreatic cancer, glioblastoma; company retains up to $50M from RPD voucher sale.
Oncotelic intends to pursue IPO of JV, citing recent successful TGF-beta IPOs.
JV will assume development costs; Oncotelic will participate via JV equity and voucher proceeds.

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