Oncotelic sells necroptosis cancer therapy assets to Mosaic for up to $30M

Oncotelic Therapeutics, Inc.

Mosaic to issue $15M in shares at closing; Oncotelic may earn $15M more in cash/shares based on milestones.
Transaction includes Oncotelic's CA4P clinical-stage necroptosis therapies and AI tech for immunotherapy combos.
Mosaic to fund $2.0-$2.5M annual development budget; Oncotelic to loan short-term operational costs until June 1, 2024.
If Oncotelic cannot help raise $2M for Mosaic, transaction may become reverse merger.
Parties to negotiate definitive agreement; closing subject to customary due diligence.

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