KLTO News & Events

Klotho Neurosciences files to sell 35M shares of common stock for holders

Klotho Neurosciences announced that its Letter of Intent, or LoI, with Turn Biotechnologies was allowed to expire by the parties. Following careful evaluation, Klotho's Board of Directors determined that the proposed transaction did not fit its long-term strategic plan. Instead, the Company will focus its resources on advancing its Klotho anti-aging protein research pipeline and development of treatments, where it sees the greatest opportunity to deliver value for patients and shareholders.

Klotho Neurosciences has signed a Letter of Intent to acquire select assets from Turn Biotechnologies, a provider of induced pluripotent stem cells and cellular reprogramming. The proposed cash and stock transaction is subject to completion of due diligence, execution of a definitive agreement, and customary closing conditions. If completed, the transaction would position Klotho as a leader in the development of longevity therapeutics. Under the LOI, Klotho would acquire Turn's ERA - Epigenetic Reprogramming of Age - platform and eTurna RNA delivery system. These proprietary technologies are designed to rejuvenate somatic cells and restore tissue function, creating opportunities for a long list of regenerative therapies in dermatology, ophthalmology, immunology, osteoarthritis, muscle health and diseases like ALS. Klotho will be acquiring a signed out-licensing and co-development partnership with one of South Korea's pharmaceutical companies worth up to $300M. Upon completion of the contemplated transaction, Klotho plans to rebrand to reflect its broadened mission and expanded therapeutic reach. Klotho also intends to bring over key members of Turn's management and R&D teams post-close.