Lunai Bioworks Inc. (NASDAQ: LNAI) announced it executed a $20 million transaction to acquire blood-brain barrier delivery technology and central nervous system Alzheimer's drug assets from the Clemann Group, according to a company press release.

The transaction is structured as Series B Convertible Preferred at a fixed conversion price of $1.50 per share, subject to a 19.9% beneficial ownership limitation. The company stated the structure contains no variable pricing or reset provisions.

The acquisition includes delivery platform technology designed to transport therapeutics across the blood-brain barrier. The acquired chemistry allows compounds to cross into the brain, remain inactive in the body, and activate specifically inside the brain, targeting acetylcholinesterase modulation pathways.

"We are now combining the ability to identify the right biology with a validated mechanism to deliver therapies directly into the brain," said David Weinstein, CEO of Lunai Bioworks.

Lunai Bioworks operates as an AI-driven life sciences company focused on drug discovery through machine learning and clinical data integration. The company targets central nervous system diseases and oncology applications.

The Sacramento, California-based company trades on NASDAQ under the ticker LNAI. The transaction aims to enhance the company's CNS Alzheimer's pipeline and expand development capabilities for neurological disorders where traditional drugs face brain penetration challenges.