N2OFF, a company traditionally focused on solar and battery technologies, announced that its newly acquired subsidiary MitoCareX has identified a set of hit compounds and is moving toward a preclinical candidate nomination. The milestone follows the completion of the acquisition on October 20 2025 and marks the first tangible progress in MitoCareX’s precision‑oncology platform.
MitoCareX’s proprietary MITOLINE™ algorithm has accelerated the discovery of molecules that target mitochondrial SLC25 transport proteins, which are implicated in aggressive lung and pancreatic cancers. The company estimates that the global therapeutic market for these indications will exceed $50 billion by 2026, positioning the platform to address a substantial unmet need. The hit‑to‑lead medicinal chemistry, pharmacokinetic profiling, and biological validation planned for 2026 are designed to nominate a preclinical candidate, a critical step toward IND‑enabling studies and eventual clinical trials.
Strategically, the move diversifies N2OFF’s portfolio beyond cleantech, creating a potential new revenue stream and an exit path for the biotech investment. MitoCareX is also exploring licensing agreements to extend MITOLINE™ beyond its core programs, which could generate non‑dilutive revenue and accelerate technology adoption. The acquisition aligns with N2OFF’s broader goal of leveraging high‑growth sectors to enhance long‑term value.
Financially, N2OFF reported a net income of $0.429 million for Q3 2025, a turnaround from a $2.26 million loss a year earlier. However, the nine‑month period ended September 30 2025 still showed a net loss of $5.27 million versus $3.82 million a year ago, and the company completed a 1‑for‑35 reverse stock split on September 22 2025 to maintain Nasdaq compliance. While the biotech venture represents a significant capital commitment, the potential upside of a successful preclinical candidate could offset the current financial strain and provide a new growth engine.
Dr. Alon Silberman, CEO of MitoCareX, outlined the company’s strategic direction in a shareholder letter, emphasizing the near‑term milestones of hit identification and preclinical nomination. He highlighted the platform’s unique focus on mitochondrial transport proteins and the role of MITOLINE™ in accelerating discovery. The company’s roadmap for 2026 signals confidence that the platform can progress to IND‑enabling studies, positioning N2OFF to capture value from both its cleantech and biotechnology businesses.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.