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NeOnc Technologies Names First Abu Dhabi Bank Executive Ali Alabedin to Board

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NTHI$2.60 −4.95%

NeOnc Technologies Holdings, Inc. (NASDAQ:NTHI) has appointed Ali Alabedin to its board of directors, effective October 9, 2026. Alabedin currently serves as the head of the Islamic Banking Group at First Abu Dhabi Bank. He replaces Dr. Steven L. Giannotta, who stepped down from the board but remains on the company's scientific advisory board. Shares of NeOnc fell 4.95% to $2.595 following the announcement.

The addition of senior banking expertise aims to strengthen financial governance as the clinical-stage biopharmaceutical firm expands operations in the United Arab Emirates. NeOnc is focused on central nervous system cancer treatments designed to cross the blood-brain barrier. The Department of Health in Abu Dhabi recently granted investigational new drug authorization for NEO212, clearing a regulatory hurdle for upcoming trial work in the region.

Investors will be watching for NeOnc to secure remaining ethics approvals and satisfy pre-enrollment conditions to begin Phase 2 trials for NEO212 in Abu Dhabi. The company is also continuing clinical development of its NEO100 therapeutic candidate alongside its broader portfolio of brain cancer treatments.

Key points

  • Ali Alabedin joined the board of directors of NeOnc Technologies Holdings, Inc. (NASDAQ:NTHI) on October 9, 2026.
  • Alabedin brings over 30 years of international banking experience and currently leads the Islamic Banking Group at First Abu Dhabi Bank.
  • The Department of Health in Abu Dhabi granted IND authorization for NeOnc's NEO212 therapeutic, supporting plans for Phase 2 trials in the UAE.
  • Former board member Dr. Steven L. Giannotta stepped down from the board and will continue serving on the scientific advisory board.

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Questions and answers

Who joined the board of NeOnc Technologies?

Ali Alabedin, Head of the Islamic Banking Group at First Abu Dhabi Bank, joined the board of NeOnc Technologies Holdings, Inc. on October 9, 2026.

What clinical progress has NeOnc made in Abu Dhabi?

The Department of Health – Abu Dhabi granted IND authorization for NeOnc's NEO212, supporting plans to move the brain cancer candidate into Phase 2 clinical development.

What happened to Dr. Steven L. Giannotta?

Dr. Giannotta stepped down from NeOnc's board of directors but will remain active on the company's scientific advisory board.