Oncotelic Therapeutics, Inc. recently announced its joint venture partner, GMP Bio, has completed an independent third-party valuation of its drug development pipeline. The preliminary valuation, conducted by Frost & Sullivan (Hong Kong), estimates the potential value of the joint venture’s therapeutic pipeline at approximately $1.7 billion.

Based on its 45% ownership interest, this represents an illustrative potential value of approximately $765 million to Oncotelic. The valuation is non-binding, forward-looking, and does not represent fair value under U.S. GAAP. Oncotelic has initiated a separate ASC-compliant valuation to support future financial reporting.

If the forthcoming ASC-compliant valuation supports a carrying value materially higher than the current balance sheet amount, Oncotelic may recognize an increase in the reported value of its minority interest in GMP Bio in future reporting periods. Any such adjustment would be recorded in accordance with U.S. GAAP fair-value measurement standards and could result in a meaningful increase to total assets and shareholders’ equity. The magnitude and timing of any accounting impact will depend entirely on the conclusions of the independent valuation and applicable accounting guidance.

“This represents one of the most significant milestones in Oncotelic’s history,” said Dr. Vuong Trieu, Chief Executive Officer of Oncotelic Therapeutics. “The independent valuation recognizes the multi-year scientific and clinical progress achieved through our GMP Bio joint venture and affirms the long-term potential of OT-101 and our Deciparticle™ nanomedicine platform.”

The joint venture has advanced OT-101 into Phase 3 PDAC trial and Phase 2 combination studies in multiple indications. In parallel, GMP Bio continues to expand the Deciparticle™ Nanomedicine Platform, which now supports multiple therapeutic candidates entering clinical development. The joint venture’s GMP-licensed manufacturing facility in San Diego is also fully operational to support upcoming clinical programs.

The JV is preparing for a potential initial public offering on the Hong Kong Stock Exchange in late 2026. While the timing and outcome of any such offering remain subject to market conditions and regulatory review, Oncotelic believes the pipeline valuation highlights the strategic value of the planned transaction.

“We look forward to completing our ASC-compliant valuation and continuing to advance the joint venture toward key clinical, operational, and strategic milestones,” added Dr. Trieu.

Oncotelic Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development of oncology and immunotherapy products. The Company’s mission is to address high-unmet-need cancers and rare pediatric indications with innovative, late-stage therapeutic candidates.

In addition to its directly owned and developed drug pipeline, Oncotelic benefits from the robust portfolio of inventions created by its CEO, Dr. Vuong Trieu, who has filed over 500 patent applications and holds 75 issued patents. Beyond its internal programs, the Company also licenses and co-develops select drug candidates through joint ventures. Currently, Oncotelic owns 45% of GMP Bio, a joint venture under Dr. Trieu’s leadership and guidance, which is advancing its own pipeline of drug candidates that further complement and strengthen Oncotelic’s strategic position in oncology and rare disease therapeutics. For more information, visit: www.oncotelic.com.