NLS Pharmaceutics Shareholders Approve Merger with Kadimastem and Related Proposals at Extraordinary General Meeting
NLS Pharmaceutics (NASDAQ: NLSP) shareholders have approved the merger with Kadimastem (TASE: KDST) at an Extraordinary General Meeting on September 29, 2025. The combined company will be renamed NewCelX Ltd. and trade on Nasdaq under the ticker "NCEL".
Under the approved terms, Kadimastem shareholders will own 84.4% of the combined company, while NLS shareholders will retain 15.6%. The merger unites Kadimastem's cell therapy programs, including a Phase 2a ALS study of AstroRx® and IsletRx diabetes program, with NLS's CNS small-molecule expertise. Ronen Twito will serve as Executive Chairman & CEO, while Prof. Michel Revel, Kadimastem's founder and developer of the successful MS drug Rebif®, will become Chief Scientific Officer.
NLS Pharmaceutics (NASDAQ: NLSP) azionisti hanno approvato la fusione con Kadimastem (TASE: KDST) in un’Assemblea Generale Straordinaria il 29 settembre 2025. L’azienda risultante si chiamerà NewCelX Ltd. e sarà negoziata sul Nasdaq con il ticker NCEL.
Secondo i termini approvati, gli azionisti di Kadimastem possederanno l’84,4% della società combinata, mentre gli azionisti di NLS manterranno il 15,6%. La fusione unirà i programmi di terapia cellulare di Kadimastem, tra cui uno studio di fase 2a sull’ALS di AstroRx® e il programma IsletRx per il diabete, con l’expertise di NLS nelle piccole molecole CNS. Ronen Twito ricoprirà il ruolo di Presidente esecutivo e CEO, mentre il Prof. Michel Revel, fondatore di Kadimastem e sviluppatore del successo di Rebif® per la sclerosi multipla, diventerà Chief Scientific Officer.
NLS Pharmaceutics (NASDAQ: NLSP) accionistas han aprobado la fusión con Kadimastem (TASE: KDST) en una Junta General Extraordinaria el 29 de septiembre de 2025. La empresa fusionada se llamará NewCelX Ltd. y cotizará en Nasdaq con el ticker NCEL.
Según los términos aprobados, los accionistas de Kadimastem poseerán el 84,4% de la empresa combinada, mientras que los accionistas de NLS retendrán el 15,6%. La fusión une los programas de terapia celular de Kadimastem, incluido un estudio de fase 2a para ALS de AstroRx® y el programa IsletRx para diabetes, con la experiencia de NLS en pequeñas moléculas para el SNC. Ronen Twito ocupará el cargo de Presidente Ejecutivo y CEO, mientras el Prof. Michel Revel, fundador de Kadimastem y desarrollador del exitoso fármaco Rebif® para la esclerosis múltiple, se convertirá en Chief Scientific Officer.
NLS Pharmaceutics(NASDAQ: NLSP) 주주들은 2025년 9월 29일 임시주총에서 Kadimastem(TASE: KDST)과의 합병을 승인했습니다. 합병 후 회사는 새 이름으로 NewCelX Ltd.로 불리며 Nasdaq에서 NCEL 티커로 거래됩니다.
승인된 조건에 따르면 Kadimastem 주주는 합병된 회사의 84.4%를 소유하고, NLS 주주는 15.6%를 보유합니다. 이 합병은 Kadimastem의 세포 치료 프로그램( AstroRx®의 ALS 2상 연구 및 IsletRx 당뇨병 프로그램 포함)을 NLS의 CNS 소분자 전문지식과 결합합니다. Ronen Twito가 Exec Chairman 및 CEO로, Kadimastem의 창립자이자 MS 치료제 Rebif®의 개발자인 Michel Revel 교수가 CSO로 취임합니다.
NLS Pharmaceutics (NASDAQ : NLSP) actionnaires ont approuvé la fusion avec Kadimastem (TASE : KDST) lors d’une Assemblée Générale Extraordinaire le 29 septembre 2025. L’entreprise fusionnée sera renommée NewCelX Ltd. et sera négociée au Nasdaq sous le ticker NCEL.
Selon les termes approuvés, les actionnaires de Kadimastem détiendront 84,4 % de la société fusionnée, tandis que les actionnaires de NLS conserveront 15,6 %. La fusion réunit les programmes de thérapie cellulaire de Kadimastem, notamment une étude de phase 2a sur l’ALS d’AstroRx® et le programme IsletRx pour le diabète, avec l’expertise de NLS en petites molécules pour le SNC. Ronen Twito occupera les fonctions de Président exécutif et PDG, tandis que le Prof. Michel Revel, fondateur de Kadimastem et développeur du médicament à succès Rebif® pour la sclérose en plaques, deviendra Chief Scientific Officer.
Die Aktionäre von NLS Pharmaceutics (NASDAQ: NLSP) haben die Fusion mit Kadimastem (TASE: KDST) auf einer außerordentlichen Hauptversammlung am 29. September 2025 genehmigt. Das fusionierte Unternehmen trägt den Namen NewCelX Ltd. und wird an der Nasdaq unter dem Ticker NCEL gehandelt.
Gemäß den genehmigten Bedingungen werden Kadimastem-Aktionäre 84,4% des fusionierten Unternehmens besitzen, während NLS-Aktionäre 15,6% halten. Die Fusion vereint Kadimastems Zelltherapie-Programme, darunter eine Phase-2a-ALS-Studie von AstroRx® und das IsletRx-Diabetes-Programm, mit der Expertise von NLS im Bereich CNS-Kleinmoleküle. Ronen Twito wird als Executive Chairman & CEO fungieren, während Prof. Michel Revel, Gründer von Kadimastem und Entwickler des erfolgreichen MS-Medikaments Rebif®, Chief Scientific Officer wird.
وافق مساهمو NLS Pharmaceutics (ناسداك: NLSP) على الدمج مع Kadimastem (تاسي: KDST) في اجتماع الجمعية العامة غير العادية بتاريخ 29 سبتمبر 2025. ستُسمّى الشركة المدمجة NewCelX Ltd. وستتداول في Nasdaq بالرمز NCEL.
وفق الشروط المعتمَدة، ستمتلك مساهمو Kadimastem 84.4% من الشركة المدمجة، بينما سيحتفظ مساهمو NLS بنسبة 15.6%. يجمع الدمج برامج العلاج الخلوي لـ Kadimastem، بما في ذلك دراسة المرحلة 2a لـ ALS من AstroRx® وبرنامج IsletRx لمرض السكري، مع خبرة NLS في جزيئات CNS الصغيرة. سيتولى رونن تويتو منصب رئيس مجلس الإدارة التنفيذي والرئيس التنفيذي، بينما سيصبح البروفيسور ميشيل ريفيل، مؤسس Kadimastem ومطوّر دواء Rebif® الناجح لمرض التصلب المتعدد، رئيساً للعلوم.
NLS Pharmaceutics(NASDAQ: NLSP) 股东在 2025 年 9 月 29 日的非常任股东大会上批准了与 Kadimastem(TASE: KDST)的合并。合并后的公司将更名为 NewCelX Ltd.,并在纳斯达克交易,代码为 NCEL。
根据批准的条款,Kadimastem 的股东将持有合并后公司 84.4% 的股份,而 NLS 的股东将保留 15.6%。此次合并将 Kadimastem 的细胞治疗项目(包括 AstroRx® 的 ALS 二期研究及 IsletRx 糖尿病项目)与 NLS 在中枢神经系统小分子领域的专长结合起来。Ronen Twito 将担任执行主席兼首席执行官,Kadimastem 的创始人兼开发出成功的 MS 药物 Rebif® 的 Michel Revel 教授将成为首席科学官。
- Creation of a diversified biotechnology portfolio combining cell therapy and small-molecule expertise
- Leadership includes Prof. Michel Revel, who developed Rebif®, a drug with peak annual sales of $2.4B
- Advanced clinical pipeline including Phase 2a ALS trial and diabetes program with successful pre-IND meeting
- Nasdaq listing provides increased visibility and potential access to capital markets
- Significant dilution for existing NLS shareholders, receiving only 15.6% ownership in combined company
- Major restructuring of leadership and governance could lead to integration challenges
Insights
NLS Pharmaceutics shareholders approved merger with Kadimastem, creating NewCelX with diversified clinical pipeline and experienced leadership.
This merger approval represents a significant structural transformation for both NLS Pharmaceutics and Kadimastem. The shareholder vote was the final corporate milestone before closing, setting the stage for the creation of NewCelX Ltd, which will trade on Nasdaq under ticker "NCEL". The exchange ratio grants Kadimastem shareholders 84.4% ownership of the combined entity, with NLS shareholders retaining 15.6% – reflecting relative value contributions and NLS's net cash position.
The strategic rationale centers on creating a diversified biotechnology platform that combines Kadimastem's advanced cell therapy programs (including Phase 2a ALS study of AstroRx® and IsletRx diabetes program) with NLS's CNS small-molecule expertise. This complementary integration potentially creates a more balanced risk profile across multiple therapeutic modalities.
The governance structure has been comprehensively revamped, with Ronen Twito assuming the Executive Chairman & CEO positions. Notably, Prof. Michel Revel, Kadimastem's founder and incoming Chief Scientific Officer, brings substantial scientific credibility and commercialization experience – his previous work led to Rebif®, a multiple sclerosis therapy that generated
The deal's approval included crucial capital structure adjustments (par value reduction, reverse stock split, capital increase) designed to facilitate the share exchange and satisfy Nasdaq listing requirements – essential mechanisms for ensuring regulatory compliance and market visibility post-merger. This restructuring creates a platform with expanded clinical capabilities and potential access to broader funding opportunities through its Nasdaq listing.
Vote clears final corporate milestone, paving the way for the closing of the merger and the combined company of NewCelX Ltd., a Nasdaq-listed biotechnology company
The merger will create:
Nasdaq-listed company: Under the symbol "NCEL": Governance and capital structure approvals completed
Diversified pipeline: Unites Kadimastem's advanced cell therapy programs (including a Phase 2a ALS study of AstroRx® and the IsletRx diabetes program) with NLS's CNS small-molecule expertise.
An experienced leadership team and streamlined governance structure: The committees and board of directors, will be headed by Ronen Twito, the Executive Chairman & Chief Executive Officer of the combine company, and will be reconstituted to enable execution and institutional visibility. Prof. Michel Revel, founder of Kadimastem, who will be the Chief Scientific Officer and a director of the combined company, is a globally recognized pioneer in cell therapy. His work produced Rebif®, a recombinant interferon-beta therapy for multiple sclerosis, approved worldwide and commercialized by Merck-Serono, with over 20 years on the market, peak annual sales of
Key Approvals Include:
- Merger Agreement: Shareholders voted in favor of the merger with Kadimastem, under which the combined company will be named NewCelX Ltd. and trade on Nasdaq under the ticker "NCEL."
- Capital Structure: Approval of the par value reduction, reverse stock split, and capital increase, facilitating the share exchange with Kadimastem shareholders and to satisfy Nasdaq listing requirements.
- Board & Governance: Election of a new Board of Directors, subject to the closing of the merger, and management by Kadimastem, with Ronen Twito serving as Executive Chairman and Chief Executive Officer. Additional directors will include Prof. Michel Revel as Chief Scientific Officer and Director, Eran Iohan, Liora Oren, and Tammy Galili as directors. Upon closing, the Compensation, Audit Nomination and Governance Committee will also be newly constituted.
- Articles of Association: Reinstatement of the capital band, amendments to conditional capital for employee and shareholder options, alongside other corporate governance measures.
- Company Name Change: Approval to rename the company to NewCelX AG in connection with the closing of the merger.
Exchange Ratio
Under the approved terms, upon closing, Kadimastem shareholders will own
Alexander Zwyer, Chief Executive Officer of NLS Pharmaceutics, commented:
"We are grateful to our shareholders for their strong support of the merger and related proposals. Today's outcome marks a pivotal step in creating NewCelX, a biopharma leader with a unique pipeline spanning cell therapies and small molecules. We look forward to closing the merger and advancing our shared mission of addressing serious unmet medical needs."
Ronen Twito, Executive Chairman and CEO of Kadimastem, added:
"This is an important milestone for Kadimastem, NLS, and the companies' shareholders. With today's approvals, we believe we are closer than ever to completing the merger and launching NewCelX on Nasdaq. The combined company will unite Kadimastem's advanced cell therapy clinical programs, including a Phase 2a ALS trial of AstroRx® and our IsletRx diabetes product candidate following the successful pre-IND meeting with the FDA, with NLS's expertise in CNS small-molecule therapies. Together, we are building a diversified biotechnology company with the potential to deliver transformative therapies to patients worldwide."
About NLS Pharmaceutics
NLS Pharmaceutics Ltd. (NASDAQ: NLSP) is a Swiss-based biopharmaceutical company focused on the development of innovative therapies for central nervous system disorders and related indications. For more information, visit www.nlspharma.com.
About Kadimastem
Kadimastem Ltd. (TASE: KDST) is a clinical-stage cell therapy company developing allogeneic, "off-the-shelf" cell products for neurodegenerative diseases and diabetes. For more information, visit www.kadimastem.com.
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Forward-Looking Statements
This press release contains expressed or implied forward-looking statements pursuant to
Investor & Media Contacts
NLS Contacts:
InvestorRelations@nls-pharma.com
www.nlspharma.com
Kadimastem Contacts:
Sarah Bazak, Investors relations
s.bazak@kadimastem.com
www.kadimastem.com
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SOURCE NLS Pharmaceutics Ltd.; Kadimastem Ltd.