- NLS Pharmaceutics Ltd. (NLSP) is proceeding with its merger with Kadimastem Ltd., with the merger agreement initially signed on **November 4, 2024**, and approved by shareholders on **January 30, 2025**.  **[1783036_0001213900-25-097887_ea0260720-6k_nlspharma.htm:0]** **[1783036_0001213900-25-097887_ea026072001ex99-1_nlspharma.htm:5]**  The deadline for completing the merger has been extended to **October 31, 2025**.  **[1783036_0001213900-25-097887_ea026072001ex99-1_nlspharma.htm:7]** 
- Upon completion of the merger, Kadimastem shareholders are expected to hold up to **85%** of the issued and outstanding shares of the merged company.  **[1783036_0001213900-25-097887_ea026072001ex99-1_nlspharma.htm:5]** **[1783036_0001213900-25-097887_ea026072001ex99-2_nlspharma.htm:26]**  The merger is contingent on NLS ensuring the continued trading of its common shares on Nasdaq and compliance with necessary threshold conditions.  **[1783036_0001213900-25-097887_ea026072001ex99-1_nlspharma.htm:5]** 
- Kadimastem Ltd. reported a **loss of $11,204 thousand** for the six months ended June 30, 2025, and a **loss of $7,178 thousand** for the year ended December 31, 2024.  **[1783036_0001213900-25-097887_ea026072001ex99-1_nlspharma.htm:1]**  The company's financial statements indicate **substantial doubt about its ability to continue as a going concern**.  **[1783036_0001213900-25-097887_ea026072001ex99-2_nlspharma.htm:0]** 
- NLS and Kadimastem have engaged in fundraising efforts, including a private fundraising round for NLS of **$3 million** (with **$2 million** completed) and a framework agreement for a **$25 million** investment in NLS.  **[1783036_0001213900-25-097887_ea026072001ex99-2_nlspharma.htm:35]**  Total fundraising efforts, including previous rounds, amount to approximately **$6.7 million**, plus the **$25 million** future investment framework.  **[1783036_0001213900-25-097887_ea026072001ex99-2_nlspharma.htm:36]**

NLS Pharmaceutics Merger with Kadimastem Progresses Amidst Financial Concerns and Fundraising Efforts

- NLS Pharmaceutics Ltd. shareholders approved the merger with Kadimastem and related proposals at an Extraordinary General Meeting held on **September 29, 2025**, removing the final corporate hurdle prior to closing.  **[1783036_0001213900-25-093387_ea025937501ex99-1_nlspharma.htm:0]** 
- The combined company will be named **NewCelX Ltd.** and is expected to trade on Nasdaq under the ticker **"NCEL"**, subject to final Nasdaq approval.  **[1783036_0001213900-25-093387_ea025937501ex99-1_nlspharma.htm:0]** 
- Upon closing, Kadimastem shareholders will own **84.4%** of the combined company, and NLS shareholders will own **15.6%**.  **[1783036_0001213900-25-093387_ea025937501ex99-1_nlspharma.htm:0]** 
- The merger creates a diversified pipeline, uniting Kadimastem’s advanced cell therapy programs with NLS’s CNS small-molecule expertise.  **[1783036_0001213900-25-093387_ea025937501ex99-1_nlspharma.htm:0]**

NLS Pharmaceutics Shareholders Approve Merger with Kadimastem

- **NLS Pharmaceutics shareholders approved the merger with Kadimastem Ltd.** and all related proposals at an Extraordinary General Meeting held on **September 29, 2025**, clearing the final corporate milestone for the merger.  **[1783036_20250930IO86758:0]** 
- The combined company will be named **NewCelX Ltd.** and is expected to trade on Nasdaq under the ticker **"NCEL"**.  **[1783036_20250930IO86758:0]** 
- Upon closing, **Kadimastem shareholders will own 84.4%** of the combined company, while **NLS shareholders will own 15.6%**.  **[1783036_20250930IO86758:0]** 
- The new leadership team will include **Ronen Twito as Executive Chairman and Chief Executive Officer** and **Prof. Michel Revel as Chief Scientific Officer and Director**.  **[1783036_20250930IO86758:0]** 
- The merger creates a company with a **diversified pipeline**, uniting Kadimastem's advanced cell therapy programs with NLS's CNS small-molecule expertise.  **[1783036_20250930IO86758:0]** **[1783036_20250930IO86758:1]**

NLS Pharmaceutics (NLSP)