NLS Pharmaceutics and Kadimastem completed their merger on October 30, 2025, forming NewcelX Ltd. The new company will trade on Nasdaq under the ticker NCEL beginning November 4, 2025.
The closing included a 1‑for‑10 reverse split of NLS shares, reducing the exchange ratio to 0.706 NLS shares per Kadimastem share. Kadimastem shares were delisted from the Tel Aviv Stock Exchange on October 31, 2025, and shares of NewcelX were deposited into Kadimastem shareholders’ accounts by the end of the trading day on November 3, 2025.
The merger expands NLS’s portfolio beyond its central nervous system focus into cell therapy and diabetes. Kadimastem brings its IsletRx program for type 1 diabetes and AstroRx program for ALS, along with a partnership with TargetGene Biotechnologies to advance gene‑edited cell therapies. The combined entity will continue the BIRD Foundation‑supported ITOL‑102 type 1 diabetes program under NewcelX.
Prior to the merger, NLS completed a 1‑for‑40 reverse split in September 2024 and maintains an equity line of credit to support operations for at least the next 12 months. The new capital structure positions NewcelX to pursue growth opportunities in both CNS and cell‑therapy markets.
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.