Company: NCEL
Filing Date: 2025-02-05
Form Type: F-3
Source: 0001213900-25-010223
Chunk: 12

Company: NewcelX Ltd.
Filing Date: 2025-02-05
Form: F-3
Chunk 12
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LS following the 
 closing of the Merger may, incur significant costs in connection with the Merger.          |

| ● | Lawsuits                                                                                            
 may be commenced seeking to enjoin or prevent the Merger or seeking other relief which may          
 delay or prevent the completion of the Merger and result in NLS or Kadimastem incurring substantial 
 costs.                                                                                              |

| ● | The                                                                                               
 unaudited pro forma condensed consolidated financial information incorporated by reference        
 in this prospectus is presented for illustrative purposes only and may not be reflective          
 of what the operating results and financial condition of NLS for the historical periods presented 
 would have been or may be following consummation of the Merger.                                   |

| ● | If                                                                                         
 the Merger’s benefits do not meet the expectations of investors, shareholders or financial 
 analysts, the market price of securities may decline.                                      |

| ● | Even                                                                                                 
 if the Merger is completed, there is no guarantee that any proceeds will be paid to NLS shareholders 
 under the CVR Agreement.                                                                             |

| ● | Following                                                                                            
 the Merger, NLS intends to shift its business focus to developing and manufacturing “off-the-shelf”, 
 allogenic, proprietary cell products, which may not be successful.                                   |

| ● | Following                                                                                    
 the Merger, NLS may be unable to integrate successfully and realize the anticipated benefits 
 of the Merger.                                                                               |

| ● | Following                                                                                   
 the Merger, NLS’s business strategy will depend heavily on advancing and commercializing    
 its pipeline products. However, NLS’s research and development efforts are subject          
 to substantial risk, as drug development requires significant investment and faces inherent 
 uncertainties.                                                                              |

| ● | Kadimastem                                                                            
 has incurred significant operating losses since Kadimastem’s inception and anticipate 
 that Kadimastem will incur continued losses for the foreseeable future.               |

| ● | Kadimastem                                                                                    
 cannot give any assurance that any of its drug substances and product candidates will receive 
 regulatory approval, which is necessary before they can be commercialized.                    |

| ● | Kadimastem                                                                        
 has not generated revenue from any product candidate and may never be profitable. |

| ● | The                                                                                                
 results of Kadimastem’s clinical trials may not support its product candidates’                    
 claims or any additional claims Kadimastem may seek for its drug substances and product candidates 
 and its clinical trials may result in the discovery of adverse side effects