Company: NCEL
Filing Date: 2025-06-16
Form Type: 425
Source: 0001213900-25-054487
Chunk: 1

Company: NewcelX Ltd.
Filing Date: 2025-06-16
Form: 425
Chunk 1
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 NLS Pharmaceutics Ltd.(NASDAQ: NLSP), a Swiss clinical-stage biopharmaceutical company focused on developing innovative therapies for central nervous system (CNS) disorders, today issued a letter to its shareholders.

Dear Shareholders,

We are delighted to share a summary of NLS Pharmaceutics’
achieved milestones since the fourth quarter of 2024. Here’s a snapshot of our progress and what lies ahead:

1. Completion of Major Financing Events

| ● | During the first quarter of 2025, we initially                                                                                          
 closed two equity financing transactions, resulting in aggregate gross proceeds of $2.5 million, priced at $3.10 and $1.65 per share at 
 a premium to the market share price as of the date of the transactions, representing a premium of 48% and 10%, respectively.            |

| ● | In addition, we signed a $25 million equity facility commitment. The                           
 potential proceeds from this facility are earmarked to support the merger with Kadimastem Ltd. 
 (TASE: KDST). (“Kadimastem”) and the Company’s advance clinical programs.                      |

Since we first announced the proposed merger with Kadimastem, we have raised more than $6million in the aggregate to support the pending transaction and the combined company’s clinical trials post-merger. Moreover, we have converted all of the Company’s outstanding liabilities into equitys, reflecting a strong balance sheet of a company free of debt. These financing events have not only strengthened our balance sheet, but have extended our cash runway, enabling us to pursue continued research & development efforts and proceed with the execution of the merger.

2. Positive Clinical and Preclinical Developments

| ● | In February 2025, we announced encouraging preclinical                                                                    
 data for AEX-2, further validating our dual orexin receptor agonist platform (“DOXA”) for central nervous systems (“CNS”) 
 disorders.                                                                                                                |

| ● | In                                                                                                                                             
 February 2025, we announced that Kadimastem and iTolerance successfully completed a Pre-IND Meeting with the U.S. Food and Drug Administration 
 (FDA) for its Type 1 Diabetes Treatment, representing a significant asset for the merged company, NewcelX.                                     |

| ● | In April 2025, positive results from Study KO-943                                                                                     
 revealed that Mazindol ER significantly reduced fentanyl-induced reward behaviors in animal models. These results represent important 
 proof-points for both safety and