Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 119

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 119
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| Prof. Michel Revel, MD, PhD |     |  86 |     | Director nominee and Chief Scientific Officer          |
| Olivier Samuel              |     |  51 |     | Independent Director                                   |
| Eran Iohan                  |     |  54 |     | Independent Director nominee                           |
| Liora Oren                  |     |  47 |     | Independent Director nominee                           |
| Alexander C. Zwyer          |     |  56 |     | Director                                               |
| Tammy Galili                |     |  53 |     | Director nominee                                       |

Certain Material Swiss Tax Considerations (Page 282) For a description of certain material Swiss tax consequences of the Merger and the ownership and disposition of NLS Common Shares, see the section entitled “ Tax Considerations — Switzerland Tax Considerations.” Risk Factors (Page 25) In evaluating the proposals to be presented at the NLS Meeting, a shareholder should carefully read this proxy statement/prospectus and especially consider the factors discussed in the section entitled “Risk Factors” in this proxy statement/prospectus. These risks are summarized below. Summary of Risk Factors Investing in the NLS Common Shares and Warrants involves substantial risks. Our ability to execute our strategy is also subject to certain risks. The risks described below may cause us not to realize the full benefits of our strengths or may cause us to be unable to successfully execute all or part of our strategy. In particular, our risks include, but are not limited to, the following summary of such risk factors: •We depend substantially on mazindol as the drug substance for our current mid -stageproduct candidates, Quilience and Nolazol, and may be unable to use successfully, which could delay regulatory or marketing approval and negatively impact our business; •We may not be able to initiate Phase 3 clinical trials for Quilience without additional pre -clinicalmanufacturing or early -stagework; •Prior results of mazindol for the treatment of other indications may not be replicated in the clinical trials that we conduct for the treatment of narcolepsy or ADHD;

18 •We may rely on physician prescriptions to commercialize Quilience and/or Nolazol, and a loss of referrals could adversely impact our future revenues and business; •We may fail to comply with data protection laws or appropriate privacy practices; •Following the Merger, we intend to shift our business focus to developing and manufacturing “off -the-shelf,” allogenic,