Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 293

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 293
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. Following the execution of the Finders Agreement, Oded Spindel arranged two distinct introductory Zoom calls involving NLS — represented by Alexander Zwyer — and two prospective counterparties: Party B and Kadimastem, represented by Ronen Twito. HCW, with Mr.Spindel in attendance, participated in both sessions, and no additional representatives were present. During each call, the parties exchanged their respective corporate decks to initiate discussions regarding potential strategic transactions. During the period from June 29, 2024 through July 28, 2024, members of NLS’s management team, namely Alexander Zwyer and Elena Thyen, as well as certain NLS Board members, including the chairman of the Board Ronald Hafner, with the assistance of its financial and legal advisors (Timothy Morris, an outside, financial advisor that supported NLS during this period of time, Sullivan & Worcester LLP, counsel to NLS, or Sullivan, and Wenger & Vieli Ltd., at that time Swiss counsel to NLS), evaluated and considered several potential target companies as candidates for a possible merger transaction. The evaluation and search process for target companies involved a structured and criteria -basedapproach. NLS began by developing a comprehensive target profile aligned with its strategic objectives. Key selection criteria included: •Therapeutic Alignment: companies operating in therapeutic areas synergistic with NLS’s existing pipeline or strategic expansion goals (e.g., neurology). •Development Stage: companies with assets in preclinical to Phase II development, where risk and upside potential were balanced. •Technology Platform: companies innovative or complementary technology platforms, including gene therapy, cell therapy, RNA -basedapproaches, and targeted biologics. •Intellectual Property (IP): companies with strong and defensible IP portfolios. •Financial Health: companies with reasonable valuation expectations, funding runway and absence of major liabilities. •Cultural and Strategic Fit: alignment in company culture and long -termstrategic vision. •Geographic Considerations: companies headquartered in North America, Israel or Europe to facilitate integration and regulatory alignment. 127 Based on these criteria, NLS screened a broad landscape of over 120 potential biotech companies potentially looking for a reverse merger. This initial list was refined through a combination of desk research, industry databases (e.g., PitchBook, EvaluatePharma), and input from the internal management team, board members, key advisors noted above along with external scientific and commercial industry experts and HCW, NLS’s financial advisor. After applying its criteria