Company: NCEL
Filing Date: 2025-06-16
Form Type: 425
Source: 0001213900-25-054487
Chunk: 2

Company: NewcelX Ltd.
Filing Date: 2025-06-16
Form: 425
Chunk 2
---
 therapeutic potential as we prepare for next-stage trials.                                           |

| · |

3. Merger with Kadimastem — Strategic Synergy in Action

| ● | In January 2025, following the approval by the                                                                                     
 board of directors of NLS and Kadimastem, Kadimastem’s shareholders overwhelmingly approved the merger, a critical step in closing 
 the merger and in bringing together the complementary strengths of Kadimastem and NLS.                                             |

| ● | Amendments to the Registration Statements on                            
 Form F-4 were filed, paving the way for the final NLS shareholder vote. |

Today, the merger process is progressing. We target completing the merger in early Q3 2025, subject to requirements set forth by all regulatory agents.

Ronen Twito, Executive Chairman and Chief Executive Officer of Kadimastem, said, “We are excited about the upcoming merger, which aligns with our strategic goals and will
enable us to provide comprehensive therapeutic options for patients. By joining forces, we can better serve those with diabetes and combat
its complexity. This merger demonstrates a commitment to innovation, patient care, and long-term value. Together, we aim to improve the
lives of diabetics and patients with related conditions. We are committed to ensuring a smooth integration process as we move forward,
following the completion of the merger. In addition to the equity investment, we believe the committed equity facility agreement of $25
million will enhance the combined company’s balance sheet and could provide flexibility to support future pipeline development.”

4. What the Combined Company Will Look Like

| ● | The combined entity will be named NewcelX and                                                                                            
 intends to be a Nasdaq-listed clinical-stage biotech with a robust pipeline spanning neurodegenerative disease (AstroRx® for amyotrophic 
 lateral sclerosis (“ALS”) in a Phase IIa stage), diabetes (IsletRx), and CNS disorders via the DOXA platform.                            |

| ● | Shareholders are expected to continue to benefit                                                              
 from our legacy assets—notably Mazindol ER—through contingent value rights subject to potential future sales. |

5. Looking Ahead

As we approach the anticipated closing of the
merger, we are preparing to rapidly initiate:

| ● | Phase IIa multi-site clinical trial for AstroRx®, 
 targeting ALS.                                    |

| ● | Phase I study for IsletRx in Type I diabetes. |

| ● | Continued preclinical progression of AEX-2/AEX-41