Company: NCEL
Filing Date: 2025-02-10
Form Type: F-3
Source: 0001213900-25-011823
Chunk: 6

Company: NewcelX Ltd.
Filing Date: 2025-02-10
Form: F-3
Chunk 6
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 disorders. However, treatment options for these conditions are often limited, inadequate
or nonexistent, and the development of new CNS treatments generally trails behind other therapeutic areas. We are pursuing the development
of the next generation of CNS therapies with high medical impact to address this critical and growing unmet need. Our dual development
strategy is designed to optimize the outcome of our clinical programs by developing new chemical entities from known molecules with strong
scientific rationale, and also by re-defining previously approved molecules with well-established tolerability and safety profiles, as
determined by applicable regulatory agencies. We believe that our streamlined clinical development approach has the potential to advance
our product candidates rapidly through early-stage clinical trials, while carrying an overall lower development risk. A lower development
risk, we believe, exists with respect to the development of our lead product candidate, Quilience, and follow-on product candidate, Nolazol,
due to their use of mazindol as the active ingredient, which was previously approved and marketed in the United States, Japan and Europe
to manage exogenous obesity (obesity caused by overeating).

Agreement and Plan of Merger with Kadimastem

On November 4, 2024, the Company, NLS Pharmaceutics
(Israel) Ltd., an Israeli company and a wholly owned subsidiary of the Company, or the Merger Sub, and Kadimastem Ltd. an Israeli publicly
traded company limited by shares (TASE: KDST), or Kadimastem, entered into an Agreement and Plan of Merger, or the Merger Agreement, pursuant
to which (i) Merger Sub will merge with and into Kadimastem, with Kadimastem as the surviving company, or the Merger, and (ii) at the
effective time of the Merger, or the Effective Time, each issued and outstanding ordinary share of Kadimastem, no par value, each a Kadimastem
Ordinary Share, will be exchanged for and automatically converted into the right to receive from the Company that certain number of fully
paid and nonassessable Common Shares as calculated in accordance with the terms of the Merger Agreement, or the Exchange Ratio. The initial
Exchange Ratio is estimated to result in Kadimastem shareholders holding approximately 85% of the issued and outstanding Common Shares,
subject to certain adjustments as of the closing of the Merger, or the Closing, including as a result of estimated closing cash of NLS
and Kad