Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 396

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 396
---
 the Company received correspondence from Université de Lausanne, initiating the official “audience de conciliation” procedure, overseen by the ordinary civil court in Lausanne. The hearing was scheduled for October 9, 2024, at the Tribunal d’arrondissement de Lausanne. The complaint pertains to an unpaid invoice for research services amounting to $110,179, plus interest at a rate of 5%. At the hearing on October 9, 2024, Université de Lausanne was not open to discussing a potential settlement. The Company asserts that the services provided did not meet the required standard of care and intends to defend its position. On May 9, 2025, the Company filed a statement of defense and asserted a counterclaim in CHF 30,000 plus compensatory interests at a rate of 5% per annum since June 29, 2022. Exchange Controls There are no Swiss governmental laws, decrees or regulations that restrict, in a manner material to NLS, the export or import of capital, including any foreign exchange controls, or that generally affect the remittance of dividends or other payments to non -residentsor non -citizensof Switzerland who hold NLS Common Shares. 202 KADIMASTEM BUSINESS Kadimastem is a clinical -stagepharmaceutical company focused on developing and manufacturing “off -the -shelf”, allogeneic, proprietary cell products based on its technology platform for the expansion and differentiation of hESCs into functional cells. Kadimastem’s vision is to: •Replace, restore and repair the functionality of diseased and malfunctioning cells in various degenerative diseases by transplantation of healthy and functional cells; and •Commercialize its proprietary cell lines optimized for both the cure of diabetes and the treatment of ALS, and other neurodegenerative diseases. Kadimastem is primarily developing two products: 1.AstroRx ®, Kadimastem’s lead product, which is an off -the -shelfcryopreserved cell therapy product in clinical development for the treatment for ALS and in pre -clinicalstudies for other neurodegenerative indications. AstroRx ®is comprised of fully differentiated astrocytes, which are mainly cells that support the CNS. 2.IsletRx is Kadimastem’s treatment for diabetes. IsletRx is comprised of functional, insulin and glucagon producing and releasing pancreatic islet cells, intended to treat and potentially cure patients with Type 1