```

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                             ---------------------

                                    FORM 10-Q

                             ---------------------

(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE
     ACT OF 1934

                 For the nine month period ended March 31, 2009

                                       OR

[_]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
     EXCHANGE ACT OF 1934

                        For the transition period from to

                        Commission File Number: 000-17788

                              NEXGEN BIOFUELS LTD.
            (EXACT NAME OF REGISTRANTS AS SPECIFIED IN ITS CHARTERS)

                ISRAEL                                        N/A
    (STATE OR OTHER JURISDICTION OF                    (I.R.S. EMPLOYER
    INCORPORATION OR ORGANIZATION)                    IDENTIFICATION NO.)

   2533 WINDGUARD CIRCLE, SUITE 102                          33544
        WESLEY CHAPEL, FLORIDA
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICE)                   (ZIP CODE)

                                 (813) 929-4802
              (REGISTRANTS' TELEPHONE NUMBER, INCLUDING AREA CODE)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                               Yes [X]     No [_]

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of "large accelerated filer," "accelerated filer' and "smaller
reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

                Large accelerated filer [_]     Accelerated filer [_]

                Non-accelerated filer [_]       Smaller reporting company [X]

     Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act).

                               Yes [_]     No [X]

Indicate the number of shares outstanding of each class of Ordinary Shares, as
of the latest practicable date

               CLASS                      OUTSTANDING AS OF MAY 20, 2009
-----------------------------------     -----------------------------------
Ordinary Shares, NIS 0.04 Par Value              42,730,998 Shares
```

```

                              NEXGEN BIOFUELS LTD.
                                    FORM 10-Q

                                QUARTERLY REPORT

                                TABLE OF CONTENTS

          PART I

Item 1.   Financial Statements
          Consolidated Balance Sheets - March 31, 2009 (unaudited) and
          December 31, 2008 (audited)                                          3
          Consolidated Statements of Operations (Unaudited) -
          Three-month periods ended March 31, 2009 (unaudited) and
          2008 (unaudited), and from August 10, 2006 (inception) to
          March 30, 2009 (unaudited)                                           5
          Consolidated Statements of Cash Flows (Unaudited) - For the
          Three-month periods ended March 31, 2009 and 2008 and from
          August 10, 2006 (inception) to March 31, 2009 (unaudited)            6
          Notes to Unaudited Consolidated Financial Statements                 7

Item 2.   Management's Discussion and Analysis of Financial Condition
          and Results of Operations                                           14

Item 3.   Controls and Procedures                                             16

          PART II

Item 1.   Legal Proceedings                                                   17

Item 2.   Unregistered Sales of Equity Securities and Use of Proceeds         17

Item 3.   Default Upon Senior Securities                                      17

Item 4.   Submission of Matters to a Vote of Security Holders                 17

Item 5.   Other Information                                                   17

Item 6.   Exhibits                                                            17

                                       2
```

```

NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED BALANCE SHEETS
--------------------------------------------------------------------------------
U.S. DOLLARS IN THOUSANDS

                                             MARCH 31      DECEMBER 31
                                             2 0 0 9        2 0 0 8
                                            ----------     ----------
                                             UNAUDITED      AUDITED
                                            ----------     ----------

ASSETS

CURRENT ASSETS
   Cash and cash equivalents                         2              4
                                            ----------     ----------

LONG-TERM INVESTMENTS
   Investments in land purchase options             21             84
                                            ----------     ----------

PROPERTY AND EQUIPMENT, NET                          5              5
                                            ----------     ----------

   Total Assets                                     28             93
                                            ==========     ==========

          The accompanying notes to these financial statements are an
                             integral partthereof.

                                       3
```

```

NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED BALANCE SHEETS
--------------------------------------------------------------------------------
U.S. DOLLARS IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA

                                                                               MARCH 31      DECEMBER 31
                                                                               2 0 0 9         2 0 0 8
                                                                              ----------      ----------
                                                                              UNAUDITED        AUDITED
                                                                              ----------      ----------

LIABILITIES AND SHAREHOLDERS' DEFICIT

CURRENT LIABILITIES
Line of credits from related parties                                                 898             807
   Trade payables                                                                    222             217
   Other accounts payables                                                            12              13
                                                                              ----------      ----------
    Total current liabilities                                                      1,132           1,037
                                                                              ----------      ----------

SHAREHOLDERS' DEFICIT
Share capital
   Ordinary shares NIS 0.04 par value -Authorized 1,900,000,000 shares as
     of March 31, 2009 and December 31, 2008;
   Issued and outstanding: 42,730,998 shares as of March 31, 2009 and
     December 31, 2008                                                               445             445
   Additional paid-in capital                                                      2,665           2,665
   Accumulated deficit                                                            (4,214)         (4,054)
                                                                              ----------      ----------
    Total shareholders' deficit                                                   (1,104)           (944)
                                                                              ----------      ----------

   Total liabilities and shareholders' deficit                                        28              93
                                                                              ==========      ==========

           The accompanying notes to these financial statements are an
                             integral part thereof.

                May 20, 2009
--------------------------------------------         ---------------------------
Date of Approval of the Financial Statements                   Director

                                       4
```

```

NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENTS OF OPERATIONS
--------------------------------------------------------------------------------
U.S. DOLLARS IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA

                                                                                                 AUGUST 10, 2006
                                                                                                    (DATE OF
                                                                         THREE MONTHS ENDED         INCEPTION)
                                                                               MARCH 31,           TO MARCH 31,
                                                                         2009           2008         2 0 0 9
                                                                      ----------     ----------     ----------
                                                                               UNAUDITED            UNAUDITED
                                                                      -------------------------     ----------

EXPENSES:
Legal and professional                                                        11            223          1,231
Salaries expense                                                              83            156          1,189
Travel expense                                                                 3             71            393
Loss from expiration of land purchase option and futures trading             -.-            -.-            231
Compensation on shares issuance and options                                  -.-            475            621
Other expenses                                                               -.-             73            406
                                                                      ----------     ----------     ----------

Net loss from operations                                                      97            998          4,071

Interest expense                                                             -.-              3             84
Capital loss                                                                  63            -.-             59
                                                                      ----------     ----------     ----------

NET LOSS                                                                     160          1,001          4,214
                                                                      ----------     ----------     ----------

  Basic and diluted loss per share                                         0.004           0.02           0.12
                                                                      ==========     ==========     ==========

Weighted average number of shares used in computing basic and
diluted loss per share attributed to Ordinary shareholders            42,730,998     42,720,998     35,639,733
                                                                      ==========     ==========     ==========

        The accompanying notes are an integral part of the consolidated
                             financial statements.

                                       5
```

```

NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENTS OF CASH FLOWS
--------------------------------------------------------------------------------
U.S. DOLLARS IN THOUSANDS

                                                                                AUGUST 10, 2006
                                                                               (DATE OF INCEPTION)
                                                     THREE MONTHS ENDED                TO
                                              MARCH 31, 2009   MARCH 31, 2008     MARCH 31,2009
                                               ------------     ------------      ------------
                                                         UNAUDITED                  UNAUDITED
                                               -----------------------------      ------------

OPERATING ACTIVITIES
 Net loss                                              (160)          (1,001)           (4,214)
 Adjustments to reconcile net loss to net
   cash used in operating activities:
 Depreciation expenses                                  -.-              -.-                 1
 Compensation related to share and option
   issuance to employees                                -.-              475               577
 Expiration of land purchase option and
   futures trading                                       63              -.-               219
 Issuance of shares                                     -.-              -.-               187
 Increase (decrease) in other receivables               -.-              (28)                5
 Increase (decrease) in trade payables                    5             (153)              326
 Increase (decrease)  in other accounts
   payables                                              (1)              43               458
                                               ------------     ------------      ------------

 Net cash used in operating activities                  (93)            (664)           (2,441)
                                               ------------     ------------      ------------

INVESTING ACTIVITIES
 Purchase of computer equipment                         -.-              -.-                (4)
 Cash used in connection with acquisition               -.-              -.-              (280)
 Repayment of Gamida For Life B.V. debt                 -.-              386               397
 Repayment of loan to Gamidor Diagnostics               -.-             (230)             (230)
 Investments in land purchase options and
   futures trading                                      -.-              -.-              (193)
                                               ------------     ------------      ------------

 Net cash provided by (used in) investing
   activities                                           -.-              156              (310)
                                               ------------     ------------      ------------

FINANCING ACTIVITIES
 Net proceeds from line of credit from
   related party                                         91               82             2,419
 Repayment of short term bank credit                    -.-              (23)              (39)
 Purchase of treasury shares                            -.-              -.-               (68)
 Proceeds from issuance of shares                       -.-              455               441
                                               ------------     ------------      ------------

 Net cash provided by financing activities               91              514             2,753
                                               ------------     ------------      ------------

 NET INCREASE (DECREASE) IN CASH                         (2)               6                 2
 CASH AT BEGINNING OF PERIOD                              4                1               -.-
                                               ------------     ------------      ------------

 CASH AT END OF PERIOD                                    2                7                 2
                                               ============     ============      ============

        The accompanying notes are an integral part of the consolidated
                             financial statements.

                                       6
```

```

NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
U.S. DOLLARS

NOTE 1:- ORGANIZATION AND BASIS OF PRESENTATION

     a.   NexGen Biofuels Ltd. (formally: Healthcare Technologies Ltd.) and its
          subsidiaries (the "Company" or "NexGen"), is a development stage
          company that is currently seeking to develop and/or acquire blending
          terminal facilities and, ethanol and bio-diesel plants in the United
          States.

          NexGen Biofuels Ltd. was established as an Israeli corporation. Prior
          to the closing of the Purchase Agreement on December 31, 2007, the
          Company's business was in the field of diagnostic and biotech. In
          accordance with the Purchase Agreement, dated as of January 16, 2007,
          as amended (the "Purchase Agreement"), and consummated on December 31,
          2007, by and among, the Company, NexGen Biofuels, Inc., ("NexGen
          Bio"), MAC Bioventures Inc., ("MAC"), the parent company of NexGen
          Bio, and Gamida for Life B.V., ("Gamida"), the parent company of
          NexGen, the Company completed a Plan of Arrangement (the "Plan") as
          following:

          1.   The Company transferred substantially all of its existing assets
               and liabilities to Gamida, in consideration for 4,700,000 shares
               of the Company held by Gamida.

          2.   NexGen Bio transferred its principal assets (the "NexGen Assets")
               in the ethanol and biodiesel fuel industry consisting of options
               to purchase five Greenfield sites in the United States and
               permitting for 100 million gallons of annual ethanol or
               bio-diesel production capacity per site to NexGen 2007, Inc
               ("NewCo"), a wholly-owned subsidiary of the Company;

          3.   The Company issued to MAC and MAC's designees an aggregate of
               38,280,000 ordinary shares, representing the $58 million
               appraised value of the NexGen Assets divided by $1.50 (the agreed
               upon value of NexGen share) less 1%; In addition, the Company
               issued 386,666 ordinary shares to one of its directors.

          The Plan was subject to shareholders approval which was granted on
          December 4, 2007.

          Prior to the Plan, the Company had no substantial operations as it
          transferred all of its existing assets to Gamida. Therefore, the
          financial statements and accompanying notes represent the historical
          results of NexGen Bio, unless otherwise stated.

          On January 28, 2008, the Company changed its name from Healthcare
          Technologies Ltd. to NexGen Biofuels Ltd.

                                       7
```

```

NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
U.S. DOLLARS

NOTE 1:- ORGANIZATION AND BASIS OF PRESENTATION (CONT.)

     b.   Development Stage Enterprise

          The Company has been in the development stage since its formation on
          August 10, 2006. It has primarily been engaged in the development of
          blending terminals and ethanol/biodiesel plants while raising capital
          to carry out its business plan. The Company expects to continue to
          incur significant operating losses and to generate negative cash flow
          from operating activities while it develops projects, its customer
          base and establishes itself in the marketplace. The Company's ability
          to eliminate operating losses and to generate positive cash flow from
          operations in the future will depend upon a variety of factors, many
          of which the Company may be unable to control. If the Company is
          unable to implement its business plan successfully, it may not be able
          to eliminate operating losses, generate positive cash flow, or achieve
          or sustain profitability, which would materially adversely affect its
          business, operations, and financial results, as well as its ability to
          make payments on its debt obligations.

     c.   Going Concern

          The Company incurred a net loss of $ 4,214 thousand for the period
          August 10, 2006 (date of inception) through March 31, 2009. As of
          March 31, 2009 the Company had $ 1,130 thousand of negative working
          capital, $ 1,104 thousand shareholders deficiency and $ 2 thousand of
          cash. The Company depends upon capital to be derived from future
          financial activities, such as subsequent offerings of its Ordinary
          Shares, or debt financing in order to operate and grow the business.
          There can be no assurance that the Company will be successful in
          raising such capital. The key factors that are not within the
          Company's control and that have a direct bearing on operating results
          include, but are not limited to, acceptance of the Company's business
          plan, the ability to raise capital in the future, the ability to
          expand its customer base, and the ability to hire key employees to
          grow the business. There may be other risks and circumstances that
          management may be unable to predict. In 2008, the credit and financial
          markets have experienced a period of unprecedented turmoil and
          upheaval characterized by the bankruptcy, failure, collapse or sale of
          various financial institutions, an unprecedented level of intervention
          from the United States federal government and other foreign
          governments and tighter availability of credit and financing. Although
          we have made substantial efforts to obtain capital funding, in the
          current global economy it is unlikely that such financing will be
          available to us in the near term. We intend to reevaluate the
          conditions in the credit and financial markets and the availability of
          capital during the first quarter of 2009, but if we continue to be
          unable to obtain additional financing, we will have to consider
          various alternatives concerning the future of the Company, including,
          among others, a change in our business plan, the possibility of
          terminating the Company's public reporting status and/or seeking a
          buyer for the Company's business.

          These conditions raise substantial doubt about the Company's ability
          to continue as a going concern. The accompanying consolidated
          financial statements do not include any adjustments relating to
          recoverability of assets and classification of liabilities that might
          be necessary should the Company be unable to continue as a going
          concern.

     d.   Basis of Presentation-Interim Financial Statements

          The accompanying unaudited interim consolidated financial statements
          and related notes have been prepared in accordance with accounting
          principles generally accepted in the United States of America for
          interim financial information and the instructions to Form 10-Q and
          Rule 10-01 of Regulation S-X. Accordingly, they do not include all of
          the information and footnotes required by generally accepted
          accounting principles for complete financial statements. Results for
          interim periods should not be considered indicative of results for a
          full year. These interim consolidated financial statements should be
          read in conjunction with the consolidated financial statements and
          related notes contained in the Company's Annual Report on Form 10-K
          for the year ended December 31, 2008. Except as disclosed in Note 1e
          below, the accounting policies used in preparing these consolidated
          financial statements are the same as those described in the
          consolidated financial statements in the Company's Annual Report on
          Form 10-K for the year ended December 31, 2008. Filed April 15, 2009.

                                       8
```

```

NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
U.S. DOLLARS

NOTE 1:- ORGANIZATION AND BASIS OF PRESENTATION (CONT.)

          In the opinion of management, all adjustments (consisting of normal
          recurring adjustments) considered necessary for a fair statement of
          the results for interim periods have been included. All significant
          intercompany accounts and transactions have been eliminated in
          consolidation.

          The preparation of financial statements in conformity with generally
          accepted accounting principles requires management to make estimates
          and assumptions that affect the amounts reported in the financial
          statements and accompanying notes. Actual results could differ from
          those estimates.

     e.   Impact of recently issued accounting standards:

          SFAS 157 - FAIR VALUE MEASUREMENT:

          In September 2006, the FASB issued SFAS No. 157, "Fair Value
          Measurements ("FAS 157"). This standard defines fair value,
          establishes a framework and gives guidance regarding the methods used
          for measuring fair value, and expands disclosures about fair value
          measurements. This standard is effective for financial statements
          issued for fiscal years beginning after November 15, 2007. In February
          2008, the FASB released a FASB Staff Position (FSP FAS 157-2-
          Effective Date of FASB Statement No. 157) which delays the effective
          date of SFAS No. 157 for all non-financial assets and non-financial
          liabilities, except those that are recognized or disclosed at fair
          value in the financial statements on a recurring basis (at least
          annually) to fiscal years beginning after November 15, 2008. The
          partial adoption of SFAS No. 157 on January 1, 2008, for financial
          assets and liabilities did not have a material impact on the Company's
          consolidated financial position or results of operations.

          SFAS 159- THE FAIR VALUE OPTION FOR FINANCIAL ASSETS AND LIABILITIES.

          In February 2007, the FASB issued SFAS No. 159, "The Fair Value Option
          for Financial Assets and Financial Liabilities - Including an
          amendment of FASB Statement No. 115," which provides a fair value
          option election that permits entities to irrevocably elect to measure
          certain financial assets and liabilities (exceptions are specifically
          identified in the Statement) at fair value as the initial and
          subsequent measurement attribute, with changes in fair value
          recognized in earnings as they occur. SFAS No. 159 permits the fair
          value option election on an instrument-by-instrument basis at initial
          recognition of an asset or liability or upon an event that gives rise
          to a new basis of accounting for that instrument. The adoption of SFAS
          No. 159 on January 1, 2008, for financial assets and liabilities did
          not have a material impact on the Company's consolidated financial
          position or results of operations.

                                       9
```

```

NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
U.S. DOLLARS

NOTE 1:- ORGANIZATION AND BASIS OF PRESENTATION (CONT.)

          SFAS NO. 141(REVISED 2007): BUSINESS COMBINATIONS ("SFAS NO. 141(R)")
          AND SFAS NO. 160: NONCONTROLLING INTERESTS IN CONSOLIDATED FINANCIAL
          STATEMENTS, AN AMENDMENT OF ARB NO. 51 ("SFAS NO. 160"):

          In December 2007, the FASB issued SFAS No. 141(R) and SFAS No. 160.
          SFAS No. 141(R) will significantly change how business acquisitions
          are accounted for at the acquisition date and in subsequent periods.
          The standard changes the accounting for the business combination at
          the acquisition date to a fair value based approach rather than the
          cost allocation approach currently used. Other differences include
          changes in the accounting for acquisition related costs, contingencies
          and income taxes. SFAS No. 160 changes the accounting and reporting
          for minority interests, which will be classified as a component of
          equity and will be referred to as noncontrolling interests.

          SFAS No. 141(R) and SFAS No. 160 will be effective for public
          companies for fiscal years beginning on or after December 15, 2008.
          SFAS No. 141(R) and SFAS No. 160 will be applied prospectively, except
          for the presentation and disclosure requirements in SFAS No. 160 for
          existing minority interests which will require retroactive adoption.
          Early adoption is prohibited. SFAS No. 141(R) and SFAS No. 160 are not
          applicable for the company.

          SFAS NO. 161 "DISCLOSURES ABOUT DERIVATIVE INSTRUMENTS AND HEDGING
          ACTIVITIES" ("SFAS NO. 161"):

          In March 2008, the FASB issued SFAS No. 161 "Disclosures about
          Derivative Instruments and Hedging Activities" ("SFAS No. 161"), which
          will require increased disclosures about an entity's strategies and
          objectives for using derivative instruments; the location and amounts
          of derivative instruments in an entity's financial statements; how
          derivative instruments and related hedged items are accounted for
          under SFAS No. 133, and how derivative instruments and related hedged
          items affect its financial position, financial performance, and cash
          flows. Certain disclosures will also be required with respect to
          derivative features that are credit risk-related. SFAS No. 161 is
          effective for the Company beginning on January 1, 2009 on a
          prospective basis. The adoption did not have an impact on the
          Company's results of operations or financial condition.

          FSP NO. FAS 142-3: DETERMINATION OF THE USEFUL LIFE OF INTANGIBLE
          ASSETS ("FSP NO. FAS 142-3"):

          In April 2008, the FASB issued FSP No. FAS 142-3, which amends the
          factors considered in developing renewal or extension assumptions used
          to determine the useful life of a recognized intangible asset under
          SFAS No. 142. FSP No. 142-3 requires a consistent approach between the
          useful life of a recognized intangible asset under SFAS No. 142 and
          the period of expected cash flows used to measure the fair value of an
          asset under SFAS No. 141(R).

          The FSP also requires enhanced disclosures when an intangible asset's
          expected future cash flows are affected by an entity's intent and/or
          ability to renew or extend the arrangement. FSP No. 142-3 is effective
          for financial statements issued for fiscal years beginning after
          December 15, 2008, January 1, 2009 for the Company, and is to be
          applied prospectively. Early adoption is prohibited. The Company does
          not believe the adoption will have an impact on the Company's
          financial condition, results of operations, or cash flows.

                                       10
```

```

NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
U.S. DOLLARS

NOTE 1:- ORGANIZATION AND BASIS OF PRESENTATION (CONT.)

          EITF 08-3: ACCOUNTING BY LESSEES FOR MAINTENANCE DEPOSITS ("EITF
          08-3"):

          In June 2008, the Emerging Issues Task Force ("EITF") issued EITF
          08-3, which clarifies how a lessee accounts for nonrefundable
          maintenance deposits. Under EITF 08-3, nonrefundable maintenance
          deposits will be recorded as a deposit asset and as reimbursable
          maintenance is performed by the lessee, the underlying maintenance is
          expensed or capitalized in accordance with the lessee's accounting
          policy. EITF 08-3 is effective for the Company beginning on January 1,
          2009. Early adoption is not permitted. The effect of adoption will be
          reflected as a change in accounting principle through a cumulative
          effect adjustment to the opening balance of retained earnings in the
          year of adoption. The adoption of EITF 08-3, did not have an impact on
          the Company's financial statements.

          FSP NO. 157-3: DETERMINING THE FAIR VALUE OF A FINANCIAL ASSET WHEN
          THE MARKET FOR THAT ASSET IS NOT ACTIVE ("FSP NO. 157-3"):

          In October 2008, the FASB issued FSP No. 157-3, which clarifies the
          application of SFAS No. 157 in a market that is not active and
          provides an example to illustrate key considerations in determining
          the fair value of a financial asset when the market for that financial
          asset is not active. The guidance emphasizes that determining fair
          value in an inactive market depends on the facts and circumstances and
          may require the use of significant judgments.

          FSP No. 157-3 is effective upon issuance, including prior periods for
          which financial statements have not been issued. The adoption of FSP
          No. 157-3 did not have an impact on the Company.

          FSP NO. FAS 132(R)-1: EMPLOYERS' DISCLOSURES ABOUT POSTRETIREMENT
          BENEFIT PLAN ASSETS ("FSP NO. FAS 132(R)-1"):

          In December 2008, the FASB issued FSP No. FAS 132(R)-1, which provides
          guidance regarding an employer's disclosures about plan assets of a
          defined benefit pension or other postretirement plan. The FSP is
          effective for fiscal years ending after December 15, 2009, or the year
          ending December 31, 2009 for the Company. The Company has reviewed FAS
          132 (R) and determined is not applicable for the Company.

          FAS 115-2 AND FAS 124-2 - RECOGNITION AND PRESENTATION OF
          OTHER-THAN-TEMPORARY IMPAIRMENTS:

          In April 2009, the FASB Issued FAS No. 115-2 and FAS No. 124-2,
          "Recognition and Presentation of Other-Than-Temporary Impairments".
          This FSP amends the other-than-temporary impairment guidance for debt
          securities to make the guidance more operational and to improve the
          presentation and disclosure of other-than-temporary impairments in the
          financial statements. The most significant change the FSP brings is a
          revision to the amount of other-than-temporary loss of a debt security
          recorded in earnings. FSP FAS 157-4 and FSP FAS 115-2/FAS 124-2 must
          be adopted at the same time.

          FSP FAS 115-2 and FAS 124-2 is effective for interim and annual
          reporting periods ending after June 15, 2009, and it will have no
          impact on the Company's financial statements.

                                       11
```

```

NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
U.S. DOLLARS

NOTE 1:- ORGANIZATION AND BASIS OF PRESENTATION (CONT.)

          FAS 157-4 - DETERMINING FAIR VALUE WHEN THE VOLUME AND LEVEL OF
          ACTIVITY FOR THE ASSET OR LIABILITY HAVE SIGNIFICANTLY DECREASED AND
          IDENTIFYING TRANSACTIONS THAT ARE NOT ORDERLY:

          In April 2009, the FASB Issued FAS No. 157-4, "Determining Fair Value
          When the Volume and Level of Activity for the Asset or Liability Have
          Significantly Decreased and Identifying Transactions That Are Not
          Orderly"

          This FASB Staff Position (FSP) provides additional guidance for
          estimating fair value in accordance with FASB Statement No. 157, FAIR
          VALUE MEASUREMENTS, when the volume and level of activity for the
          asset or liability have significantly decreased. This FSP also
          includes guidance on identifying circumstances that indicate a
          transaction is not orderly. FAS No. 157-4 is effective for interim
          reporting periods ending after June 15, 2009. The company believes
          that it will not have an impact on its financial statements.

NOTE 2 - COMMITMENTS AND CONTINGENT LIABILITIES

     OPTIONS

     a.   The Company granted on January 9, 2008, one of its executives 650,000
          options to purchase Ordinary shares of the Company under the ISO Plan
          (defined below). The Options have the following terms, among others:
          (i) a term of 5 years, subject to earlier expiration; (ii) an exercise
          price of $1.50 per share, and (iii) vesting and exercise rights in
          five annually equal installments of 130,000 shares each. The Company
          has accounted for this award in accordance with FAS123(R). The fair
          value of each option award is estimated on the date of grant using a
          Black-Scholes option pricing model. In June 2008, effective as of June
          1 2008, the employment agreement with the executive was terminated by
          mutual agreement. The total grant fair value recorded was $ 28
          thousand.

          According to the Purchase Agreement, the Company granted to Israel
          Amir 386,666 Ordinary Shares for his willingness to commit to serve as
          a director of the Company for a period of no less than two years after
          the Closing. The Company has accounted for this award in accordance
          with FAS123(R). The total grant date fair value was $ 352 thousand,
          reflecting the quoted market price of the Company's Ordinary shares as
          of the date of grant over the purchase price of $ 0 as compensation
          expense, ratably over the release two years period of the restricted
          shares. The agreement was terminated. The total grant fair value
          recorded was $176 thousand.

     b.   All directors of the Company, except one, have resigned. This
          situation does not meet the requirements of the Israeli Corporate law
          as to minimal number of directors required by a public company.

NOTE 3 - RELATED PARTY TRANSACTIONS

     During the three months ended March 31, 2009, the Company incurred related
     party expenses as follows: salary expenses in the amount of $83 thousand.

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NEXGEN BIOFUELS AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
--------------------------------------------------------------------------------
U.S. DOLLARS

NOTE 4 - OTHER SIGNIFICATN CURRENT PERIOD EVENTS

     On March 29, 2009, the Company announced that it signed a non-binding
     Letter of Intent with World Venture Management, Inc., a Nevada based
     company (hereinafter: "WVM") and Mac Bioventures, Inc. The transaction
     includes (i) the transfer to NexGen of WVM's assets relating to its real
     estate acquisitions and asset management enterprises, such as
     hotel/casinos, wineries and vineyards, refineries, office buildings and
     apartment complexes, shopping malls and other commercial buildings, in
     addition to the management of certain assets such as gemstones, gold and
     diamonds and in-ground assets such as coal and oil, gas and natural gas, in
     the United states in consideration for a controlling stake in NexGen and
     (ii) the purchase of NexGen's holdings in its subsidiaries by Mac
     Bioventures in consideration for a part of the debt it is assuming in
     NexGen.

     The Letter of Intent further contemplates that the number of shares up to
     65 million to be issued in consideration for WVM's assets shall be based on
     the valuation of the assets to be provided by a recognized valuation firm.

     Closing of the transaction is subject to the negotiation and execution of
     definitive agreements, the completion of due diligence, the receipt of the
     necessary corporate, regulatory and third party approvals, including
     NexGen's shareholders and the approval of an Israeli District Court. No
     assurance can be given that a definitive agreement will be signed or that
     the transaction will close.

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR RESULTS
OF OPERATIONS

FORWARD LOOKING STATEMENTS

This Quarterly Report on Form 10-Q (the "Report") of NexGen Biofuels Ltd., an
Israeli corporation (formerly known as Healthcare Technologies Ltd.) (the
"Company," "NexGen," "we," "us" and "our"), contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. This Report
includes statements regarding our plans, goals, strategies, intent, beliefs or
current expectations. These statements are expressed in good faith and based
upon a reasonable basis when made, but there can be no assurance that these
expectations will be achieved or accomplished. These forward looking statements
can be identified by the use of terms and phrases such as "believe," "plan,"
"intend," "anticipate," "target," "estimate," "expect," and the like, and/or
future-tense or conditional constructions ("will," "may," "could," "should,"
etc.). Items contemplating or making assumptions about, actual or potential
future sales, market size, collaborations, and trends or operating results also
constitute such forward-looking statements.

Although forward-looking statements in this report reflect the good faith
judgment of management, forward-looking statements are inherently subject to
known and unknown risks, business, economic and other risks and uncertainties
that may cause actual results to be materially different from those discussed in
these forward-looking statements. Readers are urged not to place undue reliance
on these forward-looking statements, which speak only as of the date of this
report. We assume no obligation to update any forward-looking statements in
order to reflect any event or circumstance that may arise after the date of this
report, other than as may be required by applicable law or regulation. Readers
are urged to carefully review and consider the various disclosures made by us in
our reports filed with the Securities and Exchange Commission ("SEC") which
attempt to advise interested parties of the risks and factors that may affect
our business, financial condition, results of operation and cash flows,
including the in the field of ethanol and bio-diesel fuel production under "Risk
Factors" in Item 1A of our Annual Report on Form 10K for the fiscal year ended
December 31, 2007. If one or more of these risks or uncertainties materialize,
or if the underlying assumptions prove incorrect, our actual results may vary
materially from those expected or projected.

OVERVIEW

NexGen is currently in the process of raising capital to develop, construct,
and/or acquire, own, and operate blending terminal facilities in the United
States.

NexGen is pursuing a vertically integrated strategy involving the blending of
ethanol and biodiesel through developing/acquiring of blending terminal and
production facilities. The Company plans to build the blending terminal
following the receipt of phase-I financing.

In order to be responsive to changing market conditions in the ethanol and
bio-diesel industries, and in the capital markets, we intend to postpone our
plans to construct or and/or acquire ethanol and bio-diesel plants in favor of
developing a blending terminal first. Two non binding letters of intent
("LOI's") for purchase of majority interests in two separate ethanol production
facilities expired during May 2008 and have not been renewed. The Company
intends to renegotiate those LOI's and/or consider other opportunities to
acquire or construct operating plants as soon as market conditions improve to
the point that conditions become favorable for such developments.

In NexGen's view, controlling assets at both ends of the ethanol and biodiesel
value chains offer a highly effective means for buffering the operating and
financial impacts caused by ethanol and biodiesel price volatility resulting
from feedstock and production output supply/demand imbalances.

                                       14
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GENERAL

In accordance with the Purchase Agreement, on December 31, 2007, the Company
completed the Plan pursuant to which the Company transferred substantially all
of its existing business and assets in the field of biotechnology and medical
devices to Gamida For Life B.V. and acquired NexGen Bio's principal assets in
the field of ethanol and bio-diesel fuel production.

The Plan was treated as a reverse merger of the Company for financial accounting
purposes. Accordingly, the historical financial statements of the Company before
the Plan will be replaced with the historical financial statements of NexGen Bio
before the Plan in all future filings that the Company makes with the SEC,
including this Report.

RESULTS OF OPERATIONS

COMPARISON OF THE THREE MONTH PERIODS ENDED MARCH 31, 2009 AND 2008(IN
THOUSANDS)

NexGen is a development stage company which has operational cost related to our
efforts to plan, develop, construct and/or acquire biofuels business. These
costs include legal and professional costs, salaries, travel and other.

The Legal and professional cost amounted to $ 11 for the three month period
ended March 31, 2009 compared to $ 223 for the three months ended March 31,
2008.

The salaries for the three month period ended March 31, 2009 amounted to $ 83
compared to $ 223 for the three months ended March 31, 2008.

The travel expenses for the three month period ended March 31, 2009 amounted to
$ 3compared to $ 71 for the three months ended March 31, 2008. Travel costs are
for travel in the U.S. and out of the U.S. in connection with our efforts to
raise funds during 2008.

During the three month period ended March 31, 2009, we had $ 0 in compensation
expenses related to the issuance of shares and option shares to employees and a
director, as compared to $ 475 compensation expenses for the comparable period
of 2008.

Net loss for three month period ended March 31, 2009 amounted to $ 160 and $
1,001 for the three months ended March 31, 2008.

                                       15
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LIQUIDITY AND CAPITAL RESOURCES (IN THOUSANDS)

The Company's working capital was a negative of $ 158 at March 31, 2008,
compared to a negative of $ 398 at March 31, 2008. Historically, our cash needs
have been satisfied primarily through proceeds from private placements of our
equity securities and related party advances. We expect to continue to be
required to raise capital in the future, but cannot guarantee that such
financing activities will be sufficient to fund our current and future projects
and our ability to meet our cash and working capital needs.

Net cash used in operating activities amounted to $ 93 for the three month
period ended March 31, 2009 compared to $ 664 net cash used in operating
activities for the three months ended March 31, 2008.

Cash provided by investing activities amounted to $ 0 for the three month period
ended March 31, 2009 compared to $ 156 used in investing activities in the three
months ended March 31, 2008.

Cash provided from financing activities amounted to $ 91 for the three month
period ended March 31, 2009 compared to $ 514 for the three months ended March
31, 2008. Financing activities for both periods represent net cash received from
the Company's controlling shareholder for the development of NexGen's business.
Additionally, during the first quarter of fiscal 2008 we raised approximately
$225 through cash generated by the sale of stock via a private offering.

We have an unsecured line of credit in the amount of $500 available through its
controlling shareholder. We believe these funds will be sufficient to fund our
current operations until we obtain the third-party financing to fund the first
phase of our business plan. However, additional funding may not be available
when required or it may not be available on favorable terms. Without adequate
funds, we may need to significantly reduce or refocus our plan of operations or
obtain funds through arrangements that may require us to relinquish rights to
certain or potential markets, either of which could have a material adverse
effect on our business, financial condition and results of operations. Failure
to secure additional financing in a timely manner and on favorable terms when
needed will have a material adverse effect on the Company's ability to continue
as a going concern, which contemplates the realization of assets and
satisfaction of liabilities in the normal course of business.

As of September 30, 2008, the Company was not subject to any off balance
agreements, other than the office lease agreement disclosed under Item 2
"Description of Property" in our Form 10K.

ITEM 3. CONTROLS AND PROCEDURES

     (a)  Disclosure Controls and Procedures

          The Company performed an evaluation of the effectiveness of its
          disclosure controls and procedures (as defined in RULES 13A-15(E) AND
          15D-15(E) OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED) AS OF
          THE END OF THE PERIOD COVERED BY THIS REPORT. BASED ON THE COMPANY'S
          EVALUATION, THE COMPANY'S MANAGEMENT, INCLUDING THE CHIEF EXECUTive
          officer, has concluded that the Company's disclosure controls and
          procedures as of the end of the period covered by this Report were
          effective.

     (b)  Change in Internal Control over Financial Reporting. No change in the
          Company's internal control over financial reporting occurred during
          the Company's most recent fiscal quarter that has materially affected,
          or is reasonably likely to materially affect the Company's internal
          control over financial reporting.

     (c)  Management believes that a controls system, no matter how well
          designed and operated, cannot provide absolute assurance that the
          objectives of the controls system are met, and no evaluation of
          controls can provide absolute assurance that all control issues and
          instances of fraud, if any, within a company have been detected.

                                       16
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                           PART II - OTHER INFORMATION

ITEM 1 LEGAL PROCEEDINGS

N/A

ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

     On January 9, 2008, the Company sold 150,000 ordinary shares for an
aggregate purchase price of $225,000 to an accredited investor in a private
placement transaction under Section 4(2) of the Securities Act.

ITEM 3 DEFAULTS UPON SENIOR SECURITIES

N/A

ITEM 4 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

N/A

ITEM 5 OTHER INFORMATION

On January 28, 2008, the Company changed its name from Healthcare Technologies
Ltd. to NexGen Biofuels Ltd.

As of March 2008, our ordinary shares are quoted in the OTC Bulletin Board
("OTC-BB") under the symbol "NXGNF". Prior to February 28, 2008, our ordinary
shares were quoted on the NASDAQ Capital Market under the symbol HCTL (through
February 21, 2008) and thereafter under the symbol NXGN.

In accordance with an agreement dated as of June 17, 2008, effective as of June
1, 2008, the employment of our Chief Financial Officer who was based in Israel
was terminated by mutual agreement of the Company and the executive. The Company
has begun a search in the United States for a replacement CFO.

ITEM 6 EXHIBITS

Exhibit Number, Name and/or Identification of Exhibit

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                                INDEX TO EXHIBITS

EXHIBIT               NCORP BY
NUMBERR               IEF. TO EXH.               DESCRIPTION
-----------           --------------------       -----------

(D)   EXHIBITS

 EXHIBIT NO.          INCORP. BY REFERENCE       DESCRIPTION
 -----------          --------------------       -----------

 3.1                         1.1(1)              Memorandum of Association of the Registrant, as amended

 3.2                         1.2(2)              Articles of Association, restated to include all amendments in
                                                 effect as of December 31, 2006

 3.3                         1.3(3)              Amendment to Articles of Association

 10.1                        4.34(2)             Purchase Agreement between Healthcare  Technologies Ltd., Gamida For
                                                 Life B.V., MAC Bioventures Inc. and NexGen Biofuels Inc.

 10.2                        4.35(3)             Amendment No. 1 to Purchase Agreement.

 14                           11(2)              Code of Ethics

 21                            (4)               List of Subsidiaries

 31.1                           *                Certification of  Chief Executive Officer required by Rule
                                                 13a-14(a) under the Exchange Act

 32.1                           *                Certification of Chief Executive Officer pursuant to 18 U.S.C.
                                                 Section 1350, as adopted pursuant to Section 906 of Sarbanes-Oxley
                                                 Act of 2002

 99.1                        4.33(5)             Audit Committee Charter

 99.2                        4.36(6)             AAA Valuation dated May 4, 2007 and letter dated July 13, 2007.

 99.3                        4.37(6)             Valuation from David Boas Business Consultant Ltd., dated January
                                                 20, 2007.

--------------------

* Filed herewith.

                    (1)  Incorporated by reference to the Registrant's Annual
                         Report on Form 20-F for the Fiscal year ended December
                         31, 1997.

                    (2)  Incorporated by reference to the Registrant's Annual
                         Report on Form 20-F for the Fiscal year ended December
                         31, 2006.

                    (3)  Incorporated by reference to the Registrant's Current
                         Report on Form 8-K dated December 31, 2007.

                    (4)  Incorporated by reference to the Consolidated Financial
                         Statements that are filed as a part of this Form 10-K.

                    (5)  Incorporated by reference to the Registrant's Annual
                         Report on Form 20-F for the Fiscal year ended December
                         31, 2004.

                    (6)  Incorporated by reference to the Registrant's Proxy
                         Statement filed as an exhibit to the Registrant's Form
                         6-K dated August 2007, filed on August 16, 2007.

                                       18
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                                    SIGNATURE

In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized:

                                     NEXGEN BIOFUELS LTD.

Dated: May 20, 2009
                                     By: /s/ J. Ram Ajjarapu
                                     -----------------------
                                     J. Ram Ajjarapu
                                     Chief Executive Officer

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