NLS Pharmacy & Kadimastem Announce Merger to Boost Cell Therapy Programs
Deal News | Nov 06, 2024 | EIN
NLS Pharmaceutics Ltd., a biopharmaceutical company, and Kadimastem Ltd., a clinical-stage cell therapy company, have entered into a definitive merger agreement to collaborate on advancing their complementary technological platforms. The merger will focus on NLS's Dual Orexin Agonist platform (DOXA) and Kadimastem's allogenic cell therapy aimed at treating neurodegenerative diseases, chiefly ALS, and diabetes. Upon the expected closing of this merger in January 2025, NLS will issue shares to Kadimastem's stakeholders, who will hold an approximate 80% interest in the new entity, while NLS stakeholders will possess the remaining 20%. The companies plan to divest NLS's legacy assets post-merger, ensuring returns to its shareholders. Both firms are optimistic about leveraging the merger to expedite clinical trials of their products, aiming for enhanced market presence and shareholder value, particularly through a new Nasdaq listing.
Sectors
- Biopharmaceuticals
- Healthcare
Geography
- United States – NLS intends to list on Nasdaq, indicating a focus on U.S. capital markets and clinical trials, especially with upcoming phase IIa studies in the country.
- Israel – Kadimastem is listed on the Tel Aviv Stock Exchange, representing its base of operations and strategic focus.
- Switzerland – NLS Pharmaceutics Ltd. is registered in Switzerland, suggesting part of its operations or management structure is based there.
Industry
- Biopharmaceuticals – The article focuses on NLS Pharmaceutics, which is deeply involved in the development of pharmaceutical products, and Kadimastem, which specializes in cell therapy for chronic diseases.
- Healthcare – Both companies are engaged in advancing medical treatments, specifically targeting neurodegenerative diseases and diabetes, aligning them under the general healthcare industry.
Financials
- 80% – The estimated share of the new entity post-merger that Kadimastem's stakeholders will own.
- 20% – The estimated share of the new entity post-merger that NLS's stakeholders will own.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NLS Pharmaceutics Ltd. | Merging Company | Company | A biopharmaceutical company focused on developing its Dual Orexin Agonist platform for neurodegenerative treatments. |
| Kadimastem Ltd. | Merging Company | Company | An Israeli clinical-stage cell therapy company developing treatments for neurodegenerative diseases and diabetes. |
| Nasdaq | Approval Authority | Company | The stock exchange where the merged entity intends to list, requiring customary closing approvals. |
| Tel Aviv Stock Exchange | Current Listing | Company | The stock exchange where Kadimastem is currently listed. |
| Alex Zwyer | CEO | Person | The Chief Executive Officer of NLS Pharmaceutics. |
| Ronen Twito | Executive Chairman & President | Person | The Executive Chairman and President of Kadimastem. |
| Michel Revel | Chief Scientific Officer | Person | Kadimastem's Chief Scientific Officer, involved in cell therapy innovations. |