NLS Pharmaceutics Ltd, a Swiss clinical-stage biopharmaceutical company focused on the discovery and development of innovative therapies for rare and complex central nervous system disorders, and Kadimastem Ltd, a clinical-stage cell therapy company developing and manufacturing “off-the-shelf” allogeneic cell products for the treatment of neurodegenerative diseases and potential cure for diabetes, are pleased to announce that in a special general meeting of shareholders held yesterday, Kadimastem’s shareholders approved the merger with NLS (the “Merger”). This key milestone brings NLS and Kadimastem one step closer to creating a combined Nasdaq-traded biotechnology company with a robust portfolio of advanced therapies for neurodegenerative diseases and diabetes.
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NLS is also planning to convene a shareholder meeting for final approval of the Merger. The collaborative effort between NLS and Kadimastem underscores the companies’ commitment to advance innovative solutions that address unmet medical needs in the biopharmaceutical sector.
Ronen Twito, Executive Chairman and Chief Executive Officer of Kadimastem, stated, “We are happy that our shareholders have approved this significant Merger with NLS. We believe that this approval shows the shareholders’ appreciation of the anticipated value creation from the Merger to leverage NLS’s and Kadimastem’s combined strengths in biotechnology. We look forward to completing the Merger and unlocking new opportunities for growth and innovation.”
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Alex Zwyer, Chief Executive Officer of NLS, commented, “Receiving approval from Kadimastem’s shareholders is a significant step forward in the Merger process. We look forward to the potential benefits of bringing our two companies together and are committed to working collaboratively to advance innovative solutions in biotechnology. We aim to convene our shareholders meeting in the coming weeks to support a smooth transition toward this partnership.”
As the Merger process progresses, both companies remain focused on aligning their efforts to become a leading force in developing therapies that address critical health challenges.
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Source – prnewswire
