NLS Pharmaceutics Ltd. (NASDAQ: NLSP), 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, announced that in a special general meeting of shareholders held yesterday, Kadimastem's shareholders approved the merger with NLS. 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.
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.
NLS is a global development-stage biopharmaceutical company, working with a network of world-class partners and internationally recognized scientists, focused on the discovery and development of innovative therapies for patients with rare and complex central nervous system disorders who have unmet medical needs.
NLSP shares began Friday up 72 cents, or 36.6%, to $2.71.
