NLS Pharmaceutics and Kadimastem Announces Up to $3 Million Equity Financing and $25 Million Equity
Summary
"We are pleased to have secured this capital on favorable terms, which reflects investor confidence in our vision and the transformative potential of our planned merger with Kadimastem," said Alex Zwyer, CEO of NLS. "We believe that with these financial resources in place, we are well-positioned to move forward with completing the transaction and creating a leading company in the field of regenerative medicine and CNS disorders. IsletRx is comprised of functional pancreatic islet cells producing and releasing insulin and glucagon, intended to treat and potentially cure patients with insulin-dependent diabetes. Kadimastem is traded on the Tel Aviv Stock Exchange (TASE: KDST).This press release contains expressed or implied forward-looking statements pursuant to U.S. Federal securities laws. Information about the directors and executive officers of NLS, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in NLSs Annual Report on Form 20-F for the fiscal year ended December 31, 2023, which was filed with the SEC on May 15, 2024.