Kadimastem Ltd.

www.kadimastem.com

Now NewcelX

High-Tech Company

Merged with NLS Pharmaceutics

TECH VERTICALS

ALS, Biologicals, Biotechnology, Life Sciences, MedTech, Stem Cells

General Data

Sector	Biomed
Company Stage:	Initial Revenues
Established	2009
Number of Employees	50
Reg. Number:	abCDe

DESCRIPTION

Kadimastem is a bio-pharmaceutical company that develops industrial regenerative medicine therapies based on differentiated cells derived from Human Embryonic Stem Cells (hESCs) to treat neuro-degenerative diseases such as ALS and Diabetes. Kadimastem’s visionary positioning and founding principles stem from the success of Professor Michel Revel’s previous invention of a blockbuster drug.

The company is developing revolutionary regenerative therapies based on stem cells, moving away from the traditional curative therapies. The technology has been developed as a platform enabling the manufacturing of islet-like endocrine cells and glia restricted progenitors thus having potential applications for diabetes, and for neurodegenerative diseases such as ALS. The therapy is scalable and industrialized, to be commercialized as a stable “off the shelf” product and reduce the cost of treatments. For this, Kadimastem uses pluripotent cells (e.g. embryonic stem cells - hESCs) that have a unique ability to multiply infinitely without losing their "naivety" and to be able to become any cell type.

The product is produced under GMP guidelines (similar to traditional therapeutics) in order to reach optimal medical results. The company developed a groundbreaking process to differentiate the cells in the lab, before their injection into the patient, unlike other technologies which transplant immature precursor cells. The company’s process markedly enhances the efficiency of the treatment.

TECHNOLOGY

Stem Cells, Drug screening for myelin sheath, Human Oligodendrocytes, Human beta cells, Bio-banking, Cell Therapy, GMP Facilities, Cell Production.

Products and Phases

Product	Phase
AstroRx®	Phase I/IIa
Functional Healthy Astrocytes to Protect ALS-Diseased Motor Neurons. Clinical grade human astrocytes (the nervous system supporting cells) for the treatment of ALS and other neurodegenerative diseases. Received approval by the Israeli Ministry of Health to commence phase I/IIa clinical trial in ALS patients. 6 month follow up results for Cohort B have been reported.
IsletRx
Clinical grade pancreatic islet cells which produce and secrete insulin and glucagon in response to blood glucose levels. A unique micro-encapsulation technology, integrated within IsletRx, protects the islet cells from the host immune system, this allowing prolonged therapeutic effect overcoming a major challenge faced by the Cell Therapy industry.

	TARGET MARKETS
	Pharmaceutical companies interested in cellular therapeutics to treat diabetes or spinal cord injury and drug discovery of compounds to treat diabetes or multiple sclerosis; ALS patients, Type 1 Diabetes & Insulin dependent Diabetes patients.

	BUSINESS MODEL
	B2B

SERVICE PROVIDERS

Company Name	Type
abC Defghij	Accounting Firm

REMARKS

Date	Remark
30/10/2025	Kadimastem completed a merger with Swiss company NLS Pharmaceutics and formed a new combined company called NewcelX. Following the merger Kadimastem delisted from TASE and NewcelX started to trade on Nasdaq under the ticker symbol NCEL. Kadimastem shareholders hold 80% of NewcelX.
24/09/2019	Kadimastem Announces Promising Interim Results of Cohort A of its Phase 1/2a Clinical Trial in ALS
26/01/2015	Kadimastem signed an agreement with Ramot, Tel Aviv University's (TAU) technology transfer company. Under the agreement, the company will conduct joint research with Prof. Shimon Efrat in the field of cell therapy for diabetes, based on the technology developed by Kadimastem, and the extensive experience accumulated by Prof. Efrat and his TAU research team.
01/08/2009	Kadimastem was founded based on patent protected technology that was developed at the Weizmann Institute of Science, in Prof. Michel Revel’s laboratory.

CONTACT INFO

Expand / Collapse All

Main Address: Ness Ziona, Israel

Address	7 Sapir Pinchas St., Bldg. 7, Weizmann Science Park
POB	4152
City	Ness Ziona
Country	Israel
Zip	7403630

Contact Person	abC Defghij
Contact E-Mail	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

	MANAGEMENT

Key Executive

Name	Title	Previous Position
Mr. Ronen Twito	CEO	XTL (Deputy CEO & CFO)
Prof. Michel Revel	Chief Scientist & Co-Founder
Dr. Arik Hasson	EVP, Business Development
Ms. Michal Izrael	VP R&D, ALS & Diabetes
Dr. Kfir Molakandov	Director of Diabetes & Innovation
Mr. Yossi Ben-Yossef	Co-Founder	Kadima (Chairman)

	BOARD

Board

Member	Title	Affiliation
abC Defghij	Chairman	Founder, Amplify Capital Ltd.
abC Defghij	Board Member	Co-Founder, Kadimastem
abC Defghij	Board Member	Former CEO, Adomasante
abC Defghij	Board Member	CEO, Ilex Medical
abC Defghij	Independent Director	Former CEO, Teva israel

Mergers & Acquisitions

Round

Date

Stage

Amount

Valuation

Merged

Oct. 30, 2025

Initial Revenues

abCDe

Kadimastem and NLS Pharmaceutics merged through a share swap deal to form a new company called NewcelX. Kadimastem's share holders hold 80% of NewcelX.

* New investor

Investor	Type	Amount	Remarks
abC Defghij*	High-Tech Company	abCDe

Public Offerings

Deal Date	Type of Offering	Exchange	Amount Raise	Valuation	Remarks
Jan. 08, 2023	Fifth Public Offering	TASE	abCDe	abCDe	Raised NIS 7.5m; Valuation NIS 45m; Existing shareholders Prof. Michel Revel, Mr. Julien Ruggeri and Alpha Capital Anstalt have participated
Feb. 02, 2020	Fourth Public Offering	TASE	abCDe	abCDe	Raised NIS 9.1m; Valuation NIS 35.9m
Jul. 06, 2016	Third Public Offering	TASE	abCDe	abCDe
Dec. 16, 2015	Second Public Offering	TASE	abCDe	abCDe
Jun. 07, 2013	IPO	TASE	abCDe	abCDe	31/10/2025: Following the merger with Swiss company NLS Pharmaceutics, Kadimastem delisted from TASE.

	FINANCIAL ROUNDS

Total Capital Raised
abCDe

Financial Rounds

Numbers of Investors

Expand / Collapse All

Round

Date

Stage

Amount

Valuation

PIPE

Dec. 29, 2021

R&D

abCDe

PIPE

Dec. 12, 2021

R&D

abCDe

Raised NIS 16.1m (NIS 9.5m from exercised options and NIS 6.6m from a direct investment)

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Hedge Fund	abCDe	Exercised options
abC Defghij	Hedge Fund	abCDe	Exercised options
abC Defghij	Investment Company	abCDe	Exercised options
abC Defghij	Private Investor	abCDe	NIS 3.3m
abC Defghij	Private Investor	abCDe	NIS 3.3m

PIPE

Apr. 25, 2021

R&D

abCDe

Raised NIS 22.3m; Valuation NIS 68.8m

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Hedge Fund	abCDe	NIS 6.6m; Round co-leader
abC Defghij	Hedge Fund	abCDe	NIS 15m; Round co-leader
abC Defghij	Investment Company	abCDe	NIS 0.7m from two undisclosed investors.

PIPE

Oct. 02, 2018

R&D

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Institutional Investor	abCDe	Led the round
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe	02/2020: Purchased additional shares through a public offering, now holds 22.2% of the company.
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe

PIPE

Feb. 27, 2017

R&D

abCDe

PIPE

Mar. 20, 2014

R&D

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe

First Round

Oct. 01, 2010

R&D

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Traditional Industry	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe
abC Defghij	Private Investor	abCDe

Seed

Aug. 01, 2009

Seed

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Technology Transfer Company	abCDe
abC Defghij	Technology Transfer Company	abCDe
abC Defghij	Technology Transfer Company	abCDe

	R&D Grants

Expand / Collapse All

Round

Date

Stage

Amount

Remarks

R&D Grant

Jan. 19, 2023

R&D

abCDe

Co-op with iTolerance.

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Bi-National Fund	abCDe

R&D Grant

Dec. 20, 2022

R&D

abCDe

In support of a joint collaboration for the development of an innovative treatment in the field of diabetes with American company iTolerance, with a total budget of approximately $2m (NIS 7m) for a period of 30 months.

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Bi-National Fund	abCDe	NIS 3.5m

R&D Grant

Mar. 03, 2022

R&D

abCDe

The funds will be used to advance the filing of an IND with the FDA by the end of 2022, to secure the approval of the FDA of the anticipated Phase IIa, US, multicenter, clinical trial protocol of AstroRx® for the treatment of ALS and expand the use of AstroRx® cell product for other neurological conditions such as multiple sclerosis and glaucoma.

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Government Agency	abCDe	NIS 10m

R&D Grant

Dec. 12, 2021

R&D

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Government Agency	abCDe	NIS 4m

R&D Grant

Nov. 12, 2018

Initial Revenues

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Bi-Lateral R&D Program	abCDe

R&D Grant

Jun. 04, 2017

Initial Revenues

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Government Agency	abCDe

R&D Grant

May. 10, 2015

R&D

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Government Agency	abCDe

R&D Grant

Dec. 22, 2013

R&D

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Government Agency	abCDe

R&D Grant

Jan. 01, 2011

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Government Agency	abCDe

Last Updated:	abCDe
IVC Number:	abCDe