NLS Pharmaceutics (NLSP) has released an update.
NLS Pharmaceutics is set to merge with Kadimastem, creating a Nasdaq-listed biotech firm with advanced clinical-stage product candidates, focusing on cell therapy for neurodegenerative diseases and diabetes treatment. Shareholders holding over 40% of each company have shown support for the merger, which will result in Kadimastem shareholders owning 85% of the new entity. The merger aims to leverage synergies in treatments for conditions like diabetes and sleep-wake disorders, enhancing shareholder value and advancing clinical assets.
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