Development-stage biopharmaceutical company NLS Pharmaceutics Ltd. and Kadimastem Ltd., a clinical stage cell therapy company, announced on Friday shareholder approval of their merger at a special general meeting.

This approval marks a significant step toward forming a Nasdaq-traded biotechnology company with a strong portfolio targeting neurodegenerative diseases and diabetes. NLS plans to hold a shareholder meeting for final approval of the merger.

The collaboration reflects a shared commitment to advancing innovative therapies for unmet medical needs. Both companies are aligning efforts to enhance their impact in the biopharmaceutical sector. Progress on the merger reinforces their strategic vision for growth and innovation.