Company: NCEL
Filing Date: 2025-02-10
Form Type: F-3
Source: 0001213900-25-011823
Chunk: 33

Company: NewcelX Ltd.
Filing Date: 2025-02-10
Form: F-3
Chunk 33
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 $100,000,000 (net); (c) a total of $2,500,000
after reaching such sales of goods in a cumulative amount of $500,000,000 (net); and (d) a total of $6,500,000 after reaching such sales
of products in a cumulative amount of $5,000,000,000 (net).

In January 2015, Kadimastem
entered into a research and licensing agreement with Ramot - the commercialization arm of Tel Aviv University, and Professor Shimon Efrat,
a leading scientist in the joint research on behalf of Tel Aviv University. For the cooperation between the parties, Kadimastem must pay
to Ramot royalties at a rate of 0.3%-0.8% for product sales, depending on progress according to the product's regulatory milestones and
the degree of use of Ramot’s technology developed during the project, as stipulated in the agreement. In addition, royalties will
be paid to Ramot at a rate of 2.75% for consideration received by Kadimastem for sublicensing of product in the field of diabetes, depending
on the milestone specified in the agreement; or royalties at the rate of 7% if the sublicensing is for a product that combines the technology
of Ramot. It was also agreed that Kadimastem would grant to Ramot up to 200,000 options, free of charge, subject to reaching regulatory
milestones, at the following rates: 30% of the options would be granted after meeting with a regulatory body, prior to submitting the
IND application; additional options will be granted after the submission of the IND application; and an additional 40% of options
will be granted after receiving the IND approval. The granting of such options is subject to Professor Efrat continuing to advise Kadimastem
throughout various stages of the product's regulatory approval.

Intellectual Property

Kadimastem seek and have obtained
some patent protection as well as other effective intellectual property rights for Kadimastem’s products and technologies in the
United States and internationally. Kadimastem’s policy is to pursue, maintain and defend intellectual property rights developed
internally and to protect the technology, inventions and improvements that are commercially important to the development of Kadimastem’s
business.

<div align='center'>24</div>

A list of each of Kadimastem’s patent families, including each of their