Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 85

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 85
---
 of USD $3 million (NIS 10 million) (hereinafter, the “Budget”), for the purpose of a plan to continue the development 
 of cellular therapy to treat ALS. The IIA’s participation will be at a rate of 40% of the total Budget.                      |

As of the date of the financial statements,
the Company received USD $1,030 thousands from this amount.

The total grants received from the National
Authority for Technological Innovation by December 31, 2024, for which the Company is contingently liable to pay future royalties, was
USD $14,209 thousand.

As of the date of the financial statements,
the Company does not recognize a liability to the IIA, as it does not anticipate having revenues in the foreseeable future.

Note 13: - Financial Instruments

| A. | Financial assets |

Below is a classification of the financial
assets and financial liabilities in the financial statements for the financial instrument categories in accordance with IFRS 9:

|                                     |     |      December 31 |     |     |      |     |
|                                     |     |             2024 |     |     | 2023 |     |
|                                     |     | USD in thousands |     |     |      |     |
| Financial assets at amortized cost: |     |                  |     |     |      |     |
| Accounts receivable                 |     |                  | 130 |     |      | 451 |

<div align='center'>F-19</div>

| B. | Financial liabilities, interest-bearing loans and credits |

|                                                                                             |     |      December 31 |   |     |      |     |
|                                                                                             |     |             2024 |   |     | 2023 |     |
|                                                                                             |     | USD in thousands |   |     |      |     |
| Financial Liability                                                                         |     |                  |   |     |      |     |
| Liability for a financial lease - effective interest for the benefit of the calculation 20% |     |                  |   |     |      |     |
| Current maturities                                                                          |     |                  | - |     |      | 361 |

|                                                                                                       |     | The effective  interest rate/ |     |   |     | Repayment   |     |      December 31 |       |     |      |       |
|                                                                                                       |     | Revaluation(1)                |     |   |     | date        |     |