Company: RGNT
Filing Date: 2025-01-24
Form Type: DRS
Source: 0001213900-25-006245
Chunk: 129

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-01-24
Form: DRS
Chunk 129
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 automatically renewable for consecutive 1-year
terms (with the exception of pricing, which will be re-negotiated 90 days prior to the expiration of the term), unless either party gives
notice of termination at least 90 days prior to the then current term. The Supply Agreement may be terminated without cause by Baxter
upon 90 days’ prior written notice to the other parties. In addition, either party may terminate the Supply Agreement in the event
of a Voluntary Liquidation Event (as defined in the Supply Agreement), including, but not only, insolvency, and an uncured material breach.

Baxter Services Agreement

On February 27, 2018, we entered
into a services agreement with Baxter, or the Service Agreement, pursuant to which we agreed to purchase certain services from Baxter
in connection with Teva’s supply of Tisseel under the Agreement for manufacturing of GelrinC.

Under the Services Agreement,
Baxter provides us with quality, regulatory and technical support, for up to a maximum aggregate of 40 man-hours per year for all such
support. In consideration for receiving such support, we pay Baxter $60,000 per year until we receive FDA approval to market GelrinC in
the United States. If we exceed the 40 hours limit, Baxter will charge us $2,500 per any additional hour. Following FDA approval to market
GelrinC in the United States, we shall pay Baxter $200,000 per year during the term of this Services Agreement.

The Services Agreement has
an initial term of 5 years and is automatically renewable for consecutive 5 years term. According to the Service Agreement, it at any
time during the term of the Service Agreement, we decide in good faith to commence negotiations with any third party for the acquisition
of all or substantially all of our stock or assets, we shall provide a written notice to Baxter at least 10 business day in advance of
commencing such negotiations.

In March 2022, following Baxter
establishing a local subsidiary in Israel, Teva was taken out of the Service Agreement and we are, since then, sourcing Tisseel kits from
Baxter Israel directly without change in any of the terms.

Competition

We are currently unaware of
any off-the-shelf product solutions in the market for cartilage knee repair. There are two main procedures available and already discussed
in this prospectus:

| (i) | microfacture, which is non-proprietary, and |

| (