Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 426

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 426
---
5% of all non -sales-relatedupfront payments it or its affiliates actually received from any sublicensee, and 25% of all milestone payments actually received upon the occurrence or achievement of milestones by any sublicensee. The agreement terminates on December 31, 2026, or upon the execution of a commercialization agreement. The agreement may be terminated at any time if either party commits a material breach or if either party goes into bankruptcy, liquidation, makes a general assignment for the benefit of its creditors, or becomes a party to dissolution proceedings. Cooperation and Project Funding Agreement with iTolerance, Inc. On May 23, 2023, Kadimastem, the Israel -UnitedStates Binational Industrial Research and Development Foundation, or the BIRD Foundation, and iTolerance, Inc., or iTolerance, entered into a Pharma Cooperation and Project Funding Agreement for the clinical development of iTol -102, or the Proposal, and collectively, the iTolerance Co -DevelopmentAgreement. Under the iTolerance Co -DevelopmentAgreement, the BIRD Foundation agreed to fund the Proposal of up to $1,000,000, or the Foundation Grant, with repayment made from any gross revenues received from any products developed under the Proposal, or a Product. Following the earlier of (1) one year following an IND approval (or equivalent to any regulatory agency); (b) commencement of the marketing of any Product; or (c) the continuation of the development of the Product, the Foundation Grant shall become immediately payable to the BIRD Foundation, with the amounts to be repaid each year subject to certain maximum limits on the amount of gross sales to be repaid each year. Under the iTolerance Co -DevelopmentAgreement, the governments of Israel and the United States were granted a non -exclusive, irrevocable, royalty -freelicense to use any product for any purpose. The BIRD Foundation has the right to revoke the Foundation Grant upon the occurrence, among other events, a fundamental breach of the agreement, insolvency, change in business, dispute between, or material advance change in financial position of either Kadimastem or iTolerance. On July16, 2025, the BIRD Foundation has approved another milestone -basedfunding under the iTolerance Co -DevelopmentAgreement. The milestone payment is based on the significant progress demonstrated by the companies in the co -developmentof iTOL -102. The milestone payment approved by the BIRD Foundation amounts to approximately NIS 564,400 (approximately $166