Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 303

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 303
---
, the term of the Aexon License Agreement is from the effective date of the Aexon License Agreement to the latest of (i) NLS’s termination of the commercialization of one or more pharmaceutical or therapeutic products, or any combination thereof, in the use of such compounds for narcolepsy and other neuro degenerative disorders in the last region and country in which commercialization had actually begun, and (ii) the expiration of the last -to-expireValid Claim (as defined in the Aexon License Agreement) of a patent identified in the Aexon License Agreement and patents owned by Aexon as of the date of the Aexon License Agreement, that covers such pharmaceutical or therapeutic product for the use of such compounds for narcolepsy and other neuro degenerative disorders in the respective country or region in which it was used. Pursuant to the terms of the Aexon License Agreement, NLS agreed to pay Aexon a royalty on a country -by-countrybasis of 5% to 30% depending on (i) earnings by NLS in a specified region or country for licensed products covered by patents, (ii) whether the applicable patent has not been granted to the applicable product at the time of commercialization of such product and (iii) whether NLS challenges the validity of a patent. NLS made an 162 upfront payment of $30,000 for the option exclusivity and $170,000 upon execution of the definitive agreement to exercise the option for the License. In addition, Aexon Labs will receive 15% of all proceeds earned by NLS in any future sub -licensingagreements. NLS must also make royalty payments to Aexon upon the occurrence of certain milestones. Such payments upon the occurrence of milestones contemplated in the Aexon License Agreement range from $100,000 to $300,000, in addition to percentage royalty payments ranging from 5% to 15% which may decrease or increase up to 30% if NLS challenges the validity of the patents under the agreement, depending on the result of such challenge. Further, pursuant to the Aexon License Agreement, NLS has agreed to pay Aexon a percentage of license fees, milestones and royalties received from sublicensees, ranging between 5% and 15% which may decrease or increase up to 30% if NLS challenges the validity of the patents under the agreement, depending on the result of such challenge. On March 20, 2024, we entered