Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 737

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 737
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-23

Market Share We have assumed the third -partypharmaceutical company with which Kadimastem will reach a marketing agreement will take the following market shares in each of the two markets (ALS and Diabetes) within the time schedule in the tables:

| Country/Region |     | From |   |     | To |   |     | Time (years) |
| AstroRx (ALS)  |     |      |   |     |    |   |     |              |
| USA            |     |    2 | % |     | 20 | % |     |            4 |
| EU_5           |     |    2 | % |     | 20 | % |     |            4 |
| Japan          |     |    2 | % |     | 20 | % |     |            4 |

| Country/Region     |     | From |   |     |  To |   |     | Time (years) |
| IsletRx (Diabetes) |     |      |   |     |     |   |     |              |
| USA                |     |  0.2 | % |     | 1.5 | % |     |            4 |
| EU_5               |     |  0.2 | % |     | 1.5 | % |     |            4 |
| Japan              |     |  0.2 | % |     | 1.5 | % |     |            4 |

We assume that in both cases (ALS and Diabetes) sales will debut in the US and 4 Quarters later will start in Europe and 4 quarters afterwords sale in Japan will commence. Treatments: Schedule and Price We have assumed that the AstroRx ®(ALS) will be given to patients on a quarterly basis and that the IsletRx (Diabetes) treatment will be given once every three years. Also, according to the Company the prices of both treatments will be around $150 thousand, annually. Upfront and Royalties As mentioned, one of the main assumptions is that the Company will continue the development and testing of the AstroRx ®and IsletRx until the successful termination of the phase II clinical trials and afterwards will come to an agreement with a large pharmaceutical company that will take charge of the continuation of the clinical testing (Phase III) and when successful, of the commercialization of both developments. It is assumed that the Company will be entitled to