Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 220

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 220
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) annual license fees in the amount of $20,000, which Kadimastem began paying from the fourth
year of the agreement; (b) a total of $650,000 after reaching sales of products (by Kadimastem and/or sublicensees, cumulatively)
in the amount of $100,000,000 (net); (c) a total of $2,500,000 after reaching such sales of goods in a cumulative amount of $500,000,000
(net); and (d) a total of $6,500,000 after reaching such sales of products in a cumulative amount of $5,000,000,000 (net). The agreement
terminates upon the expiration of Yeda’s patents licensed to Kadimastem under the agreement, and at Yeda’s option upon (a) Kadimastem
to meet certain Milestones (as defined below); and (b), a period of six (6) months of no sales of any product developed under the
agreement, or a “ Product”. The Milestones include (a) within 2 (two) years from Agreement, Kadimastem must commence
pre-clinical activities directed toward the submission of an IND with respect to a Product; (b) within 3 (three) years from
the commencement of pre-clinical activities, to file an IND (or any equivalent application) with respect to a Product; (c) within
3 (three) years from IND filing, to commence a phase I clinical trial; (d) within 4 (four) years from the commencement
of a phase I clinical trial, to commence a phase III clinical trial; (e) within 4 (four) years from the commencement
of a phase III clinical trial, to receive regulatory approval for commencement of sales. As of the date of this annual report, $126,828
have been paid by Kadimastem to Yeda under this agreement.

Agreement with Ramot

In January 2015, Kadimastem entered into
a research and licensing agreement with Ramot for the commercialization arm of Tel Aviv University, and Professor Shimon Efrat, a leading
scientist in the joint research on behalf of Tel Aviv University. For the cooperation between the parties, Kadimastem must pay to Ramot
royalties at a rate of 0.3% - 0.8% for product sales, depending on progress according to the product