Company: RGNT
Filing Date: 2025-02-12
Form Type: DRS/A
Source: 0001213900-25-012299
Chunk: 130

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-02-12
Form: DRS/A
Chunk 130
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 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 |

| (ii) | (ii) MACI, an autologous cellular (patient’s own cells) treatment procedures available from Vericel Corp., or Vericel, which is the only commercial offering in the U.S. market. If approved, GelrinC will compete in this market based on its already outlined advantages as an off-the-shelf highly cost-effective product. There are also “modified human tissue” products that are based on allogeneic cartilage matter – BioCartilage, from Arthrex GmbH, which is a paste mixed with PRP (platelet rich plasma or minced cartilage tissue) and Revaflex, a diced cadaver cartilage from ISTO Technologies Inc. These products are often dependent on cadaver tissue and are not frequently used across the patient population. |

While Vericel, Arthrex GmbH
and Revaflex will present us with competition, we believe that these competitors do not hold a significant market share in cartilage repair
which is calculated based on their revenue, amount of procedures they perform annually and the amount of cartilage repair cases currently
in the market. Other potential competitors, although not yet approved for marketing, may succeed in developing products that could directly
compete with GelrinC for market share in cartilage repair, but according to our belief, these other remaining potential competitors are
premature, in terms of research and development, in order for us to determine or evaluate what their potential market share significance
could be. An additional product named Agili-C, which was developed by CartiHeal (acquired by Smith & Nephew in January 2024), has
recently been approved by the FDA