Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 103

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 103
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’s confirmation    
 that the cells are suitable for human use; a sum of 50,000 pounds sterling (USD $75,000) would be paid by the Company when the cells are     
 used in clinical trials (that is, upon entering the phase clinical trials phase with an ALS indication). The Company stated that if the      
 cells are not used in clinical trials, no payment would be made for them. The rate of royalties to be paid by the Company is 2% of the       
 net revenue from the sale of a product to be developed.                                                                                      |

As of December 31, 2024, the Company
did not use the aforementioned cells.

into insulin-secreting pancreatic cells
for the treatment of diabetes. Ramot would grant the Company a license to use Ramot’s knowledge, which would be created as part
of the joint research, and Prof. Efrat would provide consulting services to the Company and join the Company’s advisory board. The
agreement term for each product and each country where a patent is registered will be the longer of the two option as detailed: 1. 15
years from the date of the first sale of the product or the patent expiration date in the relevant country.

<div align='center'>F-30</div>

| 2. | The patent expiration. |

For the cooperation between the parties,
the Company would pay Ramot royalties at a rate of 0.4% to 0.8% of product sales, depending on the product’s progress according
to regulatory milestones and the degree of use of Ramot’s technology that would be created during the project, as stipulated in
the agreement. In addition, royalties at the rate of 2.75% will be paid to the Company in return for granting a sublicense in the diabetes
product, depending on reaching the milestone specified in the agreement, and royalties at a rate of 7% will be paid if the granted sublicense
is for a product that incorporates Ramot’s technology. It was also agreed that the Company would grant Ramot up to 200,000 options,
without consideration, which would be granted depending on reaching regulatory milestones, at rates as follows: 30% of the options would
be granted after holding a meeting with a regulator, prior to submitting the Investigational New Drug (“IND”) application;
30% additional options would be granted after the submission of the IND application; and 40% additional options would be granted after
receiving the IND approval. The grant