Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 192

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 192
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omnia, as well as neuro-degenerative disorders such as Parkinson’s and
Alzheimer’s disease. This license agreement represents a potentially leading next-generation, first-in-class, oral, dual
orexin receptor agonist platform that is expected to address high unmet medical needs and has shown promising results in
pre-clinical in vitro assays. NLSP has plans to initiate proof-of-concept preclinical development following the Merger, subject to
sufficient funding.

The possibility to acquire
this novel and unique platform, consisting of over 300 compounds, bridges the present to the future treatment of sleep disorders as well
as other neuro-degenerative disorders. Orexin receptor pathways play vital regulatory roles in many physiological processes and studies
have shown that orexin receptor pathways are involved in pathological processes of neurological diseases such as obesity, narcolepsy,
depression, ischemic stroke, drug addiction and Alzheimer’s disease. These new compounds, in addition to our current pipeline, including
Mazindol ER for the treatment of narcolepsy, NLS-4 focused on idiopathic hypersomnia, long-COVID and chronic fatigue syndrome, and NLS-11,
addressing Kleine-Levin Syndrome and neurodegenerative diseases, will further complement and strengthen our sleep franchise. NLS will
be uniquely positioned to hold the key to unlock the challenges associated with rare sleep disorders now and in the future.

In addition, we initiated
a comprehensive exploration of new opportunities that align with our core values and strengths, with the goal of diversifying our revenue
streams, mitigating risks and creating lasting value for our stakeholders. As part of this process, the Company is considering a wide
range of options with a focus on maximizing shareholder value, including strategic partnerships, out licensing assets of the Company,
and other future strategic actions. Several strategic partnerships discussions are currently under way and in advanced stages of negotiations.
As always, we continue to approach the sleep medicine market from a holistic perspective. According to Global Narcolepsy Drugs Market
(By Therapeutic Type, Disease Type, End User, Regional Analysis), Pipeline Analysis, Key Company Profiles and Recent Developments - Forecast
to 2030” the global sleep medicine market is estimated to increase to more than $100 billion by 2030, with narcolepsy accounting
for over $6 billion by 2030.

License Agreements

Pegasus Advanced Research SAS License Agreement

In February 2015, Pegasus
Advanced Research, then named NeuroLife-Sciences SAS,