Company: RGNT
Filing Date: 2025-03-11
Form Type: F-1
Source: 0001213900-25-022350
Chunk: 131

Company: REGENTIS BIOMATERIALS LTD.
Filing Date: 2025-03-11
Form: F-1
Chunk 131
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 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. However, to the best of our knowledge, Agili-C has not yet been launched for commercialization.

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If our