Company: NCEL
Filing Date: 2025-03-31
Form Type: 425
Source: 0001213900-25-025889
Chunk: 103

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: 425
Chunk 103
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___________

Title: ___________________________________________

Dated:_____________________________

Account Number (if electronic book entry transfer):
__________________________________

Transaction Code Number (if electronic book entry
transfer): __________________________

| Place, Date: | Signature: |

<div align='center'>70</div>

Exhibit 99.2

<div align='center'>REGISTRATION RIGHTS AGREEMENT</div>

REGISTRATION RIGHTS AGREEMENT
(this “Agreement”), dated as of March 26, 2025, by and among NLS Pharmaceutics Ltd., a corporation incorporated under
the laws of Switzerland, with headquarters located at The Circle 6, 8058 Zurich, Switzerland (the “Company”), and the
investors listed on the Schedule of Purchasers attached hereto (each, a “Purchaser” and collectively, the “Purchasers”).

WHEREAS:

A. In
connection with the Securities Purchase Agreement by and among the parties hereto dated March 26, 2024 (the “Securities Purchase Agreement”), the Company has agreed, upon the terms and subject to the conditions of the Securities Purchase Agreement, to issue
and sell to each Purchaser, (i) Convertible Preferred Shares (collectively, the “Preferred Shares”), which will be
convertible into shares of the Company's ordinary shares, par value CHF0.03 per share (the “Common Shares”) (the shares
of Common Shares issuable upon conversion of the Preferred Shares, collectively, the “Conversion Shares”), and (ii)
warrants (the “Warrants”) which will be exercisable to purchase shares of Common Shares (as exercised, collectively,
the “Warrant Shares”) in accordance with the terms of the Warrants.

B. In
accordance with the terms of the Securities Purchase Agreement, the Company has agreed to provide certain registration rights under the
Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute (collectively, the “1933 Act”), and applicable state securities laws.

NOW, THEREFORE, in
consideration of the premises and the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and each of the Purchasers hereby agree as follows:

1. .

Capitalized terms used herein
and not otherwise defined herein shall have the respective meanings set forth in the Securities Purchase Agreement. As used in this Agreement,
the following terms shall have the following meanings