Company: NCEL
Filing Date: 2025-02-10
Form Type: F-3
Source: 0001213900-25-011823
Chunk: 93

Company: NewcelX Ltd.
Filing Date: 2025-02-10
Form: F-3
Chunk 93
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 time by health insurance companies, both private insurance
companies and public insurance companies, in accordance with considerations that go beyond the scope of the combines company’s influence.
A change to the reimbursement criteria or non-confirmation of eligibility for expenses reimbursement related to its products, as well
as fluctuations of indemnity amounts for substitute and complementary diagnostic tests may assist or impair its ability to sell Kadimastem’s
products and may affect its business outcomes.

Kadimastem may be materially adversely affected if there is an imbalance in global logistics, which may cause disruptions to its transport, storage and distribution operations, negatively impacting the costs related thereto.

Kadimastem’s operations
are dependent upon uninterrupted transportation, storage and distribution of its products. Transportation, storage or distribution of
its products could be partially or completely, temporarily or permanently shut down as the result of any number of circumstances that
are not within its control, such as:

| ● | catastrophic events;                                                                                   |
| ● | strikes or other labor difficulties;                                                                   |
| ● | disruption in the global supply chain, including container shortages;                                  |
| ● | war and other armed conflicts, such as the war in Israel and the war involving Russia and Ukraine; and |
| ● | other disruptions in means of transportation.                                                          |

Any significant interruption
at Kadimastem’s distribution facilities, an inability to transport its products to or from these facilities, or to or from its domestic
or foreign customers or suppliers, or an increase in transportation costs, for any reason, would materially adversely affect Kadimastem.

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Because Kadimastem relies on internal and external logistics to transport its drug substances and products and medical related inventory throughout the United States to and from its research and development center and other development hubs in U.S. locations, it is subject to business risks and costs associated with the transportation industry. Many of these risks and costs are out of Kadimastem’s control, and any of them could have a material adverse effect on its business, financial condition, and results of operations.

Kadimastem relies on a combination
of internal and external logistics to transport its drug substances, drug products and medical related inventory into and throughout the
United States to and from its research and development center and other development hubs in U.S. locations. As a result, Kadimastem is
exposed to risks associated with the transportation industry such as weather, traffic patterns, gasoline prices, shipping costs, foreign,
and