0001193805-21-000886 | F-4 | XBRL Viewer | Cellect Biotechnology LTD

Document And Entity Information	12 Months Ended
Document And Entity Information	Dec. 31, 2020
Document And Entity Information
Entity Registrant Name	Cellect Biotechnology Ltd.
Document Type	F-4
Amendment Flag	false
Entity Central Index Key	0001671502
Entity Emerging Growth Company	true
Entity Transition Period	false
Entity Incorporation, State or Country Code	L3

Consolidated Statement of Financial Position ₪ in Thousands, $ in Thousands	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)
CURRENT ASSETS:
Cash and cash equivalents	₪ 16,964		₪ 18,106
Other receivables	284		469
Current assets	17,248		18,575
LONG-TERM ASSETS:
Restricted cash	322		328
Right of use - Assets under operating lease	705		1,035
Other Long-term receivables	72		94
Property, plant and equipment, net	1,232		1,288
Non-current assets	2,331		2,745
Total Assets	19,579		21,320
CURRENT LIABILITIES:
Trade payables	389		158
Leases liabilities	369		396
Other payables	2,228		3,080
Current liabilities	2,986		3,634
NON CURRENT LIABILITIES:
Warrants to ADS	1,222		2,172
Leases liabilities	391		677
Non-current liabilities	1,613		2,849
CONTINGENT LIABILITIES AND COMMITMENTS
SHAREHOLDERS' EQUITY
Ordinary shares of no-par value: Authorized: 500,000,000 shares at December 31, 2019, and 2020, Issued and outstanding: 224,087,799 and 390,949,079 shares as of December 31, 2019 and 2020, respectively.	0		0
Additional Paid-in-Capital	126,838		108,598
Share-based payments	16,508		16,528
Treasury shares	(9,425)		(9,425)
Accumulated deficit	(118,941)		(100,864)
Equity	14,980		14,837
Total Liabilities and shareholders' equity	19,579		₪ 21,320
U.S. Dollars
CURRENT ASSETS:
Cash and cash equivalents \| $		5,277
Other receivables \| $		88
Current assets \| $		5,365
LONG-TERM ASSETS:
Restricted cash \| $		100
Right of use - Assets under operating lease \| $		219
Other Long-term receivables \| $		22
Property, plant and equipment, net \| $		384
Non-current assets \| $		725
Total Assets \| $		6,090
CURRENT LIABILITIES:
Trade payables \| $		121
Leases liabilities \| $		115
Other payables	₪ 693
Current liabilities \| $		929
NON CURRENT LIABILITIES:
Warrants to ADS \| $		380
Leases liabilities \| $		122
Non-current liabilities \| $		502
CONTINGENT LIABILITIES AND COMMITMENTS \| $
SHAREHOLDERS' EQUITY
Ordinary shares of no-par value: Authorized: 500,000,000 shares at December 31, 2019, and 2020, Issued and outstanding: 224,087,799 and 390,949,079 shares as of December 31, 2019 and 2020, respectively. \| $		0
Additional Paid-in-Capital \| $		39,452
Share-based payments \| $		5,135
Treasury shares \| $		(2,932)
Accumulated deficit \| $		(36,996)
Equity \| $		4,659
Total Liabilities and shareholders' equity \| $		$ 6,090

Consolidated Statement of Financial Position (Parentheticals) - ₪ / shares

Dec. 31, 2020

Dec. 31, 2019

Statement of financial position [abstract]

Ordinary shares, par value (in New Shekels per share and Dollars per share)

Ordinary shares, authorized

500,000,000

Ordinary shares, issued

^[1]

390,949,079

224,087,799

Ordinary shares, outstanding

^[1]

390,949,079

224,087,799

[1]	Net of 2,641,693 treasury shares of the Company, held by the Company.

Consolidated Statements of Comprehensive Loss ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 ILS (₪) ₪ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 ILS (₪) ₪ / shares shares	Dec. 31, 2018 ILS (₪) ₪ / shares shares
Statement Line Items [Line Items]
Research and development expenses, net \| ₪	₪ 5,883		₪ 12,122	₪ 13,513
General and administrative expenses		$ 8,111	10,210	15,734
Total operating expenses \| ₪	13,994		22,332	29,247
Operating loss \| ₪	13,994		22,332	29,247
Financial income \| ₪	0		(6,993)	(9,154)
Financial expenses \| ₪	4,083		1,469	20
Total Comprehensive loss \| ₪	₪ 18,077		₪ 16,808	₪ 20,113
Loss per share
Basic and diluted loss per share (in New Shekels per share and Dollars per share) \| ₪ / shares	₪ 0.049		₪ 0.079	₪ 0.155
Weighted average number of shares outstanding used to compute basic and diluted loss per share (in Shares) \| shares	368,078,786	368,078,786	212,642,505	129,426,091
U.S. Dollars
Statement Line Items [Line Items]
Research and development expenses, net		$ 1,830
General and administrative expenses		2,523
Total operating expenses		4,353
Operating loss		4,353
Financial income		0
Financial expenses		1,270
Total Comprehensive loss		$ 5,623
Loss per share
Basic and diluted loss per share (in New Shekels per share and Dollars per share) \| $ / shares		$ 0.015
Weighted average number of shares outstanding used to compute basic and diluted loss per share (in Shares) \| shares	368,078,786	368,078,786

Statements of Changes in Equity ₪ in Thousands, $ in Thousands	Additional paid-in capital ILS (₪)	Additional paid-in capital USD ($)	Treasury shares ILS (₪)	Treasury shares USD ($)	Sharebased Payments ILS (₪)	Sharebased Payments USD ($)	Retained earnings ILS (₪)	Retained earnings USD ($)	ILS (₪)	USD ($)
Balance at Dec. 31, 2017	₪ 82,839		₪ (9,425)		₪ 9,381		₪ (63,943)		₪ 18,852
Issuance of ADS net of issue costs	10,024				223				10,247
Share-based payment	186				4,351				4,537
Exercise of options and warrants into shares	753				(353)				400
Exercise of share options	1,283				(1,283)
Total comprehensive loss							(20,113)		(20,113)
Balance at Dec. 31, 2018	95,085		(9,425)		12,319		(84,056)		13,923
Issuance of ADS & Warrants net of issue costs (see Note 9a5)	13,505				1,509				15,014
Share-based payment	8				2,700				2,708
Total comprehensive loss							(16,808)		(16,808)
Balance at Dec. 31, 2019	108,598		(9,425)		16,528		(100,864)		14,837
Issuance of ADS net of issue costs	9,194								9,194
Share-based payment					739				739
Exercise of options and warrants into shares	9,046				(759)				8,287
Total comprehensive loss							(18,077)		(18,077)
Balance at Dec. 31, 2020	₪ 126,838		₪ (9,425)		₪ 16,508		₪ (118,941)		₪ 14,980
Convenience translation in U.S. dollars (see Note 2d) (in Dollars) \| $		$ 39,452		$ (2,932)		$ 5,135		$ (36,996)		$ 4,659

- Definition

The amount of residual interest in the assets of the entity after deducting all its liabilities.

+ References + Details

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

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+ Details

Consolidated Statements of Cash Flows ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)	Dec. 31, 2018 ILS (₪)
Statement Line Items [Line Items]
Total Comprehensive Loss	₪ (18,077)		₪ (16,808)	₪ (20,113)
Adjustments to profit and loss items:
Exchange rate difference	(1,326)		1,036	(1,297)
Loss (Gain) from revaluation of financial assets presented at fair value through profit and loss	0		0	(397)
Depreciation of Right of use - Assets under operating lease	369		433	0
Depreciation and capital loss from sale of property, plant and equipment	350		373	459
Finance expenses	88		128	0
Issuance expenses	0		1,621	0
Share-based payment	738		2,708	4,537
Changes in fair value of Traded and Non-Traded Warrants To ADS	2,722		(8,643)	(7,719)
Adjustments to profit and loss	2,941		(2,344)	(4,417)
Changes in asset and liability items:
Decrease in other receivables	207		385	43
Increase (Decrease) in trade payable and other payables	(621)		(1,663)	798
Operating activities for changes in asset and liability	(414)		(1,278)	841
Cash paid and received during the year for:
Interest received	64		93	54
Net cash used in operating activities	(15,486)		(20,337)	(23,635)
Cash Flows from Investing Activities:
Proceeds received from the sale of fixed assets	35		6	0
Short term deposits, net	0		0	387
Restricted deposit	6		9	(22)
Marketable securities measured at fair value through profit and loss, net	0		0	13,999
Purchase of property, plant and equipment	(329)		(123)	(656)
Net cash provided by (used in) investing activities	(288)		(108)	13,708
Cash Flows from Financing Activities:
Exercise of warrants and stock options into shares	4,615		0	399
Repayment on account of lease liabilities	(441)		(522)	0
Issuance of share capital and warrants, net of issue costs	9,194		22,393	12,360
Net cash provided by financing activities	13,368		21,871	12,759
Exchange differences on balances of cash and cash equivalents	1,264		(1,129)	1,243
Increase in cash and cash equivalents	(1,142)		297	4,075
Balance of cash and cash equivalents at the beginning of the year	18,106		17,809	13,734
Balance of cash and cash equivalents at the end of the year	16,964		18,106	17,809
(a) Non-cash activities:
Purchase of property, plant and equipment	0		₪ 0	₪ 3
U.S. Dollars
Statement Line Items [Line Items]
Total Comprehensive Loss \| $		$ (5,623)
Adjustments to profit and loss items:
Exchange rate difference \| $		(412)
Loss (Gain) from revaluation of financial assets presented at fair value through profit and loss \| $		0
Depreciation of Right of use - Assets under operating lease \| $		115
Depreciation and capital loss from sale of property, plant and equipment \| $		109
Finance expenses	27
Issuance expenses	₪ 0
Share-based payment \| $		229
Changes in fair value of Traded and Non-Traded Warrants To ADS \| $		847
Adjustments to profit and loss \| $		915
Changes in asset and liability items:
Decrease in other receivables \| $		65
Increase (Decrease) in trade payable and other payables \| $		(193)
Operating activities for changes in asset and liability \| $		(128)
Cash paid and received during the year for:
Interest received \| $		20
Net cash used in operating activities \| $		(4,816)
Cash Flows from Investing Activities:
Proceeds received from the sale of fixed assets \| $		11
Short term deposits, net \| $		0
Restricted deposit \| $		2
Marketable securities measured at fair value through profit and loss, net \| $		0
Purchase of property, plant and equipment \| $		(103)
Net cash provided by (used in) investing activities \| $		(90)
Cash Flows from Financing Activities:
Exercise of warrants and stock options into shares \| $		1,435
Repayment on account of lease liabilities \| $		(137)
Issuance of share capital and warrants, net of issue costs \| $		2,860
Net cash provided by financing activities \| $		4,158
Exchange differences on balances of cash and cash equivalents \| $		393
Increase in cash and cash equivalents \| $		(355)
Balance of cash and cash equivalents at the beginning of the year \| $		5,632
Balance of cash and cash equivalents at the end of the year \| $		5,277
(a) Non-cash activities:
Purchase of property, plant and equipment \| $		$ 0

General

12 Months Ended

Dec. 31, 2020

Disclosure of general information about financial statements [text block] [Abstract]

GENERAL

Cellect Biotechnology Ltd. (formerly Cellect Biomed Ltd.) (the “Company” or “Cellect”) is incorporated in Israel. Cellect and its subsidiary, Cellect Biotherapeutics Ltd. (the “Subsidiary”) are engaged in the development of an innovative, unique technology that enables the biological filtering and commercialization of stem cells. On May 25, 2018, the Company established a US subsidiary, Cellect Biotech Inc. Cellect’s American Depository Shares (“ADSs”) and certain warrants to purchase ADSs are listed for trading on the Nasdaq Capital Market. Each ADS represents 100 ordinary shares.

On September 5, 2017, the Company’s ordinary shares were voluntarily delisted from the Tel Aviv Stock Exchange (“TASE”). The ordinary shares of the Company continue to be listed on the Nasdaq Capital Market in the form of ADSs.

On May 16th, 2019 the Company reported that it plans to explore strategic alternatives focused on maximizing shareholder value. Potential strategic alternatives that were evaluated included, but were not limited to, an acquisition, merger, business combination, in-licensing, or other strategic transaction involving the Company or its assets.

On March 24, 2021 the company announced that the Board of Directors approved a definitive Merger Agreement with Quoin Pharmaceuticals Inc. (“Quoin”). Completion of the merger is subject to approval of the Cellect and Quoin shareholders and certain other conditions and is expected to close by the end of the second quarter of 2021. The Company has also signed an agreement to sell the entire share capital of its subsidiary company, Cellect Biotherapeutics LTD. (the “Subsidiary”), which will retain all of its existing assets, to EnCellX Inc (for further details see Note 14 section 1 below).

On March 4, 2020 the Company reported the signing of two letters of intent, one a strategic commercial agreement, and the other which contemplated a full merger, both with Canndoc Ltd., a wholly owned subsidiary of Intercure Ltd. In November 2020, the Company announced a mutual agreement to end the commercial and merger discussions with Canndoc.

On October 7, 2019, the Company, announced a 5:1 ratio changes of the Company’s American Depositary Receipt, or ADR, program. As a result, the number of ordinary shares of the Company represented by each American Depositary Share, or ADS, will be changed from twenty (20) ordinary shares to one hundred (100) ordinary shares. The effective date for the ratio change was October 23, 2019.

Going Concern

The accompanying financial statements have been prepared in conformity with International Financial Reporting Standards (IFRS), assuming that the Company will continue to operate as a going concern. During the year ended December 31, 2020, the Company incurred a net loss of NIS 18,077 ($5,623) and had negative cash flows from operating activities of NIS 15,486 ($4,816). In addition, the Company had an accumulated deficit of NIS 118,941 ($36,996) on December 31, 2020. The Company’s management plans to seek additional equity financing.

The Company’s activities since inception have consisted of raising capital and performing research and development activities. As of December 31, 2020, principal commercial operations have not commenced. Successful completion of the Company’s development programs and, ultimately, the attainment of profitable operations, if any, are dependent on future events, including, among other things, its ability to obtain marketing approval from regulatory authorities and access potential markets, secure financing, develop a customer base, attract, retain, and motivate qualified personnel and develop strategic alliances. Although currently the Company has sufficient funds to operate in the next 12 months, in order to reach profitability, the Company will need to raise additional funds and there is no assurance that the company will be able to do so (see Note 1 section a above).

The Company expects to continue to incur substantial losses over the next several years during its development phase. To fully execute its business plan, the Company will need, among other things, to complete its research and development efforts and clinical and regulatory activities. These activities may take several years and will require significant operating and capital expenditures in the foreseeable future. There can be no assurance that these activities will be successful. If the Company is not successful in these activities it could delay, limit, reduce or terminate preclinical studies, clinical trials or other research and development activities. To fund its capital needs, the Company plans to raise funds through equity or debt financings or other sources, such as strategic partnerships and alliance and licensing arrangements, and in the long term, from the proceeds from sales. Additional funds may not be available when the Company needs them, on terms that are acceptable to it, or at all. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments to the carrying amounts and classifications of assets and liabilities that would result if the Company would be unable to continue as a going concern.

The COVID-19 pandemic has resulted in logistical challenges including availability of materials required for the Company’s R&D activities, complete arrest in recruiting patients to the ongoing Israeli trial and delay of the initiation of the IND approved trial in Washington University. The extent to which the COVID-19 pandemic impacts the Company’s operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration and severity of the pandemic, the impact of new virus mutations, and the actions that may be required to contain the pandemic or treat its impact.

The Company currently relies on a single source supplier for one of the components used for R&D. If the current supplier suffers a major natural or man-made disaster at its manufacturing facility, or if it were otherwise ceasing its supply, then this could result in further delays in the clinical studies and may delay product testing and potential regulatory approval until a qualified alternative supplier is identified.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Disclosure of significant accounting policies [text block] [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been applied consistently in the consolidated financial statements for all periods presented, unless otherwise stated.

Basis of presentation of the financial statements:

These financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). The Company’s financial statements have been prepared on a cost basis, except for liability related to warrants that are measured at fair value through profit or loss.

Consolidated financial statements:

The consolidated financial statements include the financial statements of companies that are controlled by the Company (subsidiaries). Control is achieved when the Company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Potential voting rights are considered when assessing whether an entity has control. The consolidation of the financial statements commences on the date on which control is obtained and ends when such control ceases.

The financial statements of the Company and its subsidiaries (the “Group”) are prepared as of the same dates and periods. The consolidated financial statements are prepared using uniform accounting policies by all companies in the Group. Significant intercompany balances and transactions and gains or losses resulting from intragroup transactions are eliminated in full in the consolidated financial statements.

Functional currency, reporting currency and foreign currency:

Functional currency and reporting currency:

The presentation currency of the financial statements is the New Israeli Shekel (“NIS”).

The Company and its subsidiaries determine the functional currency of each entity, and this currency is used to separately measure each entity's financial position and operating results. The Company's functional currency is NIS.

Transactions, assets and liabilities in foreign currency:

Transactions denominated in foreign currency are recorded upon initial recognition at the exchange rate at the date of the transaction. After initial recognition, monetary assets and liabilities denominated in foreign currency are translated at each reporting date into the functional currency at the exchange rate at that date. Exchange rate differences are recognized in profit or loss.

Convenience translation into U.S. dollars:

The financial statements as of December 31, 2020 and for the year then ended have been translated into U.S. dollars using the exchange rate of the U.S. dollar as of December 31, 2020 (U.S. $1.00 = NIS 3.215). The translation was made solely for convenience purposes.

The dollar amounts presented in these financial statements should not be construed as representing amounts that are receivable or payable in dollars or convertible into dollars, unless otherwise indicated.

Cash and Cash equivalents:

Cash equivalents are considered as highly liquid investments, including unrestricted short-term bank deposits with an original maturity of three months or less from the date of investment or with a maturity of more than three months, but which are redeemable on demand without penalty and which form part of the Group’s cash management.

Restricted cash:

Restricted cash is primarily invested to secure credit card payments and is used as security for the Company’s lease commitment.

Taxes on income:

Current or deferred taxes are recognized in profit or loss, except to the extent that they relate to items which are recognized in other comprehensive income or equity.

Current taxes

The current tax liability is measured using the tax rates and tax laws that have been enacted or substantively enacted by the reporting date as well as adjustments required in connection with the tax liability in respect of previous years.

Deferred taxes

Deferred taxes are computed in respect of temporary differences between the carrying amounts in the financial statements and the amounts attributed for tax purposes.

Deferred taxes are measured at the tax rate that is expected to apply when the asset is realized or the liability is settled, based on tax laws that have been enacted or substantively enacted by the reporting date.

Deferred tax assets are reviewed at each reporting date and reduced to the extent that it is not probable that they will be utilized. Temporary differences for which deferred tax assets had not been recognized are reviewed at each reporting date and a respective deferred tax asset is recognized to the extent that their utilization is probable.

Property, plant, and equipment:

Property, plant, and equipment are measured at cost, including directly attributable costs, less accumulated depreciation.

Depreciation is calculated on a straight-line basis over the useful life of the assets at annual rates as follows:

	%
Computers and Electronic Equipment		33
Laboratory and clinical experiments equipment		15
Leasehold improvements		(*)
Office furniture and equipment		7 - 15

(*)

Leasehold improvements are depreciated on a straight-line basis over the earlier of the lease term or the estimated useful life of the improvement.

The useful life, depreciation method and residual value of an asset are reviewed at least at the end of each reporting period and any changes are accounted for prospectively as a change in accounting estimate.

Depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale and the date that the asset is derecognized.

Research and development expenses:

Research and development expenses are recognized in profit or loss when incurred. The conditions enabling capitalization of development costs as an asset have not yet been met and, therefore, all development expenditures are recognized in profit or loss when incurred.

Government grants:

Government grants are recognized when there is reasonable assurance that the grants will be received, and the Company will comply with the attached conditions. Government grants received from the Israel-U.S. Binational Industrial Research and Development (“BIRD”) Foundation are recognized upon receipt as a reduction in research and development expenses, as the Company evaluated that there is reasonable assurance that the Company will not be required to pay royalties, based on the best estimate of future sales using the original effective interest method.

Impairment of non-financial assets:

The Company evaluates the need to record an impairment of non-financial assets whenever events or changes in circumstances indicate that the carrying amount is not recoverable.

If the carrying amount of non-financial assets exceeds their recoverable amount, the assets are reduced to their recoverable amount. The recoverable amount is the higher of fair value less costs to dispose and value in use. In measuring value in use, the expected future cash flows are discounted using a pre-tax discount rate that reflects the risks specific to the asset. The recoverable amount of an asset that does not generate independent cash flows is determined for the cash-generating unit to which the asset belongs. Impairment losses are recognized in profit or loss.

An impairment loss of an asset, other than goodwill, is reversed only if there have been changes in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. Reversal of an impairment loss, as above, shall not be increased above the lower of the carrying amount that would have been determined (net of depreciation or amortization) had no impairment loss been recognized for the asset in prior years and its recoverable amount. The reversal of impairment loss of an asset presented at cost is recognized in profit or loss.

The Company did not recognize any impairment of non-financial assets for any of the periods presented.

Financial instruments:

Effective January 1, 2019, the Company adopted IFRS 9 “Financial Instruments.”

Financial Assets

Classification:

The financial assets of the Company are classified into the following two categories:

(i) financial assets at fair value through profit or loss, and (ii) financial assets at amortized cost. The classification is done on the basis of the Company’s business model for managing the financial assets and the contractual cash flow characteristics of the financial assets.

Financial assets at amortized costs:

Financial assets at amortized cost are assets held pursuant to a business model whose objective is to hold assets in order to collect contractual cash flows and the contractual terms of the financial assets give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Financial assets at amortized cost are included in current assets, except for those with maturities greater than 12 months after the balance sheet date (in which case they are classified as non-current assets).

The Company’s financial assets at amortized cost are included in other receivables and bank deposits in the consolidated statements of financial position.

Financial assets at fair value through profit or loss:

Financial assets at fair value through profit or loss are assets not measured at amortized cost in accordance with (1)(a) above. Assets in this category are classified as current assets if they are expected to be settled within 12 months; otherwise, they are classified as non-current assets.

Recognition and measurement

Regular purchases and sales of financial assets are recognized on the settlement date, which is the date on which the asset is delivered to the Company or delivered by the Company. Investments are initially recognized at fair value plus transaction costs for all financial assets not recorded at fair value through profit or loss, except for trade receivables, which are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components.

Financial assets measured at fair value through profit or loss are initially recognized at fair value, and related transaction costs are expensed to profit or loss. Financial assets are derecognized when the rights to receive cash flow from the investments have expired or have been transferred and the Company has transferred substantially all risks and rewards of ownership. Financial assets at fair value through profit or loss are subsequently recorded at fair value. Financial assets at amortized cost are measured in subsequent periods at amortized cost using the effective interest method.

Gains or losses arising from changes in the fair value of financial assets at fair value through profit or loss are presented in the Statement of Comprehensive Loss under financial income or expenses.

Impairment

The Company recognizes a loss allowance for expected credit losses on financial assets at amortized cost. At each reporting date, the Company assesses whether the credit risk on a financial instrument has increased significantly since initial recognition. If the financial instrument is determined to have low credit risk at the reporting date, the Company assumes that the credit risk on a financial instrument has not increased significantly since initial recognition.

Prior to the effective date and adoption of IFRS 9, the financial assets of the Company were classified into the following categories: (i) financial assets at fair value through profit or loss, and (ii) loans and receivables. The classification depended on the purpose for which the financial assets were acquired. Also, prior to the adoption of IFRS 9, the Company assessed at December 31, 2018 whether there was any objective evidence that a financial asset or group of financial assets was impaired.

Financial Liabilities:

Financial liabilities at fair value through profit or loss

Warrants allotted to investors with a cashless exercise mechanism. In accordance with International Accounting Standard 32: “Financial Instruments: Presentation”, these warrants are classified as a “financial liability”. As the aforementioned liability is a non-equity derivative financial instrument, it is classified in accordance with IFRS 9 as a financial liability at fair value through profit or loss, which is measured at its fair value at each date of the balance sheet, with changes in the fair value carried to “profit from changes in fair value of warrants issued to investors” in the consolidated statement of loss and comprehensive loss.

Financial liabilities at fair value through profit or loss

Trade payables and financial liabilities included in “other liabilities” are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method.

Fair value measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Fair value measurement is based on the assumption that the transaction will take place in the asset’s or the liability’s principal market, or in the absence of a principal market, in the most advantageous market.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

Fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

All assets and liabilities measured at fair value or for which fair value is disclosed are categorized into levels within the fair value hierarchy based on the lowest level input that is significant to the entire fair value measurement:

Level 1	-	quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2	-	inputs other than quoted prices included within Level 1 that are observable directly or indirectly.

Level 3	-	inputs that are not based on observable market data (valuation techniques which use inputs that are not based on observable market data).

The following table presents the Quantitative disclosures of the fair value measurement hierarchy for the Group’s liabilities.

	December 31, 2020
		Fair value measurements using input type
		Level 1		Level 2		Total

Financial liabilities related to Warrants to ADS		(109	)	(1,113	)	(1,222	)

	December 31, 2019
		Fair value measurements using input type
		Level 1		Level 2		Total

Financial liabilities related to Warrants to ADS		(134	)	(2,038	)	(2,172	)

Treasury shares

Treasury shares are measured at their acquisition cost and are presented as an offset against the Company’s equity. Any gain or loss deriving from the purchase, sale, issuance, or cancellation of treasury shares is recognized directly in equity.

Employee benefit liabilities:

The Group has several employees’ benefits plans:

Short-term employment benefits:

Short-term employee benefits are benefits that are expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related services. These benefits include salaries, paid annual leave, paid sick leave, recreation and social security contributions and are recognized as expenses as the services are rendered. A liability in respect of a cash bonus or a profit-sharing plan is recognized when the Group has a legal or constructive obligation to make such payment as a result of past service rendered by an employee and a reliable estimate of the amount can be made.

Post-employment benefits:

Post- employment benefit plans are normally funded by contributions to insurance companies and are classified as defined contribution plans.

The Company has defined contribution plans pursuant to Section 14 of the Israeli Severance Pay Law, into which the Company pays fixed contributions and has no legal or constructive obligation to pay further contributions on account of severance pay, even if the fund does not hold sufficient amounts to pay all employee benefits relating to employee service in current and prior periods.

Contributions to the defined contribution plan in respect of severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee’s services.

Share-based payment transactions:

The Company’s employees and other service providers are entitled to remuneration in the form of equity-settled share-based payment transactions and certain employees and other service providers are entitled to remuneration in the form of cash-settled share-based payment transactions that are measured based on the increase in the Company’s share price.

Equity-settled transactions:

The cost of equity-settled transactions with employees is measured at the fair value of the equity instruments granted at grant date. The fair value is determined using an acceptable option pricing model.

As for other service providers, the cost of the transactions is measured at the fair value of the goods or services received as consideration for equity instruments granted.

In case where the fair value of the goods or services received as consideration of equity instruments cannot be measured, they are measured by reference to the fair value of the equity instruments granted.

The cost of equity-settled transactions is recognized in profit or loss, together with a corresponding increase in equity, during the period in which the performance or service conditions are satisfied and ending on the date on which the relevant employees become fully entitled to the award (the “Vesting Period”).

No expense is recognized for awards that do not ultimately vest, except for awards where vesting is conditional upon a market condition, which are treated as vested irrespective of whether the market condition is satisfied, provided that all other vesting conditions (service and/or performance) are satisfied.

If the Company modifies the conditions on which equity-instruments were granted, an additional expense is recognized for any modification that increases the total fair value of the share-based payment arrangement or is otherwise beneficial to the employee/other service provider at the modification date.

If a grant of an equity instrument is cancelled, it is accounted for as if it had vested on the cancellation date and any expense not yet recognized for the grant is recognized immediately. However, if a new grant replaces the cancelled grant and is identified as a replacement grant on the grant date, the cancelled and new grants are accounted for as a modification of the original grant, as described above.

Loss per share:

Loss per share is calculated by dividing the net loss attributable to Company shareholders by the weighted number of outstanding ordinary shares during the period.

Leases:

The Company has adopted IFRS 16 retrospectively from January 1, 2019 under the modified retrospective approach. The company has applied IFRS 16 in accordance with the cumulative catch-up approach using the practical expedient of calculating the liability based on the present value of the outstanding rentals and discounted on the incremental borrowing rate at the date of transition. The right of use asset was then set to equal the liability.

In applying IFRS 16 for the first time, the Company used the following practical expedient permitted by the standard:

Appling a single discount rate to a portfolio of leases with reasonably similar characteristics;

Accounting for operating leases with a remaining lease term of less than 12 months as of January 1, 2019, as short-term leases;

The Company has also elected not to reassess whether a contract is or contains a lease at the date of initial application. Instead, for contracts entered into before the transition date, the Company relied on its assessment made by applying IAS-17 and IFRIC-4 to determining whether an arrangement contains a lease.

From January 1, 2019, the leases are recognized as right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the Company. Each lease payment is allocated between the relative liability and financial cost. The financial cost is charged to profit or loss under Financial Expenses over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis.

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments (including in-substance fixed payments) and variable lease payments which are based on an index or a rate. Variable lease payments were not significant for the period.

The lease payments are discounted using the rate implicit in the lease. If this rate cannot be readily determined, the lessee uses its incremental borrowing rate, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions.

The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made.

The company re-measures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever:

The lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is re-measured by discounting the revised lease payments using a revised discount rate.

The lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is re-measured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used).

A lease contract is modified, and the lease modification is not accounted for as a separate lease, in which case the lease liability is re-measured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification.

Right-of-use assets are measured at cost, being the amount of the initial measurement of the lease liability and are subsequently measured at cost less accumulated depreciation and impairment losses.

The company applies IAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in the ‘Property, Plant and Equipment’ policy.

Estimates and assumptions:

The preparation of the Group’s financial statements requires management to make estimates and assumptions that have an effect on application of the accounting policies and on the reported amounts of assets, liabilities and expenses. Changes in accounting estimates are reported in the period of the change in estimate.

The key assumptions made in the financial statements concerning uncertainties at the reporting date and the critical estimates computed by the Company that may result in a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

●

Determining the fair value of share-based transactions

The fair value of share-based transactions is determined upon initial recognition using acceptable option pricing models. The model is based on per-share price data and the exercise price and assumptions regarding expected volatility, expected life, expected dividend and risk-free interest rate.

New and Amended IFRS Standards

12 Months Ended

Dec. 31, 2020

Disclosure of first-time adoption [text block] [Abstract]

NEW AND AMENDED IFRS STANDARDS

Impact of the initial application new and amended IFRS standards that are effective for the current year:

Amendments to IAS 1 and IAS 8 Definition of material

The Group has adopted the amendments to IAS 1 and IAS 8 for the first time in the current year. The amendments make the definition of material in IAS 1easier to understand and are not intended to alter the underlying concept of materiality in IFRS Standards. The concept of 'obscuring' material information with immaterial information has been included as part of the new definition. The threshold for materiality influencing users has been changed from 'could influence' to 'could reasonably be expected to influence'. The definition of material in IAS 8 has been replaced by a reference to the definition of material in IAS 1. In addition, the IASB amended other Standards and the Conceptual Framework that contain a definition of 'material' or refer to the term ‘material’ to ensure consistency.

New and revised IFRS Standards in issue but not yet effective

Amendments to IAS 1 – Classification of Liabilities as Current or Non-current

The amendments to IAS 1 affect only the presentation of liabilities as current or non-current in the statement of financial position and not the amount or timing of recognition of any asset, liability, income or expenses, or the information disclosed about those items.

The amendments clarify that the classification of liabilities as current or non-current is based on rights that are in existence at the end of the reporting period, specify that classification is unaffected by expectations about whether an entity will exercise its right to defer settlement of a liability, explain that rights are in existence if covenants are complied with at the end of the reporting period, and introduce a definition of ‘settlement’ to make clear that settlement refers to the transfer to the counterparty of cash, equity instruments, other assets or services.

The amendments are applied retrospectively for annual periods beginning on or after 1 January 2023, with early application permitted.

The Company do not expect that the adoption of the amendment listed above will have a material impact on the financial statements of the Group in future periods.

Other Receivables

12 Months Ended

Dec. 31, 2020

Trade and other receivables [abstract]

OTHER RECEIVABLES

					Convenience
					translation (Note 2d)
	December 31,				December 31,
	2019		2020		2020
		N I S				U.S. dollars

Other receivables		9		15		5
Government authorities		258		56		17
Prepaid expenses		202		213		66
		469		284		88

Leases

12 Months Ended

Dec. 31, 2020

Lease liabilities [abstract]

LEASES

Leases (Group as a lessee)

Disclosure required by IFRS 16

Right-of-use assets

	Offices			Vehicles		Total
*Cost*
Balance as of January 1, 2020		1,317			151		1,468
Deductions during the year		(17	)		—		(17	)
Additions during the year		—			56		56

Balance as of December 31, 2020		1,300			207		1,507

*Accumulated Depreciation*

Balance as of January 1, 2020		329			104		433
Additions during the year		336			33		369
		665			137		802

Balance as of December 31, 2020		635			70		705

Balance as of December 31, 2020 (convenience translation into U.S. dollars (Note 2d))		198			21		219

Balance as of December 31, 2019:

	Offices		Vehicles			Total
*Cost*
Balance as of January 1, 2019		1,317		297			1,614
Deductions during the year		—		(146	)		(146	)

Balance as of December 31, 2019		1,317		151			1,468

*Accumulated Depreciation*

Balance as of January 1, 2019		—		—			—
Additions during the year		329		104			433
		329		104			433

Balance as of December 31, 2019		988		47			1,035

Balance as of December 31, 2019 (convenience translation into U.S. dollars (Note 2d))		286		13			299

The company leases include offices and vehicles under operating lease. The average lease term is 3 years.

Impact on the comprehensive loss for the year

					Convenience
					translation (Note 2d)
	December 31,				December 31,
	2019		2020		2020
	NIS				U.S. dollars

Interest expenses on lease liabilities		128		88		27
Expense relating to short-term leases		196		—		—
Depreciation of right-of-use asset		433		369		115

		757		457		142

Lease liabilities

					Convenience
					translation (Note 2d)
	December 31,				December 31,
	2019		2020		2020
		N I S				U.S. dollars

Current		396		369		115
Non-current		677		391		121

Total lease liabilities		1,073		760		236

Maturity analysis of lease liabilities

					Convenience
					translation (Note 2d)
	December 31,				December 31,
	2019		2020		2020
		N I S				U.S. dollars

Year 1		435		413		129
Year 2		413		402		125
Year 3		320		7		2
Year 4		6		—		—

Total undiscounted cash payments		1,174		822		256

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property, plant and equipment [abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

Balance as of December 31, 2020

	Laboratory equipment			Leasehold improvements		Office furniture and equipment			Computers			Total
*Cost*
Balance as of January 1, 2020		1,885			396		219			369			2,869
Additions during the year		313			—		—			16			329
Deductions during the year		(78	)		—		(1	)		(17	)		(96	)

Balance as of December 31, 2020		2,120			396		218			368			3,102

*Accumulated Depreciation*

Balance as of January 1, 2020		816			381		65			319			1,581
Additions during the year:		288			7		21			34			350
Deductions during the year		(48	)		—		(*)			(13	)		(61	)

Balance as of December 31, 2020		1,056			388		86			340			1,870

Depreciated cost as of December 31, 2020		1,064			8		132			28			1,232

Depreciated cost as of December 31, 2020 (convenience translation into U.S. dollars (Note 2d))		332			2		41			9			384

Balance as of December 31, 2019:

	Laboratory equipment		Leasehold improvements		Office furniture and equipment			Computers			Total
*Cost*
Balance as of January 1, 2019		1,777		396		220			359			2,752
Additions during the year		108		—		—			15			123
Deductions during the year		—		—		(1	)		(5	)		(6	)

Balance as of December 31, 2019		1,885		396		219			369			2,869

*Accumulated Depreciation*

Balance as of January 1, 2019		536		366		45			261			1,208
Additions during the year:		280		15		20			61			376
Deductions during the year		—		—		(*)			(3	)		(3	)

Balance as of December 31, 2019		816		381		65			319			1,581

Depreciated cost as of December 31, 2019		1,069		15		154			50			1,288

Other Payables

12 Months Ended

Dec. 31, 2020

Trade and other payables [abstract]

OTHER PAYABLES

					Convenience
					translation (Note 2d)
	December 31,				December 31,
	2019		2020		2020
		N I S				U.S. dollars

Employees and payroll accruals (*)		877		810		252
Accrued expenses		2,025		1,391		432
Other		178		27		9

		3,080		2,228		693

(*)

Balance includes related parties (The Company’s CEO and the Chairman of the Board of Directors).

Equity

12 Months Ended

Dec. 31, 2020

Disclosure of classes of share capital [abstract]

EQUITY

Changes in share capital:

	Number of
	Shares (issued and outstanding)

Balance as of January 1, 2019		(*) 130,414,799

Issuance of shares and warrants (see Note 9.4)		93,673,000

Balance as of December 31, 2019		(*) 224,087,799

Issuance of shares (see Note 8.5)		100,000,000

Exercise of warrants (see Note 9.4 and 9.6)		66,861,280

Balance as of December 31, 2020		(*) 390,949,079

(*)

Net of 2,641,693 treasury shares of the Company, held by the Company.

In February 2016, the Company completed a private placement of shares and warrants for a total of approximately NIS 8,000 and issued 5,783,437 ordinary shares as well as 1,927,801 unlisted warrants exercisable for a period of 12 months, at an exercise price of NIS 2.1 per warrant. Participants in the private placement also included related parties and an officer of the Company. On May 16, 2016, the Company’s shareholders, at a general meeting, approved the participation of the controlling shareholder and Chairman of the Board, Nuriel Kasbian Chirich, in the private placement, and accordingly he was allotted 287,769 shares and 95,923 unlisted warrants of the Company on the same terms as the rest of the offerees. On January 9, 2017, the Company’s shareholders, at general meeting of the Company’s shareholders, approved the extension of the exercise period of the warrants until March 7, 2018. On March 7,2018 the unlisted warrants expired.

On September 7, 2017, the Company sold to certain accredited investors an aggregate of 531,136 ADSs and 265,568 unregistered warrants to purchase 265,568 ADSs in a registered direct offering at $8.10 per ADS in which it raised gross proceeds of NIS 15,214, (NIS 13,970 net of all issuance costs, including share-based awards granted). An amount of NIS 11,695 out of the consideration related to the ADSs and classified as equity component, while an amount of NIS 2,481 related to the fair value of the warrants, calculate by the Black–Scholes model, to purchase ADSs and was classified as a liability. Issuance costs amounting to NIS 204 associated with the issuance of the warrants, have been recognized as finance expenses. The investor warrants were exercisable for one year from issuance and had an exercise price of $12.07 per ADS, subject to adjustment as set forth therein. The investor warrants were exercisable on a cashless basis if there were no effective registration statement registering the ADSs underlying the warrants. The Company paid approximately $140 in placement agent fees and expenses and issued unregistered placement agent warrants to purchase 7,492 ADSs on the same general terms as the investor warrants except they have an exercise price of $10.125 per ADS. On September 10, 2018 all the investor warrants and the placement agent warrants were expired.

Since the warrant exercise price is in US dollars, which is not the Company’s functional currency, the unregistered warrants to purchase ADS were classified as a financial liability at fair value and are marked to market through profit or loss.

The placement agent warrants were classified as a share-based payment transaction in accordance with IFRS 2 and netted off the total consideration as issuance cost.

On January 31, 2018, the Company sold to certain institutional investors an aggregate of 484,848 ADSs and 266,667 unregistered warrants to purchase 266,667 ADSs in a registered direct offering at $8.25 per ADS in which it raised gross proceeds of NIS 13,620 (NIS 11,865 net of all issuance costs in the amount of NIS 1,755, including share-based awards granted). An amount of NIS 10,024 out of the consideration related to the ADSs and classified as equity component, while an amount of NIS 2,113 related to the fair value of the warrants, calculate by the Black–Scholes model, to purchase ADSs and was classified as a liability. Issuance costs amounting to NIS 272 associated with the issuance of the warrants, have been recognized as finance expenses. The investor warrants may be exercised for one year from issuance and have an exercise price of $12.00 per ADS, subject to adjustment as set forth therein. The investor warrants may be exercised on a cashless basis if there is no effective registration statement registering the ADSs underlying the warrants. As part of the issuance costs, the Company paid approximately $323 in placement agent fees and expenses and issued unregistered placement agent warrants to purchase 24,242 ADSs on the same general terms as the investor warrants except they have an exercise price of $10.31 per ADS. On January 30, 2019 all the investor warrants and the placement agent warrants were expired.

The placement agent warrants were classified as a share-based payment transaction in accordance with IFRS 2 and was netted off the total consideration as issuance cost.

On February 12, 2019, the Company sold to certain institutional investors an aggregate of 1,889,000 units, each consisting of (i) one ADS, and (ii) one warrant to purchase one ADS, at a public offering price of $1.50 per unit ($7.5 after split), and (b) 2,444,650 pre-funded units, each consisting of (i) one prefunded warrant to purchase one ADS, and (ii) one warrant, at a public offering price of $1.49 per Pre-funded unit. In connection with the offering, the company granted the underwriters a 45-day option to purchase up to an additional 650,070 ADSs and/or 650,070 warrants to purchase up to an additional 650,070 ADSs. The underwriters partially exercised their over-allotment option to purchase an aggregate of 350,000 additional ADS and additional warrants to purchase 650,070 ADSs. Subsequently, of the pre-funded warrants issued, the company issued 2,444,650 ADSs upon exercise of pre-funded warrants. The company raised gross proceeds of NIS 25,422 (NIS 20,796 net of all issuance costs in the amount of NIS 4,626, including share-based awards granted). An amount of NIS 13,505 out of the consideration was related to the ADSs and classified as an equity component, while an amount of NIS 8,999 was related to the fair value of the non-tradable Warrants and was classified as a liability.

The underwriters’ unlisted warrants were classified as a share-based payment transaction in accordance with IFRS 2 and netted off the total consideration as issuance cost.

Furthermore, the Company issued to the underwriters unlisted warrants to purchase 109,642 ADSs at an exercise price of $1.5 per warrant ($7.5 after split) and exercisable for a period of five years. The underwriters’ unlisted warrants were classified as a share-based payment transaction in accordance with IFRS 2 and netted off the total consideration as issuance cost.

On May 12, 2020, the Company entered into warrant exercise agreements with several investors. Under the terms of the agreement, in consideration of exercising 534,160 of the warrants, the exercise price per warrants was reduced to $2.75 per ADS. The 534,160 of the warrants were exercised resulting in gross proceeds to the Company of NIS 5,204 (NIS 4,591 net of issuance costs in the amount of NIS 613).

In addition, the Company decided to reduce the exercise price of all warrants issued in February 2019, to $2.75 per ADS, from the original exercise price per ADS of $7.5.

The change in terms (i.e., reduction in the exercise price) of the warrants, classified as a financial liability, resulted in an increase in the fair value of the warrants in a total amount of NIS 3,672. This amount was recorded as finance expenses. The change in terms of the warrants classified as equity was not affecting the results of operations but rather treated as a classification within shareholders' equity.

On May 20, 2019, the board of directors approved a grant to a consultant of 672,264 warrants, exercisable for 672,264 ADSs of the Company at an exercise price of USD 0.01 per ADS. On January 31, 2020, the warrants were exercised.

On January 7, 2020, the Company sold to certain institutional investors an aggregate of 1,000,000 ADSs in a registered direct offering at a purchase price of $3 per ADS. The company raised gross proceeds of NIS 10,410 (NIS 9,194 net of all issuance costs in the amount of NIS 1,216).

Rights related to ordinary shares

All ordinary shares shall have equal rights and each ordinary share shall entitle the holder the following rights:

The right to receive notices of any general meeting of shareholders, to participate in meetings and vote on any matter raised in the meeting. Each ordinary share entitles its holder to one vote.

The right to participate in any distribution by the Company to its shareholders and receive dividends and / or bonus shares, if distributed in accordance with the Company articles of association.

The right to participate at the time of liquidation of the Company, in the distribution of the Company’s assets permitted to be distributed in proportion to the number of shares allocated and the degree of repayment by the shareholders, if not fully paid, and subject to the provisions of the articles of association of the Company and without prejudice to existing rights of shareholders of any kind.

Share-Based Compensation

12 Months Ended

Dec. 31, 2020

Disclosure of share-based payment arrangements [text block] [Abstract]

SHARE-BASED COMPENSATION

In February 2014, the Company’s board of directors adopted an Employee Shares Incentive Plan (the “2014 Plan”). Under the 2014 Plan, options may be granted to employees, officers, directors, consultants, advisers, and service providers of the Company.

On November 19, 2020, the board of directors approved an increase to the Company’s option pool of 21,500,000 options. As a result, the Company has a total of 58,600,000 options in the pool.

On November 8, 2020, the Company’s shareholders, at a general meeting of shareholders approved the CEO, the Chairman of the Board of directors and 4 directors terms of service, including a grant of options, which is an exception from the Company’s compensation policy, as further described below. The terms of service included among others, a grant of 15,636,800 options, exercisable for 15,636,800 ordinary shares, no par value, of the Company. The total benefit in respect of the grant calculated at the grant date was NIS 740.

Details on share-based payment for service providers:

	1.	On May 20, 2019, the board of directors approved to a consultant a grant of 672,264 warrants, exercisable for 672,264 ADSs of the Company at an exercise price of USD 0.01 per ADS. On January 31, 2020, the warrants were exercised.

	2.	On September 7, 2020, the board of directors approved to a consultant a grant of 2,000,000 options, exercisable for 2,000,000 shares (20,000 ADSs) of the Company at an exercise price of USD 0.03202 per share (=$3.202 per ADS).

Expense recognized in the financial statements:

The expense that was recognized for services received from employees, directors and service providers is as follows:

							Convenience translation (Note 2d)
	Year ended December 31,						Year ended December 31,
	2018		2019		2020		2020
		N I S						U.S. dollars

Research and development		807		513		286		89
General and administrative		3,730		2,195		452		141

Total share-based compensation		4,537		2,708		738		230

Activity during the year:

The table below includes the number of share options, and the weighted average of their exercise prices:

	2019					2020
	Number of options			Weighted Average Exercise price		Number of options			Weighted Average Exercise price
				NIS					NIS

Outstanding at beginning of year		13,014,147			1.18		22,093,504			0.59
Options exercised for shares		—			—		—			—
Options forfeited		(4,556,865	)		0.70		(617,572	)		1.25
Option Expired		(671,438	)		1.21		(1,990,305	)		1.14
Granted		14,307,660			0.12		29,409,600			0.09

Outstanding at end of year		22,093,504			0.59		48,895,227			0.30

The following table summarize information about the Company’s outstanding and exercisable options granted to employees and consultants as of December 31, 2020:

Exercise price (Range)		Options outstanding as of December 31, 2020		Weighted average remaining contractual term		Options exercisable as of December 31, 2020		Weighted average remaining contractual term
				(years)				(years)
	0.001 - 1.35		47,360,727		8.2		20,428,429		6.4
	1.35 - 1.8		1,390,500		4.1		1,342,875		4.0
	1.8 - 2.1		144,000		4.6		144,000		4.6
			48,895,227		8.1		21,915,304		6.3

Measuring the fair value of share options settled by equity instruments:

The Company measures the fair value of the options under the Black-Scholes model. Fair values were estimated using the following assumptions for the years ended December 31, 2019 and 2020, is as follows:

	2019			2020

Dividend yield (%)		0			0
Expected volatility of the share prices (%)		77.75	%		84.54%-87.53	%
Risk-free interest rate (%)		2.14	%		0.69%-1.85	%
Expected life of share options (years)		10			10

Based on the assumptions above, the fair value of options granted in the years 2020, 2019 was NIS 1,653,882, NIS 1,439,777 at the grant date, respectively.

The determination of the grant date fair value of options using an option pricing model (the Company utilizes the Black-Scholes model) is affected by estimates and assumptions regarding several complex and subjective variables. These variables include the expected volatility of the Company’s share price over the expected term of the options, share option exercise and cancellation behaviors, risk-free interest rates and expected dividends, which are estimated as follows:

The expected share price volatility is based on the historical volatility in the trading price of the Company’s ordinary shares as well as comparable companies on the benchmarks of related companies.

The expected term of options granted is based upon the contractual life of the options and represents the period that options granted are expected to be outstanding.

The risk-free interest rate is based on the yield from government bonds with a term equivalent to the contractual life of the options.

The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. Consequently, the Company uses an expected dividend yield of zero.

Taxes on Income

12 Months Ended

Dec. 31, 2020

Disclosure of income tax [text block] [Abstract]

TAXES ON INCOME

Corporate tax rates in Israel:

The Israeli corporate income tax rate was 23% in 2020 and 2019.

Cellect Biotech Inc, the U.S incorporated subsidiary is subject to a weighted tax rate of about 21% (Federal tax, State tax and city tax of the city where the company operates) and to the U.S. federal tax reform (Tax Cuts and Jobs Act of 2017).

Final tax assessments:

In 2018, the Company received final tax assessments for the years 2013-2016 following an audit of the income tax of ITA.

Net operating carry forwards losses for tax purposes and other temporary differences:

As of December 31, 2020, the Company had carried forward operating losses amounting to approximately NIS 99,883.

The Company did not recognize deferred tax assets for carry forward operating and capital losses and other temporary differences because their utilization in the foreseeable future is not probable.

Contingent Liabilities and Commitments

12 Months Ended

Dec. 31, 2020

Disclosure of commitments and contingent liabilities [text block] [Abstract]

CONTINGENT LIABILITIES AND COMMITMENTS

Commitments

On September 1, 2015, the Company signed a lease agreement for new offices. The aforementioned lease agreement is for a minimum period of three years from the date of signing the agreement. On October 15, 2020 the lease agreement was extended for two additional years until October 14, 2022.

The future minimum lease fees payable as of December 31, 2020 are NIS 368, NIS 376 for the years 2021 and 2022 respectively.

The Company has entered into operating lease agreements for vehicles. These leases have an average life of three years with no option to extend the contract. The Company has the right to terminate the agreement before the end of the three years and will be required to pay an early termination penalty of between one to three months of the lease.

The future minimum lease fees payable as of December 31, 2020 are NIS 45, NIS 26, NIS 7 for the years 2021, 2022 and 2023 respectively.

The Company participated in programs sponsored by the Israel-United States Binational Industrial Research and Development Foundation (BIRD) for the support of research and development activities. The Company is obligated to pay royalties to BIRD, amounting to 5% of the gross sales of the products and other related revenues developed from such activities, up to an amount of 150% from the grant received from BIRD by the Company indexed to the U.S. consumer price index.

As of December 31, 2018, the Company received an aggregate grant of $120 from the BIRD Foundation in support of the development and commercialization of the Company’s stem cell selection technology in collaboration with Entegris. The Company is no longer pursuing its collaboration with Entegris and does not expect to receive additional grants in the future.

Liens:

The Company provided a NIS 52 restricted bank deposit to secure credit card payments.

The Company provided a NIS 164 restricted bank deposit to secure the rent payment.

Balances and Transactions with Related Parties

12 Months Ended

Dec. 31, 2020

Disclosure of related party [text block] [Abstract]

BALANCES AND TRANSACTIONS WITH RELATED PARTIES

Related party balances

									Convenience translation (Note 2d)
	December 31								Year ended December 31,
	2019				2020				2020
	Key management personnel		Other related parties		Key management personnel		Other related parties		Key management personnel		Other related parties
	NIS								U.S. Dollars

Other payables		415		108		542		—		169		—

		415		108		542		—		169		—

The other payables include annual gross salaries, compensation, share based payment and accrued vacation.

The directors and senior managers of the Company are entitled, in addition to salary, to non-cash benefits (such as a car, medical insurance, etc.).

Benefits for employment of key management personnel (including directors) employed in the Company:

Convenience translation
(Note 2d)

Year ended December 31,

Year ended
December 31,

2018

2019

2020

No. of
people

Amount
NIS

No. of
people

Amount
NIS

No. of
people

Amount
NIS

Amount
U.S. dollars

Short-term employee benefits

8,790

5,190

3,432

1,067

Benefits for employment of key management personnel (including directors) that are not employed in the Company:

													Convenience translation (Note 2d)
	Year ended December 31,												Year ended December 31,
	2018				2019				2020				2020
	No. of people		Amount NIS		No. of people		Amount NIS		No. of people		Amount NIS		Amount U.S. dollars

Directors’ fees		7		1,027		7		636		5		2,003		623
		7		1,027		7		636		5		2,003		623

Transactions with related parties:

											Convenience translation (Note 2d)
	Year ended December 31,										Year ended December 31,
	2018			2019			2020				2020
		Key management personnel	Related parties		Key management personnel	Related parties		Key management personnel	Related parties			Key management personnel	Related parties

Research and development expenses		2,107	913		1,326	—		1,328	—			413	—
General and administrative expenses		2,254	3,517		2,560	1,304		2,280	(177	)		709	(55	)
		4,361	4,430		3,886	1,304		3,609	(177	)		1,122	(55	)

The transactions with related parties include annual gross salaries, compensation and share based payment.

Subsequent Events

12 Months Ended

Dec. 31, 2020

Disclosure of events after reporting period [text block] [Abstract]

SUBSEQUENT EVENTS

On March 24, 2021 the Company announced that its Board of Directors approved a definitive Merger Agreement (the “Agreement”) with Quoin, a pharmaceutical company focused on rare and orphan diseases.

Under the terms of the Agreement, Cellect shareholders will retain approximately 25% of the combined shares before Altium Capital investment (described below) while the shareholders of Quoin will receive shares of Cellect common stock representing approximately 75% of the pre-investment number of shares. In connection with the merger, Quoin has secured $25 million in committed equity funding from Altium Capital, a highly regarded institutional healthcare investor. The merger agreement, the Purchase Agreement, and the Investor Warrants provide for certain dilution protections for the pre-closing Cellect shareholders in connection with such equity financing.

The Company has also signed an agreement to sell the entire share capital of its subsidiary company, Cellect Biotherapeutics LTD. (the “Subsidiary”), which will retain all of its existing assets, to EnCellX Inc., a newly formed U.S. privately held company based in San Diego, CA (the “Share Transfer”). The Share Transfer is intended to close concurrently with the closing of the Cellect and Quoin merger. In consideration for the Share Transfer, the pre-closing Cellect shareholders will receive a contingent value right (“CVR”) entitling the holders to earnouts comprised of payments upon sale, milestone payments, license fees and exit fees.

In addition, the Share Transfer Agreement further provides for a bonus payment by the Company to Dr. Shai Yarkoni, for his contribution to the contemplated transaction and to the continued success of EnCellX, in an amount equal to the consideration that he would have received, had he been issued 40% of EnCellX share capital on a fully diluted basis, upon incorporation of EnCellX. Any dividend payments on account of such shares, or consideration received upon their sale, shall be paid by the Company solely to Dr. Yarkoni and not to any other shareholder of the Company. In order to secure such right, shares constituting 40% of EnCellX share capital shall be held in escrow by Altshuler Shaham Trusts Ltd.

Also included in the Share Transfer consideration is a provision stating that, if EnCellX fails to raise at least $3.0 million within 12 months of the closing of the Share Transfer in order to continue development of the technology, then EnCellX must engage an investment bank and initiate the process of the sale of the Subsidiary or its assets, with the net proceeds of such transaction payable to the Company within 15 business days of such receipt. The Share Transfer consideration will include the net proceeds of any such sale.

Completion of the merger is subject to approval of Cellect and Quoin shareholders and certain other conditions and is expected to close by the end of the second quarter of 2021.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Disclosure of significant accounting policies [text block] [Abstract]

Basis of presentation of the financial statements

Consolidated financial statements

Functional currency and reporting currency

Functional currency and reporting currency:

The presentation currency of the financial statements is the New Israeli Shekel (“NIS”).

Transactions, assets and liabilities in foreign currency:

Convenience translation into U.S. dollars

Cash and Cash equivalents

Restricted cash

Restricted cash is primarily invested to secure credit card payments and is used as security for the Company’s lease commitment.

Taxes on income

Current or deferred taxes are recognized in profit or loss, except to the extent that they relate to items which are recognized in other comprehensive income or equity.

Current taxes

Deferred taxes

Deferred taxes are computed in respect of temporary differences between the carrying amounts in the financial statements and the amounts attributed for tax purposes.

Property, plant, and equipment

Property, plant, and equipment are measured at cost, including directly attributable costs, less accumulated depreciation.

Depreciation is calculated on a straight-line basis over the useful life of the assets at annual rates as follows:

	%
Computers and Electronic Equipment		33
Laboratory and clinical experiments equipment		15
Leasehold improvements		(*)
Office furniture and equipment		7 - 15

(*)

Leasehold improvements are depreciated on a straight-line basis over the earlier of the lease term or the estimated useful life of the improvement.

Depreciation of an asset ceases at the earlier of the date that the asset is classified as held for sale and the date that the asset is derecognized.

Research and development expenses

Government grants

Impairment of non-financial assets

The Company evaluates the need to record an impairment of non-financial assets whenever events or changes in circumstances indicate that the carrying amount is not recoverable.

The Company did not recognize any impairment of non-financial assets for any of the periods presented.

Financial instruments

Effective January 1, 2019, the Company adopted IFRS 9 “Financial Instruments.”

Financial Assets

Classification:

The financial assets of the Company are classified into the following two categories:

Financial assets at amortized costs:

The Company’s financial assets at amortized cost are included in other receivables and bank deposits in the consolidated statements of financial position.

Financial assets at fair value through profit or loss:

Recognition and measurement

Impairment

Financial Liabilities:

Financial liabilities at fair value through profit or loss

Trade payables and financial liabilities included in “other liabilities” are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method.

Fair value measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Level 1	-	quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2	-	inputs other than quoted prices included within Level 1 that are observable directly or indirectly.

Level 3	-	inputs that are not based on observable market data (valuation techniques which use inputs that are not based on observable market data).

The following table presents the Quantitative disclosures of the fair value measurement hierarchy for the Group’s liabilities.

	December 31, 2020
		Fair value measurements using input type
		Level 1		Level 2		Total

Financial liabilities related to Warrants to ADS		(109	)	(1,113	)	(1,222	)

	December 31, 2019
		Fair value measurements using input type
		Level 1		Level 2		Total

Financial liabilities related to Warrants to ADS		(134	)	(2,038	)	(2,172	)

Treasury shares

Employee benefit liabilities

The Group has several employees’ benefits plans:

Short-term employment benefits:

Post-employment benefits:

Post- employment benefit plans are normally funded by contributions to insurance companies and are classified as defined contribution plans.

Contributions to the defined contribution plan in respect of severance or retirement pay are recognized as an expense when contributed concurrently with performance of the employee’s services.

Share-based payament transactions

Equity-settled transactions:

As for other service providers, the cost of the transactions is measured at the fair value of the goods or services received as consideration for equity instruments granted.

Loss per share

Loss per share is calculated by dividing the net loss attributable to Company shareholders by the weighted number of outstanding ordinary shares during the period.

Leases

In applying IFRS 16 for the first time, the Company used the following practical expedient permitted by the standard:

Appling a single discount rate to a portfolio of leases with reasonably similar characteristics;

Accounting for operating leases with a remaining lease term of less than 12 months as of January 1, 2019, as short-term leases;

The company re-measures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever:

Right-of-use assets are measured at cost, being the amount of the initial measurement of the lease liability and are subsequently measured at cost less accumulated depreciation and impairment losses.

The company applies IAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss as described in the ‘Property, Plant and Equipment’ policy.

Estimates and assumptions:

●

Determining the fair value of share-based transactions

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of significant accounting policies [text block] [Abstract]

Schedule of straight-line basis over the useful life of the assets at annual rates

	%
Computers and Electronic Equipment		33
Laboratory and clinical experiments equipment		15
Leasehold improvements		(*)
Office furniture and equipment		7 - 15

Schedule of fair value measurement hierarchy

	December 31, 2020
		Fair value measurements using input type
		Level 1		Level 2		Total

Financial liabilities related to Warrants to ADS		(109	)	(1,113	)	(1,222	)

	December 31, 2019
		Fair value measurements using input type
		Level 1		Level 2		Total

Financial liabilities related to Warrants to ADS		(134	)	(2,038	)	(2,172	)

Other Receivables (Tables)

12 Months Ended

Dec. 31, 2020

Trade and other receivables [abstract]

Schedule of other receivables

					Convenience
					translation (Note 2d)
	December 31,				December 31,
	2019		2020		2020
		N I S				U.S. dollars

Other receivables		9		15		5
Government authorities		258		56		17
Prepaid expenses		202		213		66
		469		284		88

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Lease liabilities [abstract]

Schedule of Right-of-use assets

	Offices			Vehicles		Total
*Cost*
Balance as of January 1, 2020		1,317			151		1,468
Deductions during the year		(17	)		—		(17	)
Additions during the year		—			56		56

Balance as of December 31, 2020		1,300			207		1,507

*Accumulated Depreciation*

Balance as of January 1, 2020		329			104		433
Additions during the year		336			33		369
		665			137		802

Balance as of December 31, 2020		635			70		705

Balance as of December 31, 2020 (convenience translation into U.S. dollars (Note 2d))		198			21		219

Balance as of December 31, 2019:

	Offices		Vehicles			Total
*Cost*
Balance as of January 1, 2019		1,317		297			1,614
Deductions during the year		—		(146	)		(146	)

Balance as of December 31, 2019		1,317		151			1,468

*Accumulated Depreciation*

Balance as of January 1, 2019		—		—			—
Additions during the year		329		104			433
		329		104			433

Balance as of December 31, 2019		988		47			1,035

Balance as of December 31, 2019 (convenience translation into U.S. dollars (Note 2d))		286		13			299

Schedule of impact on the comprehensive loss for the year

					Convenience
					translation (Note 2d)
	December 31,				December 31,
	2019		2020		2020
	NIS				U.S. dollars

Interest expenses on lease liabilities		128		88		27
Expense relating to short-term leases		196		—		—
Depreciation of right-of-use asset		433		369		115

		757		457		142

Schedule of lease liabilities

					Convenience
					translation (Note 2d)
	December 31,				December 31,
	2019		2020		2020
		N I S				U.S. dollars

Current		396		369		115
Non-current		677		391		121

Total lease liabilities		1,073		760		236

Schedule of maturity analysis of lease liabilities

					Convenience
					translation (Note 2d)
	December 31,				December 31,
	2019		2020		2020
		N I S				U.S. dollars

Year 1		435		413		129
Year 2		413		402		125
Year 3		320		7		2
Year 4		6		—		—

Total undiscounted cash payments		1,174		822		256

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2020

Property, plant and equipment [abstract]

Schedule of property, plant and equipment, net

Balance as of December 31, 2020

	Laboratory equipment			Leasehold improvements		Office furniture and equipment			Computers			Total
*Cost*
Balance as of January 1, 2020		1,885			396		219			369			2,869
Additions during the year		313			—		—			16			329
Deductions during the year		(78	)		—		(1	)		(17	)		(96	)

Balance as of December 31, 2020		2,120			396		218			368			3,102

*Accumulated Depreciation*

Balance as of January 1, 2020		816			381		65			319			1,581
Additions during the year:		288			7		21			34			350
Deductions during the year		(48	)		—		(*)			(13	)		(61	)

Balance as of December 31, 2020		1,056			388		86			340			1,870

Depreciated cost as of December 31, 2020		1,064			8		132			28			1,232

Depreciated cost as of December 31, 2020 (convenience translation into U.S. dollars (Note 2d))		332			2		41			9			384

Balance as of December 31, 2019:

	Laboratory equipment		Leasehold improvements		Office furniture and equipment			Computers			Total
*Cost*
Balance as of January 1, 2019		1,777		396		220			359			2,752
Additions during the year		108		—		—			15			123
Deductions during the year		—		—		(1	)		(5	)		(6	)

Balance as of December 31, 2019		1,885		396		219			369			2,869

*Accumulated Depreciation*

Balance as of January 1, 2019		536		366		45			261			1,208
Additions during the year:		280		15		20			61			376
Deductions during the year		—		—		(*)			(3	)		(3	)

Balance as of December 31, 2019		816		381		65			319			1,581

Depreciated cost as of December 31, 2019		1,069		15		154			50			1,288

Other Payables (Tables)

12 Months Ended

Dec. 31, 2020

Trade and other payables [abstract]

Schedule of other payables

					Convenience
					translation (Note 2d)
	December 31,				December 31,
	2019		2020		2020
		N I S				U.S. dollars

Employees and payroll accruals (*)		877		810		252
Accrued expenses		2,025		1,391		432
Other		178		27		9

		3,080		2,228		693

Equity (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of classes of share capital [abstract]

Schedule of changes in share capital

	Number of
	Shares (issued and outstanding)

Balance as of January 1, 2019		(*) 130,414,799

Issuance of shares and warrants (see Note 9.4)		93,673,000

Balance as of December 31, 2019		(*) 224,087,799

Issuance of shares (see Note 8.5)		100,000,000

Exercise of warrants (see Note 9.4 and 9.6)		66,861,280

Balance as of December 31, 2020		(*) 390,949,079

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of share-based payment arrangements [text block] [Abstract]

Schedule of services received from employees, directors and service providers

							Convenience translation (Note 2d)
	Year ended December 31,						Year ended December 31,
	2018		2019		2020		2020
		N I S						U.S. dollars

Research and development		807		513		286		89
General and administrative		3,730		2,195		452		141

Total share-based compensation		4,537		2,708		738		230

Schedule of number of share options and weighted average exercise prices

	2019					2020
	Number of options			Weighted Average Exercise price		Number of options			Weighted Average Exercise price
				NIS					NIS

Outstanding at beginning of year		13,014,147			1.18		22,093,504			0.59
Options exercised for shares		—			—		—			—
Options forfeited		(4,556,865	)		0.70		(617,572	)		1.25
Option Expired		(671,438	)		1.21		(1,990,305	)		1.14
Granted		14,307,660			0.12		29,409,600			0.09

Outstanding at end of year		22,093,504			0.59		48,895,227			0.30

Schedule of outstanding and exercisable options granted to employees and consultants

Exercise price (Range)		Options outstanding as of December 31, 2020		Weighted average remaining contractual term		Options exercisable as of December 31, 2020		Weighted average remaining contractual term
				(years)				(years)
	0.001 - 1.35		47,360,727		8.2		20,428,429		6.4
	1.35 - 1.8		1,390,500		4.1		1,342,875		4.0
	1.8 - 2.1		144,000		4.6		144,000		4.6
			48,895,227		8.1		21,915,304		6.3

Schedule of outstanding and exercisable options granted to employees and consultants

	2019			2020

Dividend yield (%)		0			0
Expected volatility of the share prices (%)		77.75	%		84.54%-87.53	%
Risk-free interest rate (%)		2.14	%		0.69%-1.85	%
Expected life of share options (years)		10			10

Balances and Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure of related party [text block] [Abstract]

Schedule of related party balances

									Convenience translation (Note 2d)
	December 31								Year ended December 31,
	2019				2020				2020
	Key management personnel		Other related parties		Key management personnel		Other related parties		Key management personnel		Other related parties
	NIS								U.S. Dollars

Other payables		415		108		542		—		169		—

		415		108		542		—		169		—

Schedule of benefits for employment of key management personnel (including directors) employed

Convenience translation
(Note 2d)

Year ended December 31,

Year ended
December 31,

2018

2019

2020

No. of
people

Amount
NIS

No. of
people

Amount
NIS

No. of
people

Amount
NIS

Amount
U.S. dollars

Short-term employee benefits

8,790

5,190

3,432

1,067

Schedule of benefits for employment of key management personnel (including directors) not employed

													Convenience translation (Note 2d)
	Year ended December 31,												Year ended December 31,
	2018				2019				2020				2020
	No. of people		Amount NIS		No. of people		Amount NIS		No. of people		Amount NIS		Amount U.S. dollars

Directors’ fees		7		1,027		7		636		5		2,003		623
		7		1,027		7		636		5		2,003		623

Schedule of transactions with related parties

											Convenience translation (Note 2d)
	Year ended December 31,										Year ended December 31,
	2018			2019			2020				2020
		Key management personnel	Related parties		Key management personnel	Related parties		Key management personnel	Related parties			Key management personnel	Related parties

Research and development expenses		2,107	913		1,326	—		1,328	—			413	—
General and administrative expenses		2,254	3,517		2,560	1,304		2,280	(177	)		709	(55	)
		4,361	4,430		3,886	1,304		3,609	(177	)		1,122	(55	)

General (Details Narrative) ₪ in Thousands, $ in Thousands	12 Months Ended
General (Details Narrative) ₪ in Thousands, $ in Thousands	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)	Dec. 31, 2018 ILS (₪)	Dec. 31, 2020 USD ($)
Statement Line Items [Line Items]
Net loss \| ₪	₪ (18,077)		₪ (16,808)	₪ (20,113)
Cash flows from (used in) operating activities \| ₪	(15,486)		(20,337)	₪ (23,635)
Retained earnings \| ₪	₪ (118,941)		₪ (100,864)
U.S. Dollars
Statement Line Items [Line Items]
Net loss \| $		$ (5,623)
Cash flows from (used in) operating activities \| $		$ (4,816)
Retained earnings \| $					$ (36,996)

- Definition

The total of income less expenses from continuing and discontinued operations, excluding the components of other comprehensive income. [Refer: Other comprehensive income]

+ References

+ Details

Significant Accounting Policies (Details)

12 Months Ended

Dec. 31, 2020

Computer Equipment

Significant Accounting Policies (Details) - Schedule of straight-line basis over the useful life of the assets at annual rates [Line Items]

Property, plant and equipment, depreciation annual rates

33.00%

Laboratory Equipment

Significant Accounting Policies (Details) - Schedule of straight-line basis over the useful life of the assets at annual rates [Line Items]

Property, plant and equipment, depreciation annual rates

15.00%

Leasehold Improvements

Significant Accounting Policies (Details) - Schedule of straight-line basis over the useful life of the assets at annual rates [Line Items]

Property, plant and equipment, depreciation annual rates

0.00%

^[1]

Office Equipment | Bottom of Range

Significant Accounting Policies (Details) - Schedule of straight-line basis over the useful life of the assets at annual rates [Line Items]

Property, plant and equipment, depreciation annual rates

7.00%

Office Equipment | Top of Range

Significant Accounting Policies (Details) - Schedule of straight-line basis over the useful life of the assets at annual rates [Line Items]

Property, plant and equipment, depreciation annual rates

15.00%

[1]	Leasehold improvements are depreciated on a straight-line basis over the earlier of the lease term or the estimated useful life of the improvement.

Significant Accounting Policies (Details 1) - ILS (₪) ₪ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Significant Accounting Policies (Details) - Schedule of fair value measurement hierarchy [Line Items]
Financial liabilities related to Warrants to ADS	₪ (1,222)	₪ (2,172)
Level 1
Significant Accounting Policies (Details) - Schedule of fair value measurement hierarchy [Line Items]
Financial liabilities related to Warrants to ADS	(109)	(134)
Level 2
Significant Accounting Policies (Details) - Schedule of fair value measurement hierarchy [Line Items]
Financial liabilities related to Warrants to ADS	₪ (1,113)	₪ (2,038)

Significant Accounting Policies (Details Narrative)	12 Months Ended
Significant Accounting Policies (Details Narrative)	Dec. 31, 2020
Significant Accounting Policies
Exchange rate	3.215

Other Receivables (Details) ₪ in Thousands, $ in Thousands	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)
Statement Line Items [Line Items]
Other receivables \| ₪	₪ 15		₪ 9
Government authorities \| ₪	56		258
Prepaid expenses \| ₪	213		202
Total other receivables \| ₪	₪ 284		₪ 469
U.S. Dollars
Statement Line Items [Line Items]
Other receivables \| $		$ 5
Government authorities \| $		17
Prepaid expenses \| $		66
Total other receivables \| $		$ 88

Leases (Details) ₪ in Thousands, $ in Thousands	12 Months Ended
Leases (Details) ₪ in Thousands, $ in Thousands	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)	Dec. 31, 2019 USD ($)
Cost
Balance	₪ 1,468		₪ 1,614
Deductions during the year	(17)		(146)
Additions during the year	56
Balance	1,507		1,468
Accumulated Depreciation
Balance	1,035		0
Additions during the year	369		433
Total	802		433
Balance	705		1,035
Balance as of December 31, 2020 and 2019 (convenience translation into U.S. dollars (Note 2d)) \| $		$ 219		$ 299
Offices
Cost
Balance	1,317		1,317
Deductions during the year	(17)		0
Additions during the year	0
Balance	1,300		1,317
Accumulated Depreciation
Balance	988		0
Additions during the year	336		329
Total	665		329
Balance	635		988
Balance as of December 31, 2020 and 2019 (convenience translation into U.S. dollars (Note 2d)) \| $		198		286
Vehicles
Cost
Balance	151		297
Deductions during the year	0		(146)
Additions during the year	56
Balance	207		151
Accumulated Depreciation
Balance	47		0
Additions during the year	33		104
Total	137		104
Balance	₪ 70		₪ 47
Balance as of December 31, 2020 and 2019 (convenience translation into U.S. dollars (Note 2d)) \| $		$ 21		$ 13

Leases (Details 1) ₪ in Thousands, $ in Thousands	12 Months Ended
Leases (Details 1) ₪ in Thousands, $ in Thousands	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)
Statement Line Items [Line Items]
Interest expenses on lease liabilities \| ₪	₪ 88		₪ 128
Expense relating to short-term leases \| ₪	0		196
Depreciation of right-of-use asset \| ₪	369		433
Total \| ₪	₪ 457		₪ 757
U.S. Dollars
Statement Line Items [Line Items]
Interest expenses on lease liabilities \| $		$ 27
Expense relating to short-term leases \| $		0
Depreciation of right-of-use asset \| $		115
Total \| $		$ 142

Leases (Details 2) ₪ in Thousands, $ in Thousands	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)
Statement Line Items [Line Items]
Current \| ₪	₪ 369		₪ 396
Non-current \| ₪	391		677
Total lease liabilities \| ₪	₪ 760		₪ 1,073
U.S. Dollars
Statement Line Items [Line Items]
Current \| $		$ 115
Non-current \| $		121
Total lease liabilities \| $		$ 236

Leases (Details 3) ₪ in Thousands, $ in Thousands	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)
Leases (Details) - Schedule of maturity analysis of lease liabilities [Line Items]
Total undiscounted cash payments \| ₪			₪ 1,174
U.S. Dollars
Leases (Details) - Schedule of maturity analysis of lease liabilities [Line Items]
Total undiscounted cash payments \| $		$ 256
Year 1
Leases (Details) - Schedule of maturity analysis of lease liabilities [Line Items]
Total undiscounted cash payments \| ₪	₪ 413		435
Year 1 \| U.S. Dollars
Leases (Details) - Schedule of maturity analysis of lease liabilities [Line Items]
Total undiscounted cash payments \| $		129
Year 2
Leases (Details) - Schedule of maturity analysis of lease liabilities [Line Items]
Total undiscounted cash payments \| ₪	402		413
Year 2 \| U.S. Dollars
Leases (Details) - Schedule of maturity analysis of lease liabilities [Line Items]
Total undiscounted cash payments \| $		125
Year 3
Leases (Details) - Schedule of maturity analysis of lease liabilities [Line Items]
Total undiscounted cash payments \| ₪	7		320
Year 3 \| U.S. Dollars
Leases (Details) - Schedule of maturity analysis of lease liabilities [Line Items]
Total undiscounted cash payments \| $		2
Year 4
Leases (Details) - Schedule of maturity analysis of lease liabilities [Line Items]
Total undiscounted cash payments \| ₪	₪ 0		₪ 6
Year 4 \| U.S. Dollars
Leases (Details) - Schedule of maturity analysis of lease liabilities [Line Items]
Total undiscounted cash payments \| $		$ 0

Leases (Details Narrative)	12 Months Ended
Leases (Details Narrative)	Dec. 31, 2020
Lease liabilities [abstract]
Average lease term	3 years

Property, Plant and Equipment, Net (Details) - ILS (₪) ₪ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cost
Cost, Beginning Balance	₪ 2,869	₪ 2,752
Additions during the year	329	123
Deductions during the year	(96)	(6)
Cost, Ending Balance	3,102	2,869
Accumulated Depreciation
Accumulated Depreciation, Beginning Balance	1,581	1,208
Additions during the year:	350	376
Deductions during the year	(61)	(3)
Accumulated Depreciation, Ending Balance	1,870	1,581
Depreciated cost	1,232	1,288
Depreciated cost (convenience translation into U.S. dollars (Note 2d))	384
Laboratory Equipment
Cost
Cost, Beginning Balance	1,885	1,777
Additions during the year	313	108
Deductions during the year	(78)	0
Cost, Ending Balance	2,120	1,885
Accumulated Depreciation
Accumulated Depreciation, Beginning Balance	816	536
Additions during the year:	288	280
Deductions during the year	(48)	0
Accumulated Depreciation, Ending Balance	1,056	816
Depreciated cost	1,064	1,069
Depreciated cost (convenience translation into U.S. dollars (Note 2d))	332
Leasehold Improvements
Cost
Cost, Beginning Balance	396	396
Additions during the year	0	0
Deductions during the year	0	0
Cost, Ending Balance	396	396
Accumulated Depreciation
Accumulated Depreciation, Beginning Balance	381	366
Additions during the year:	7	15
Deductions during the year	0	0
Accumulated Depreciation, Ending Balance	388	381
Depreciated cost	8	15
Depreciated cost (convenience translation into U.S. dollars (Note 2d))	2
Office Furniture And Equipment
Cost
Cost, Beginning Balance	219	220
Additions during the year	0	0
Deductions during the year	(1)	(1)
Cost, Ending Balance	218	219
Accumulated Depreciation
Accumulated Depreciation, Beginning Balance	65	45
Additions during the year:	21	20
Deductions during the year	0	0
Accumulated Depreciation, Ending Balance	86	65
Depreciated cost	132	154
Depreciated cost (convenience translation into U.S. dollars (Note 2d))	41
Computer
Cost
Cost, Beginning Balance	369	359
Additions during the year	16	15
Deductions during the year	(17)	(5)
Cost, Ending Balance	368	369
Accumulated Depreciation
Accumulated Depreciation, Beginning Balance	319	261
Additions during the year:	34	61
Deductions during the year	(13)	(3)
Accumulated Depreciation, Ending Balance	340	319
Depreciated cost	28	₪ 50
Depreciated cost (convenience translation into U.S. dollars (Note 2d))	₪ 9

Other Payables (Details)
₪ in Thousands, $ in Thousands

Dec. 31, 2020

ILS (₪)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

ILS (₪)

Statement Line Items [Line Items]

Employees and payroll accruals

^[1]

$ 810

₪ 877

Accrued expenses

₪ 1,391

2,025

Other

$ 27

178

Other payables

2,228

₪ 3,080

U.S. Dollars

Statement Line Items [Line Items]

Employees and payroll accruals

^[1]

252

Accrued expenses

432

Other

Other payables

₪ 693

[1]	Balance includes related parties (The Companys CEO and the Chairman of the Board of Directors).

Equity (Details) - shares

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Disclosure of classes of share capital [abstract]

Balance

^[1]

224,087,799

130,414,799

Issuance of shares and warrants

93,673,000

Issuance of shares

100,000,000

Exercise of warrants

66,861,280

Balance

^[1]

390,949,079

224,087,799

[1]	Net of 2,641,693 treasury shares of the Company, held by the Company.

Share-Based Compensation (Details) ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)	Dec. 31, 2018 ILS (₪)
Share-Based Compensation (Details) - Schedule of services received from employees, directors and service providers [Line Items]
Total share-based compensation \| ₪	₪ 738		₪ 2,708	₪ 4,537
U.S. Dollars
Share-Based Compensation (Details) - Schedule of services received from employees, directors and service providers [Line Items]
Total share-based compensation \| $		$ 229
Employees Directors and Service Providers
Share-Based Compensation (Details) - Schedule of services received from employees, directors and service providers [Line Items]
Total share-based compensation \| ₪			2,708	4,537
Employees Directors and Service Providers \| U.S. Dollars
Share-Based Compensation (Details) - Schedule of services received from employees, directors and service providers [Line Items]
Total share-based compensation \| $		230
Research and Development \| Employees Directors and Service Providers
Share-Based Compensation (Details) - Schedule of services received from employees, directors and service providers [Line Items]
Total share-based compensation \| ₪	286		513	807
Research and Development \| Employees Directors and Service Providers \| U.S. Dollars
Share-Based Compensation (Details) - Schedule of services received from employees, directors and service providers [Line Items]
Total share-based compensation \| $		141
General and Administrative \| Employees Directors and Service Providers
Share-Based Compensation (Details) - Schedule of services received from employees, directors and service providers [Line Items]
Total share-based compensation \| ₪	₪ 452		₪ 2,195	₪ 3,730
General and Administrative \| Employees Directors and Service Providers \| U.S. Dollars
Share-Based Compensation (Details) - Schedule of services received from employees, directors and service providers [Line Items]
Total share-based compensation \| $		$ 89

Share-Based Compensation (Details 1) - OptionsMember - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-Based Compensation (Details) - Schedule of number of share options and weighted average exercise prices [Line Items]
Number of options, Outstanding at beginning of year	22,093,504	13,014,147
Weighted Average Exercise price, Outstanding at beginning of year	$ 0.59	$ 1.18
Number of options, Options exercised for shares
Weighted Average Exercise price, Options exercised for shares
Number of options, Options forfeited	(617,572)	(4,556,865)
Weighted Average Exercise price, Options forfeited	$ 1.25	$ 0.70
Number of options, Option Expired	(1,990,305)	(671,438)
Weighted Average Exercise price, Option Expired	$ 1.14	$ 1.21
Number of options, Granted	29,409,600	14,307,660
Weighted Average Exercise price, Granted	$ 0.09	$ 0.12
Number of options, Outstanding at end of year	48,895,227	22,093,504
Weighted Average Exercise price, Outstanding at end of year	$ 0.30	$ 0.59

Share-Based Compensation (Details 2)	12 Months Ended
Share-Based Compensation (Details 2)	Dec. 31, 2020 shares $ / shares	Dec. 31, 2019 shares $ / shares
Statement Line Items [Line Items]
Options, outstanding \| shares	48,895,227	21,915,304
Weighted average remaining contractual term	8 years 1 month 6 days	6 years 3 months 18 days
Stock Option 1
Statement Line Items [Line Items]
Options, outstanding \| shares	47,360,727	20,428,429
Weighted average remaining contractual term	8 years 2 months 12 days	6 years 4 months 24 days
Stock Option 1 \| Bottom of Range
Statement Line Items [Line Items]
Exercise price	$ .001	$ .001
Stock Option 1 \| Top of Range
Statement Line Items [Line Items]
Exercise price	$ 1.35	$ 1.35
Stock Option 2
Statement Line Items [Line Items]
Options, outstanding \| shares	1,390,500	1,342,875
Weighted average remaining contractual term	4 years 1 month 6 days	4 years
Stock Option 2 \| Bottom of Range
Statement Line Items [Line Items]
Exercise price	$ 1.35	$ 1.35
Stock Option 2 \| Top of Range
Statement Line Items [Line Items]
Exercise price	$ 1.8	$ 1.8
Stock Option 3
Statement Line Items [Line Items]
Options, outstanding \| shares	144,000	144,000
Weighted average remaining contractual term	4 years 7 months 6 days	4 years 7 months 6 days
Stock Option 3 \| Bottom of Range
Statement Line Items [Line Items]
Exercise price	$ 1.8	$ 1.8
Stock Option 3 \| Top of Range
Statement Line Items [Line Items]
Exercise price	$ 2.1	$ 2.1

Share-Based Compensation (Details 3) - yr	12 Months Ended
Share-Based Compensation (Details 3) - yr	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Expected dividend yield	0.00%	0.00%
Expected volatility of the share prices		77.75%
Risk-free interest rate		2.14%
Expected life of share options in years		10
Bottom of Range
Statement Line Items [Line Items]
Expected volatility of the share prices	84.54%
Risk-free interest rate	0.69%
Expected life of share options in years	10
Top of Range
Statement Line Items [Line Items]
Expected volatility of the share prices	87.53%
Risk-free interest rate	1.85%

Share-Based Compensation (Details Narrative) - ILS (₪) ₪ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation
Fair value of options granted	₪ 1,653,882	₪ 1,439,777

Taxes on Income (Details) - ILS (₪) ₪ in Thousands	12 Months Ended
Taxes on Income (Details) - ILS (₪) ₪ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Disclosure of income tax [text block] [Abstract]
Israeli corporate income tax rate	23.00%	23.00%
Weighted tax rate	21.00%
Carryforward operating losses (in New Shekels)	₪ 99,883

Contingent Liabilities and Commitments (Details) ₪ in Thousands	Dec. 31, 2020 ILS (₪)
Contingent Liabilities and Commitments (Details) [Line Items]
Restricted bank deposit to secure credit card payments	₪ 52
Restricted bank deposit to secure the rent payment	164
Vehicles
Contingent Liabilities and Commitments (Details) [Line Items]
Future minimum lease fees payable 2021	45
Future minimum lease fees payable 2022	26
Future minimum lease fees payable 2023	7
New Offices
Contingent Liabilities and Commitments (Details) [Line Items]
Future minimum lease fees payable 2021	368
Future minimum lease fees payable 2022	₪ 376

Balances and Transactions with Related Parties (Details) ₪ in Thousands, $ in Thousands	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)
Key management personnel of entity or parent
Balances and Transactions with Related Parties (Details) - Schedule of related party balances [Line Items]
Other payables \| ₪	₪ 542		₪ 415
Total \| ₪	542		415
Key management personnel of entity or parent \| U.S. Dollars
Balances and Transactions with Related Parties (Details) - Schedule of related party balances [Line Items]
Other payables \| $		$ 169
Total \| $		169
Other related parties
Balances and Transactions with Related Parties (Details) - Schedule of related party balances [Line Items]
Other payables \| ₪			108
Total \| ₪	₪ 0		₪ 108
Other related parties \| U.S. Dollars
Balances and Transactions with Related Parties (Details) - Schedule of related party balances [Line Items]
Other payables \| $		0
Total \| $		$ 0

Balances and Transactions with Related Parties (Details 1) ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)	Dec. 31, 2018 ILS (₪)
Statement Line Items [Line Items]
Number of people	4	4	4	8
Short-term employee benefits \| ₪	₪ 3,432		₪ 5,190	₪ 8,790
U.S. Dollars
Statement Line Items [Line Items]
Short-term employee benefits \| $		$ 1,067

Balances and Transactions with Related Parties (Details 2) ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)	Dec. 31, 2018 ILS (₪)
Balances and Transactions with Related Parties (Details) - Schedule of benefits for employment of key management personnel (including directors) not employed [Line Items]
No. of people	5	5	7	7
Amount \| ₪	₪ 2,003		₪ 636	₪ 1,027
U.S. Dollars
Balances and Transactions with Related Parties (Details) - Schedule of benefits for employment of key management personnel (including directors) not employed [Line Items]
Amount \| $		$ 623
Directors Fees
Balances and Transactions with Related Parties (Details) - Schedule of benefits for employment of key management personnel (including directors) not employed [Line Items]
No. of people	5	5	7	7
Amount \| ₪	₪ 2,003		₪ 636	₪ 1,027
Directors Fees \| U.S. Dollars
Balances and Transactions with Related Parties (Details) - Schedule of benefits for employment of key management personnel (including directors) not employed [Line Items]
Amount \| $		$ 623

Balances and Transactions with Related Parties (Details 3) ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 ILS (₪)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 ILS (₪)	Dec. 31, 2018 ILS (₪)
Key management personnel of entity or parent
Balances and Transactions with Related Parties (Details) - Schedule of transactions with related parties [Line Items]
Research and development expenses \| ₪	₪ 1,328		₪ 1,326	₪ 2,107
General and administrative expenses \| ₪	2,280		2,560	2,254
Total \| ₪	3,609		3,886	4,361
Key management personnel of entity or parent \| U.S. Dollars
Balances and Transactions with Related Parties (Details) - Schedule of transactions with related parties [Line Items]
Research and development expenses \| $		$ 413
General and administrative expenses \| $		709
Total \| $		1,122
Related parties
Balances and Transactions with Related Parties (Details) - Schedule of transactions with related parties [Line Items]
Research and development expenses \| ₪	0		0	913
General and administrative expenses \| ₪	(177)		1,304	3,517
Total \| ₪	₪ (177)		₪ 1,304	₪ 4,430
Related parties \| U.S. Dollars
Balances and Transactions with Related Parties (Details) - Schedule of transactions with related parties [Line Items]
Research and development expenses \| $		0
General and administrative expenses \| $		(55)
Total \| $		$ (55)