<SEC-DOCUMENT>0001213900-22-023853.txt : 20250116
<SEC-HEADER>0001213900-22-023853.hdr.sgml : 20250116
<ACCEPTANCE-DATETIME>20220504113637
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-22-023853
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220504

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Polyrizon Ltd.
		CENTRAL INDEX KEY:			0001893645
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		12/6 BOROCHOV ST.
		CITY:			RAANANA
		STATE:			IL
		ZIP:			4343306
		BUSINESS PHONE:		972-54-7979668

	MAIL ADDRESS:	
		STREET 1:		12/6 BOROCHOV ST.
		CITY:			RAANANA
		STATE:			IL
		ZIP:			4343306
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">May 4, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Life Sciences</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%">Attention:</TD>
    <TD STYLE="width: 91%">Abby Adams</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Celeste Murphy</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Kevin Vaughn</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Li Xiao</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD><B>Polyrizon Ltd.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><B>Draft Registration Statement on Form
F-1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><B>Submitted April 14, 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><B>CIK No. 0001893645</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">Dear Ms. Adams:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On behalf of Polyrizon Ltd.
(the &ldquo;Company&rdquo;), we are writing to submit the Company&rsquo;s responses to the comments of the staff (the &ldquo;Staff&rdquo;)
of the Division of Corporation Finance of the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) dated April 19, 2022,
relating to the above referenced Draft Registration Statement on Form F-1 (CIK No. 0001893645) submitted by the Company on April 14, 2022
(the &ldquo;Draft Registration Statement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Concurrent with the submission
of this letter, the Company is filing via EDGAR Amendment No. 3 to the Draft Registration Statement (&ldquo;Amendment No. 3&rdquo;), which
reflects the Company&rsquo;s responses to the comments received from the Staff and certain updated information. For your convenience,
the Company is also delivering via email a copy of this letter and Amendment No. 3 marked to indicate changes from the Draft Registration
Statement.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For ease of review, we have
set forth below each of the numbered comments of your letter and the Company&rsquo;s responses thereto. Capitalized terms used herein
but not defined herein have the meanings given to such terms in Amendment No. 3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Tomer Izraeli</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Polyrizon Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">May 4, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><U>Amendment No. 2 to Draft Registration Statement
on Form F-1 submitted April 14, 2022 Prospectus Summary, page 1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="text-transform: uppercase">1.</FONT></TD><TD STYLE="text-align: justify"><B>We reissue comment 1 in full. Further refine your disclosure to avoid terms that imply your product
is a drug. Your revised terms continue to imply or clearly state you will mitigate or prevent disease. For example rather than focus on
barrier or shield, you use &ldquo;reduce the risk of nasal infection&rdquo; and describe &ldquo;symptom alleviation&rdquo; here and on page
92. Furthermore, you use terms such as &ldquo;platform,&rdquo; which is typically used in the pharmaceutical industry and does not provide
insight as to the nature of your product.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><B>Most importantly, the disclosure
emphasizes in the first sentence of your document that you &ldquo;specialize in the development of innovative <I>nasal gels to reduce the
risk of nasal infections</I> caused by a wide range of biological assaults,&rdquo; and it is not until the third line of the third paragraph
of your prospectus that you use the term &ldquo;medical device.&rdquo; To provide full disclosure, revise the first page to clarify that
you are not developing drugs, why these products are classified as medical devices and not drugs, and the risks associated if you are
wrong in your assessment of how they will be classified. Finally, to the extent you use the term &ldquo;biotech,&rdquo; tell us how your
ingredients qualify for that nomenclature, <I>i.e.</I>, identify whether the ingredients in your nasal sprays are derived from living
organisms or parts of living organisms. Finally, to the extent that you do not have currently commercialized products, revise the heading
&ldquo;our products&rdquo; to a more appropriate title.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.95pt 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><U>Response</U>: In response
to the Staff&rsquo;s comment, throughout Amendment No. 3, the Company eliminated all uses of &ldquo;platform&rdquo; and &ldquo;symptom
alleviation&rdquo; with respect to its C&amp;C technology. In addition, the Company eliminated references that its products &ldquo;reduce
the risk of nasal infections&rdquo; and replaced them with references that it can potentially block allergens and viruses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the Company has revised its disclosure
on pages 1 and 72 of Amendment No. 3 to clarify that its C&amp;C product candidates are medical devices. The revised disclosure explains
that because the polymers in the Company&rsquo;s C&amp;C product candidates simply lay on top of the cells and physically block viruses
and allergens from interacting with the nasal epithelial tissue, as opposed to penetrating the cells and causing a chemical reaction,
that they are not expected to be considered as drugs by the FDA but as medical devices.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Further, the Company has revised its disclosure
on pages 1 and 72 of Amendment No. 3 to discuss the ingredients in its polymers which allow it to qualify as biotechnology products. Finally,
the Company has revised the heading &ldquo;Our Products&rdquo; on pages 1 and 72 of Amendment No. 3 to &ldquo;Our Product Candidates&rdquo;&nbsp;&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="text-transform: uppercase">2.</FONT></TD><TD STYLE="text-align: justify"><B>We note your response to comment 2. Revise the prospectus summary to separate the candidates by type
and clarify the differences between the types that dictate into which FDA category you believe they will fall. Disclose when you plan
to conduct the pre- submission meeting with the FDA&rsquo;s Center for Devices and Radiological Health to confirm the potential for the Class
II medical device path under a de novo classification request for PL-15 and PL-16.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Response</U>: In response to the Staff&rsquo;s
comment, the Company has revised the prospectus summary on pages 1 and 2 of Amendment No. 3 to separate the candidates by type, and clarified
the differences between the types that dictate into which FDA category it believes each will fall. The Company additionally clarified
that it intends to conduct a pre-submission meeting with the FDA&rsquo;s Center for Devices and Radiological Health to confirm the potential
for the Class II medical device path under a de novo classification request for its PL-15 and PL-16 products in the first quarter following
the completion of the initial public offering.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Tomer Izraeli</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Polyrizon Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">May 4, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Page 3</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="text-transform: uppercase">3.</FONT></TD><TD STYLE="text-align: justify"><B>Revise the added disclosure on page 1 regarding the experience of similar products to clarify that
there is no guarantee that your product candidates will advance in the FDA process at the same rate, will advance at all, or will ever
reach commercialization. Revise to clarify what route your products must take if the FDA denies them approvals as medical devices in your
chosen categories or determines they must seek approval as pharmaceuticals. Provide cross-references to appropriate risk factors.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Response</U>: In response to the Staff&rsquo;s comment, the Company
has revised its disclosure on page 1 of Amendment No. 3 to clarify that there is no guarantee that its products will advance in the FDA
process at the same rate, will advance at all, or will ever reach commercialization, as similar products referenced. The Company further
revised its disclosure to clarify the alternative routes its products would be required to take if the FDA denies them approvals as medical devices in
its preferred pathways, and provided cross-references to appropriate risk factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><U>Capitalization, page 64</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="text-align: justify; padding-right: 0"><B>Please revise to update the historical number of ordinary shares as of December 31, 2021 in the
capitalization table here to be consistent with your balance sheet at page F-3.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Response</U>: In response to the Staff&rsquo;s
comment, the Company has revised its disclosure on pages 62 and F-3 of Amendment No. 3 to make the historical number of ordinary shares
outstanding as of December 31, 2021 consistent.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 383.8pt 0pt 0; text-indent: 0in"><U>Business</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 383.8pt 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><U>Overview, page 74</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><B>5.</B></TD><TD STYLE="text-align: justify; padding-right: 0"><B>We note your response to comment 5. Revise the disclosure in the summary and
                                       business section to prominently disclose that you have no predicate devices on which to determine that you have identified the
                                       appropriate pathway for approval, that you have not approached the FDA to determine the appropriate pathway, and that you do not
                                       plan to approach the FDA about the appropriate pathway until after this offering is complete. Also prominently disclose in both
                                       areas that there is no assurance the FDA will agree with your choice of the appropriate pathway or your choice of the structure of
                                       the chosen clinical trial or trials for any one of your potential medical devices or hybrid devices, or, if they do, there is no
                                       assurance that any one of your devices will advance on the timelines you anticipate, if at all, or that they will be successful
                                       in any trials, or if successful, will obtain FDA clearance.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Response</U>: In response to the
Staff&rsquo;s comment, the Company has revised its disclosure in the summary and business section to prominently disclose that it
has no predicate devices on which to determine that it has identified the appropriate pathway for approval for its PL-15 and PL-16
product candidates under a De Novo Classification Pathway. It further clarified that it has not approached the FDA to determine this
appropriate pathway, and that it does not plan to approach the FDA about the appropriate pathway until the first quarter following
the completion of the initial public offering. The Company further disclosed in both areas that there is no assurance the FDA will
agree with its choice of the appropriate pathway or its choice of the structure of the chosen clinical trial or trials for any one
of its potential medical devices or hybrid devices, or, if they do, there is no assurance that any one of its devices will advance
on the timelines it anticipates, if at all, or that they will be successful in any trials, or if successful, will obtain FDA
clearance.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0.5in; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Tomer Izraeli</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Polyrizon Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">May 4, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Page 4</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1in 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27pt 0pt 0"><B>6. We reissue
comment 6. Eliminate the graphic. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Response</U>: In response to the Staff&rsquo;s comment, the Company
has eliminated the Product Roadmap Graphic.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27pt 0pt 0"><U>Principal Shareholders, page 125</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><B>7.</B></TD><TD STYLE="text-align: justify; padding-right: 0"><B>Clarify the terms of the SAFE investments and whether the IPO will be a qualified
equity financing that will trigger a share issuance under the agreement. It appears from the disclosure on page F-20 that the SAFE investment
will be dilutive to IPO investors and should be disclosed in the principal shareholders table, highlighted in the summary and in the risk
factors.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Response</U>: The Company expects that the
IPO will be considered a qualified equity financing that will trigger a share issuance under the SAFE. The Company respectfully advises the Staff
that on page 9 of Amendment No. 3, the Company states that &ldquo;Unless otherwise indicated, all information in this prospectus assumes
or gives effect to&hellip; the issuance of ordinary shares upon the automatic conversion of a Simple Agreement for Future Equity, or SAFE,
investment in the amount of $250, upon the completion of this offering at an assumed conversion price equal to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , the midpoint of the
price range set forth on the cover page of this prospectus&hellip;&rdquo;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The number of SAFE shares to be issued upon conversion of the SAFEs
will be included in a subsequent filing of the registration statement when the Company has an assumed offering price. Since all of the
share capital information in the registration statement will reflect the issuance of the SAFE shares as if such shares had already been issued, any dilutive
effect of the SAFEs will already be reflected in the Company&rsquo;s registration statement. Accordingly, the Company respectfully advises
the Staff that it does not believe that an additional risk factor is necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, in the section titled &ldquo;Dilution&rdquo;
on page 63 of Amendment No. 3, the Company has included additional disclosure to further clarify that the issuance of the SAFE shares
will be triggered by the IPO and that all share capital information in Amendment No. 3 assumes the issuance of such shares.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11.5pt 0pt 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Please contact me at +1&nbsp;312.372.2000 if you
have any questions or require any additional information in connection with this letter or the Company&rsquo;s submission of its draft
Registration Statement on Form&nbsp;F-1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt">Sincerely,</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ David Huberman</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc: Tomer Izraeli, Chief Executive Officer</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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