Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2469

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2469
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 monetized successfully. Independent analyses of pharmaceutical research and development productivity indicate that
    ill-defined science is a major cause of low success rates and eventual failure of programs. We believe that there is no substitute
    for a thorough science/technology assessment upfront as it is essential to have a clear understanding of the science and a clear
    vision of how a technology becomes a product before starting the development effort.

    ●
    Our
    approach to selecting programs is opportunistic: We seek opportunities based on solid science, well-characterized drug mechanisms
    of action, and targets with true disease-modifying potential that can address significant unmet medical needs. While many such opportunities
    may be found at leading universities and medical centers, we search for promising technologies wherever they can be found. We believe
    that such technologies can be located at institutions across the world. We are open to evaluating programs at any stage of development.
    We are purposely opportunistic and agnostic as to therapeutic area. Our strategy is to bring the appropriate and the most current
    expertise to bear as needed for each program.

    ●
    We
    aim for efficient therapeutic development operations: Once we select an asset for development, we leverage our years of experience
    in drug development to create appropriate development strategies. We aim to execute such strategies efficiently by leveraging CROs
    and other drug development experts and consultants. The development process is managed by our experienced team with support from
    leaders and experts in the relevant disease areas. We aim to rapidly and efficiently advance our product candidates to objective
    critical decision points. We direct resources toward the opportunities that we believe are the most promising, and we discontinue
    programs that do not meet performance thresholds. Each development program is carried forward with what we believe to be the right
    balance of effort from our centralized resources and personnel, through which we share certain support functions across various programs,
    combined with specialist external providers as appropriate. This combination is designed to ensure that each program has the appropriate
    level and type of resources required to execute its unique development strategy while minimizing fixed costs at the program level.

13

    ●
    We
    believe our structure supports our strategic aims: We are structured in a manner where Ocean Biomedical currently houses each program
    in a wholly-owned subsidiary. This structure is designed to leverage a main feature of our business model in which each program is
    derived from our acquisition of a license to assets from a research university or similar institution. This structure is