Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2474

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2474
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 scalable therapeutic product development.
We have a structure wherein Ocean Biomedical houses each drug development program or therapeutic platform in a subsidiary. Each of these
programs may include multiple product candidates or assets. This structure helps to ensure that we align interests and that we gain access
to the particular program’s scientific expertise and know-how. The results and outcomes of one subsidiary do not directly affect
others, and because our subsidiaries (or assets) are decoupled, success is not dependent on any one particular asset. We can thereby
evaluate each asset’s preclinical, translational and clinical development progress objectively, which we believe enables us to
allocate resources and capital throughout our portfolio based on each asset’s evidence-based progress and continued scientific
and commercial merits. The continued merits of an asset are periodically assessed using some or all of the criteria outlined above which
we use to assess potential new programs. We are agnostic as to which assets deliver success and believe this allows us to maintain focus
on those which continue to show most potential.

Our
product development and commercialization process reflects the disciplined and objective asset-centric philosophy described above. This
process has the following features:

    ●
    Evidence-based
    and science-driven decision making at each stage of translational and clinical development: For each product candidate, key milestones
    or decision points are set based on their ability to validate technical and commercial viability, and feasibility, as viewed from
    industry and regulatory lenses. We support each product candidate with the interdisciplinary expertise and resources to reach these
    key decision points. We review progress on an on-going basis and constantly re-assess whether the program warrants continued investment
    – i.e., we recognize the dynamic nature of these product candidates and we re-evaluate them based on development progress,
    risk factors, and market dynamics.

    ●
    Lean
    and agile translational development operations: Each program is managed by our centralized team of experienced product development
    leaders who enlist the support of relevant external resources including CROs, CMOs, domain experts, consultants, etc. We believe
    this approach is most cost-effective for clinical and commercial development and that it allows us to minimize overhead while giving
    us the flexibility to tap into the most relevant and current talent for each program without having to rely on large teams of permanent
    hires.

16

In
addition, our Research Review Committee, or RRC, which is expected to be comprised of Dr. Jack A. Elias (Scientific Co-founder), Dr.