Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 30

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1
Chunk 30
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 private research institutions. Many of these competitors may have
access to greater capital and resources than us. These competitors also compete with us in recruiting and retaining qualified scientific
and management personnel. Any product candidates that we successfully develop and commercialize will compete with new immunotherapies
that may become available in the future. Our competitors include larger and better funded biopharmaceutical, biotechnology and therapeutics
companies, specifically companies focused on cancer immunotherapies, such as Amgen, Inc., AstraZeneca plc, BMS, Genentech, Inc., GlaxoSmithKline
PLC, Merck & Co., Inc., Novartis AG, Pfizer Inc., Roche Holding Ltd and Sanofi S.A. On the other hand, many of these companies are
developing immunotherapeutics which may have potential to be used in concert with Decoy20 and in this regard, we view them as potentially
complimentary.

23

With
respect to our lead candidate, Decoy20, there are a number of companies that are developing possible treatments for cancer, however,
we believe we are the only company using systemic administration of killed, non-pathogenic Gram-negative bacteria with reduced lipopolysaccharide-endotoxin
to stimulate innate and adaptive immune system pathways.

Our
success will be based in part upon our ability to successfully commercialize Decoy20 and to identify, develop and manage a portfolio
of therapeutics that are safer and more effective than competing products in our target indications. Our market opportunity has the potential
to be reduced or eliminated if our competitors develop and commercialize products that are safer, more effective, have fewer side effects,
are more convenient or are less expensive than any therapeutics we may develop. Our competitive position will also be dependent upon
our ability to attract and retain qualified personnel, to obtain patent protection or otherwise develop proprietary products or processes,
and protect our intellectual property, to differentiate our product from other therapeutics and to secure sufficient capital resources
for the period between technological conception and commercial sales. The availability of reimbursement from government and other third-party
payors will also significantly affect the pricing and competitiveness of our products. Our competitors may also obtain FDA or other regulatory
approval for their products more rapidly or with broader applications than we may obtain approval for ours, which could result in our
competitors establishing a strong market position before we are able to enter the market.

Intellectual
Property

Our
success depends, at least in part, on our ability to