Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 3

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1
Chunk 3
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. The trial will enroll patients in Canada under the current
protocol, which involves weekly dosing of Decoy20. We also plan to submit an amendment to Health Canada to initiate the Combination Study
in Canada.

Unlike
many competitor products, our technology does not depend on targeting with or to a specific antigen, providing broad potential across
multiple indications. Our products are designed to have a much shorter half-life and produce less systemic exposure than small molecule,
antibody or human cell-based therapies, potentially reducing the risk of non-specific auto-immune reactions. Our technology has produced
single agent activity and/or combination therapy-based durable responses in lymphoma, hepatocellular, colorectal and pancreatic tumors
and has also showed activity against hepatitis B virus (HBV) and HIV infection in standard preclinical models. Our target indications
include, but are not limited to, colorectal, hepatocellular (± HBV), bladder, cervical and pancreatic carcinoma, which according
to GLOBOCAN 2020, account in the aggregate for 23% of yearly cancer cases and over 28% of yearly cancer deaths world-wide.

7

Historically,
we have operated virtually with a team of highly experienced consultants and advisors, carrying out research and development at contract
research organizations (CROs). We have developed patented treatment methods (and associated patented compositions) for attenuation and
killing of non-pathogenic, Gram-negative bacteria (34 issued or granted patents). Since our inception, we have funded our operations
primarily through public and private offerings of our equity securities.

Recent
Developments

February
2025 Equity Line

On
February 12, 2025, we entered
into a Standby Equity Purchase Agreement, or the SEPA with YA II PN, LTD., a Cayman Islands exempt limited company, or
Yorkville. Pursuant to the SEPA, we have the right, but not the obligation, to sell to Yorkville from time to time up to $20.0
million of our common stock, during the 36 months following the
execution of the Purchase Agreement, subject to the restrictions and satisfaction of the conditions in the SEPA. At our option, the
shares of common stock would be purchased by Yorkville from time to time at a price equal to 97% of the lowest of the three daily
VWAPs during a three consecutive trading day period commencing on the date that we, subject to certain limitations, deliver a notice
to Yorkville that the Company