Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3364

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3364
---

    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 intended
    to allow us to provide attractive economic incentives to the institution and its relevant investigators. We intend in the future,
    as new programs are licensed in by us, to grant a certain percentage of the ownership in the new subsidiaries we create for such
    programs, targeting 20% in aggregate, to the institution and to the researchers. This model is also designed to align our interests
    with those of our partners and to facilitate our access to the particular program’s scientific expertise and know-how. We believe
    this approach will make us the partner of choice or licensee of choice for institutions and researchers because we aim to act with
    greater speed and to provide better potential upside when compared to pharmaceutical companies or venture-backed biotechnology companies
    with whom the institution might also consider partnering