Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2461

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2461
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 changed its name from “Ocean Biomedical, Inc.”
to “Ocean Biomedical Holdings, Inc.”

As
of the open of trading on February 15, 2023, our common stock and public warrants began trading on the Nasdaq Stock Market LLC (“Nasdaq”)
as “OCEA” and “OCEAW,” respectively.

Substantially
concurrently with the filing of our previous Annual Report on Form 10-K, we filed an Amendment No. 2 to our Current Report on Form 8-K,
initially filed on February 15, 2023, which included the audited consolidated financial statements of Legacy Ocean for the year ended
December 31, 2022 and related Management’s Discussion and Analysis of Financial Condition and Results of Operations and unaudited
proforma financial information for the Company and Legacy Ocean as of December 31, 2022 and for the year then ended. Interested parties
should refer to our Current Reports on Form 8-K for more information.

As
used in this Annual Report on Form 10-K, unless otherwise noted or the context otherwise requires: (i) references to the “Company,”
“Ocean Biomedical,” “we,” “us,” “our” and similar terms refer to Ocean Biomedical, Inc.
(f/k/a Aesther Healthcare Acquisition Corp.) and its subsidiaries; (ii) references to “Aesther” are to Aesther Healthcare
Acquisition Corp. prior to the close of the Business Combination; (iii) references to “Legacy Ocean” are to Ocean Biomedical
Holdings, Inc. (f/k/a Ocean Biomedical, Inc.) prior to the close of the Business Combination; and (iv) references to “Sponsor”
are to Aesther Healthcare Sponsor, LLC.

Description
of Business

We
are a biopharmaceutical company that seeks to bridge the “bench-to-bedside” gap between medical research discoveries and
patient solutions. We do this by leveraging our strong relationships with research universities and medical centers to license their
inventions and technologies with the goal of developing them into products that address diseases with significant unmet medical needs.
We believe that our differentiated business model positions us to capture inventions created at these institutions that might otherwise
fail to be commercialized to benefit patients. Our team of accomplished scientists, business professionals and entrepreneurs brings together
the interdisciplinary expertise and resources required to develop and commercialize a diverse portfolio of assets. We are organized around
a licensing and subsidiary structure that