Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3505

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3505
---
 for failure by us to meet certain milestone events
by certain dates. Each of the below listed sublicense agreements may be terminated if we do not complete a $10 million equity or debt
financing by 2025. In addition, the license agreements set forth the following milestone events and deadlines. Failure by us to meet
such milestone events by the listed deadlines trigger a termination right by the licensing party upon notice:

    ●
    The
    FRG License Agreement (BROWN ID 2465, 2576, 2587): the filing of an IND within one year after commencing IND-enabling studies; completion
    of a Phase 1 clinical trial within one year following the filing of an IND; completion of a Phase 2 clinical trial within approximately
    four years following completion of a Phase 1 clinical trial; and completion of a Phase 3 clinical trial within three and a half years
    following completion of a Phase 2 clinical trial.

    ●
    The
    Anti-CTLA4 License Agreement (BROWN ID 3039): the filing of an IND within two years after commencing IND-enabling studies; the completion
    of a Phase 1 clinical trial within one year following the filing of an IND; completion of a Phase 2 clinical trial within approximately
    four years following completion of a Phase 1 clinical trial; and the completion of a Phase 3 clinical trial within approximately
    three years following the completion of a Phase 2 clinical trial.

    ●
    The
    FRGxPD-1 License Agreement (BROWN ID 2613): the filing of an IND within two years after commencing IND-enabling studies; the completion
    of a Phase 1 clinical trial within one year following the filing of an IND; completion of a Phase 2 clinical trial within approximately
    four years following completion of a Phase 1 clinical trial; and the completion of a Phase 3 clinical trial within three years following
    the completion of a Phase 2 clinical trial.

    ●
    The
    Chit1 License Agreement (BROWN ID 2502): the filing of an IND within two years after commencing IND-enabling studies; the completion
    of a Phase 1/2 clinical trial within two years following the filing of an IND; and the completion of a Phase 3 clinical trial within
    approximately three years following the completion of a Phase 1/2 clinical trial.

    ●
    The