Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 599

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1
Chunk 599
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 clinical development and commercialization capabilities.

For example, we sometimes collaborate
with U.S. and foreign academic institutions to accelerate our preclinical research or development underwritten agreements with these institutions.
Typically, these institutions provide us with an option to negotiate a license to any of the institution’s rights in technology
resulting from the collaboration. Regardless of such option, we may be unable to negotiate a license within the specified timeframe or
under terms that are acceptable to us. If we are unable to do so, the institution may offer the intellectual property rights to other
parties, potentially blocking our ability to pursue our program.

In addition, companies that perceive
us to be a competitor may be unwilling to assign or license rights to us. We also may be unable to license or acquire third-party intellectual
property rights on terms that would allow us to make an appropriate return on our investment. If we are unable to successfully obtain
rights to required third-party intellectual property rights, we may have to abandon development of that program and our business and financial
condition could suffer.

If we fail to comply with our obligations in
the agreements under which we license intellectual property and other rights from third parties or otherwise experience disruptions to
our business relationships with our licensors, we could lose license rights that are important to our business.

We are party to intellectual property
license agreements that are important to our business, and we may enter into additional license agreements in the future. Our existing
license agreements impose, and we expect that future license agreements will impose, various diligence, milestone payment, royalty and
other obligations on us.

Licensing of intellectual property
is of critical importance to our business and involves complex legal, business and scientific issues. Disputes may arise regarding intellectual
property subject to a licensing agreement, including but not limited to:

    ●
    the scope of rights granted under the license agreement and other interpretation-related issues;

    ●
    the extent to which our technology and processes infringe on intellectual property of the licensor that is not subject to the licensing agreement;

    ●
    the sublicensing of patent and other rights;

    ●
    our diligence obligations under the license agreement and what activities satisfy those diligence obligations;

    ●
    the ownership of inventions and know-how resulting from the joint creation or use of intellectual property by our licensors and us and our collaborators; and

    ●
    the priority of invention of patented technology.

If disputes over intellectual
property and other rights that we have licensed prevent or impair our ability to maintain our