Company: CPMV
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001683168-25-002584
Chunk: 0

Company: Mosaic ImmunoEngineering Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
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Business
Overview

We are a development-stage biotechnology company focused
on advancing and eventually commercializing immunotherapies for the treatment of cancer. We have historically advanced early-stage product
candidates and we are pursuing new product candidates and platforms to build a product pipeline based on our deep understanding of immunotherapies.

Business Strategy

Our strategy is to leverage our considerable industry
experience, understanding of immunotherapies, and development expertise to identify, develop and commercialize product candidates with
significant market potential that can fulfill unmet medical needs in the treatment of cancer. We have assembled a management team along
with both scientific and business advisors, including recognized experts in the field of immunotherapy, with significant industry and
regulatory experience to lead and execute the development and commercialization of immunotherapy products. We are focused on identifying
and successfully licensing or acquiring new product candidates.

As part of our strategy, on April 26, 2024, we entered
into a binding term sheet (“Binding Term Sheet”) with Oncotelic Therapeutics, Inc.(“Oncotelic”) pursuant to which
we intend to acquire (i) certain rights to Oncotelic’s clinical stage necroptosis cancer therapies associated with its vascular
disruptive agents (“VDAs”) and related regulatory and clinical packages, and (ii) non-exclusive access to its proprietary
Artificial Intelligence (“AI”) technologies for identifying immunotherapy combinations, in exchange for shares of our common
stock valued at $15.0 million upon execution of the definitive agreement, or a combination of common stock and preferred stock to be determined
by the parties, along with additional milestones allowing Oncotelic to earn up to an additional $15.0 million in shares of common stock
that would be valued at the time of issuance, if earned. Pursuant to the Binding Term Sheet, we and Oncotelic agreed to negotiate in good
faith towards the execution of a definitive agreement and the closing of the transaction, which is subject to customary due diligence
and other conditions, including obtaining shareholder approval for the transaction and receiving waivers from our holders of Convertible
Notes representing at least 90% of the principal amount outstanding from any payment that would become due and payable upon a corporate
transaction as contemplated under the Binding Term Sheet.

In addition, under the Binding Term Sheet, (i) we
would continue the development work necessary to achieve the mutually agreed upon milestones upon the requisite funding, (ii) Oncotelic
will provide a loan to us to cover