Company: TELO
Filing Date: 2025-02-04
Form Type: 10-K
Source: 0001493152-25-004872
Chunk: 417

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-02-04
Form: 10-K
Item: Item 1A
Chunk 417
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 to compete
with our product candidates. We may also face competition from companies who develop a substantially similar product to one of our product
candidates that is not covered by any of our patents.

Many
companies have encountered significant problems in protecting, defending and enforcing intellectual property rights in foreign jurisdictions.
The legal systems of certain countries, particularly certain developing countries, do not favor the enforcement of patents and other
intellectual property rights, particularly those relating to pharmaceuticals, which could make it difficult for us to stop the infringement
of our patents or marketing of competing products in violation of our proprietary rights generally. Proceedings to enforce our patent
rights in foreign jurisdictions could result in substantial cost and divert our efforts and attention from other aspects of our business.

Currently,
we do not own the rights to the intellectual property and technology that will be used to commercially develop our initial product candidate,
Telomir-1. MIRALOGX, which is a separate intellectual property development company owned by a trust established by the Company’s
founder, holds the patent rights to Telomir-1, which are currently comprised of a pending non-provisional patent application. Pending
the issuance of the non-provisional patent application, we will have an exclusive, license from MIRALOGX to develop and commercialize
Telomir-1 in the U.S. for human and non-human applications. The term of the license will continue through the date of the expiration
of the last-to-expire licensed patent or, if later, the date of the expiration of the last strategic partnership/sublicensing agreement
covering the licensed products. The licensed patent rights are expected to extend through 2043. We expect additional patent terms may
be awarded, including additional patent terms based on the time for regulatory review of drug products. There are no up-front, execution,
or milestone payments required under the license agreement. Further, no payments have been made to date under the agreement. We are also
required to pay an 8% royalty on net sales or revenue in exchange for an exclusive, worldwide license to patent rights, and we may bring
suit in our own name to enforce our patent rights under the license agreement. In the event we are unable to enforce our rights under
the agreement or are unable to detect unauthorized use of our intellectual property, we may lose the benefit of the licensed rights used
to commercially develop Telomir-1. MIRALOGX will control the prosecution of the patent applications for Telomir-1.

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