Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2203

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 2203
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 also have relationships with
other commercial entities, including our competitors, for whom they may also be conducting clinical trials or other product development
activities, which could affect their performance on our behalf. If these third parties do not successfully carry out their contractual
duties or obligations or meet expected deadlines, if they need to be replaced or if the quality or accuracy of the preclinical or clinical
data they obtain is compromised due to the failure to adhere to our protocols or regulatory requirements or for other reasons or if due
to federal or state orders or other such crises they are unable to meet their contractual
and regulatory obligations, our development timelines, including clinical development timelines, may be extended, delayed or terminated
and we may not be able to complete development of, obtain regulatory approval of or successfully commercialize our product candidates.
As a result, our financial results and the commercial prospects for our product candidates would be harmed, our costs could increase
and our ability to generate revenue could be delayed.

If
any of our relationships with these third-party CROs, CMOs or others terminate, we may not be able to enter into arrangements with alternative
CROs, CMOs or other third parties or to do so on commercially reasonable terms.

Switching
or adding additional CROs or CMOs involves additional cost and requires extensive time and focus of our management. In addition, there
is a natural transition period when a new CRO or CMO begins work. As a result, delays may occur, which can materially impact our ability
to meet our desired development timelines.

Though
we carefully manage our relationships with our CROs and CMOs, there can be no assurance that we will not encounter similar challenges
or delays in the future or that these delays or challenges will not have a material adverse impact on our business, financial condition
and prospects.

We
rely on third parties for blood and other tissue samples and other materials required for our research and development activities, and
if we are unable to reach agreements with these third parties our research and development activities would be delayed.

We
rely on third parties, primarily hospitals, health clinics and academic institutions, for the provision of blood and other tissue samples,
clinical and laboratory supplies and other materials required in our research and development activities. Obtaining these materials requires
various approvals as well as reaching a commercial agreement on acceptable terms with the hospital or other provider of the materials.
While we expect to enter into agreements with the institutions from which we receive our tissue