Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 38

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 38
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There may be conflicts of interest among our officers, directors and stockholders.

Certain of our executive officers and directors
and their affiliates are engaged in other activities and have interests in other entities on their own behalf or on behalf of other persons.
Neither we nor any of our shareholders will have any rights in these ventures or their income or profits. In particular, our executive
officers or directors or their affiliates may have an economic interest in or other business relationship with partner companies that
invest in us or are engaged in competing drug development. Our executive officers or directors may have conflicting fiduciary duties to
us and third parties. The terms of transactions with third parties may not be subject to arm’s length negotiations and therefore
may be on terms less favorable to us than those that could be procured through arm’s length negotiations. Although we have established
an audit committee comprised solely of independent directors to oversee transactions between us and our insiders, we do not have any formal
policies in place to deal with such conflicting fiduciary duties should such a conflict arise.

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We indemnify our officers and directors against liability to us and our security holders, and such indemnification could increase our operating costs.

Our Articles of Incorporation and Bylaws require
us to indemnify our officers and directors against claims associated with carrying out the duties of their offices. We are also required
to advance the costs of certain legal defenses upon the indemnitee undertaking to repay such expenses to the extent it is determined that
such person was not entitled to indemnification of such expenses. Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to our officers, directors, or control persons, the Commission has advised that such indemnification is against public
policy and is therefore unenforceable.

Risks Relating to Our Intellectual Property

We may be unable to obtain or protect intellectual property rights relating to our product candidates, which could have a materially adverse effect on our business.

Our ability to compete effectively will depend
on our ability to maintain the proprietary nature of our technologies. We cannot assure investors that we will continue to innovate and
file new patent applications, or that if filed any future patent applications will result in granted patents with respect to the technology
owned by us or licensed to us. Further, we cannot predict how long it will take for such patents to issue, if at all. The patent position
of pharmaceutical or biotechnology companies, including ours, is generally uncertain and involves complex legal and