Company: LIMN
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001104659-25-006325
Chunk: 243

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-27
Form: POS AM
Chunk 243
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 to, nor did it attempt to, quantify or otherwise assign relative weights to the specific factors it took into account in reaching its decision. Individual members of the Iris Board may have given different weight to different factors. This explanation of the reasons for the Iris Board’s approval of the Business Combination, and all other information presented in this section, is forward-looking in nature and, therefore, should be read in light of the factors discussed under “ Forward-Looking Statements .”

Before reaching its decision, the Iris Board reviewed the results of the due diligence conducted by Iris’s management, legal counsel, and independent advisors, which included:

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Iris’s management had numerous meetings with Liminatus regarding, among other customary due diligence matters, Liminatus’s brand, products, clinical trials and results, intellectual property, public company preparedness, operations, market access and distribution, financials and use of proceeds, competitors, plans, and forecasts.

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A review of Liminatus’s material contracts and other documentation, including but not limited to those relating to intellectual property, regulatory compliance, and other legal matters.

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A review of safety data, preclinical trial data, clinical trial data, and study reports.

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A review of Liminatus’s intellectual property rights, including but not limited to license agreements, patent portfolio status, and patent strategy.

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A review of Liminatus’s upcoming products, expedited pathways available to Liminatus, and consideration of the likelihood of success given Liminatus’ clinical trial data and alternatives in the market, among other considerations.

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A review of Liminatus’s financial statements and internal reports.

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A review of other biotech companies operating in the same or similar market as Liminatus.

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A review of industry trends in the biopharmaceutical market and a historical comparison of similar business combinations.

The factors considered by the Iris Board included, but were not limited to, the following:

Potential to Grow Globally

We intended to prioritize technology businesses with the potential to expand internationally and operate in a growing global market that is ripe for disruption.

We believe that Liminatus aligns well with our goal to prioritize businesses with disruptive technologies and international expansion potential, especially within the rapidly growing global market for cancer therapies.

We believe Liminatus is positioned at the forefront of biotechnology, specifically focusing on immune-modulating cancer therapies. With their innovative approach to developing next-generation CD47 checkpoint

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inhibitors, we believe Liminatus operates