Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2524

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2524
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 may terminate the Brown
Anti-PfGARP Small Molecules License Agreement in its entirety immediately upon notice for failure by us to meet certain milestones or
the failure to achieve a certain amount of financing. Elkurt may also terminate the Brown Anti-PfGARP Small Molecules License Agreement
for our insolvency. If the Brown Anti-PfGARP Small Molecules License Agreement is terminated by either party for any reason, the Brown
Anti-PfGARP Small Molecules Licenses will terminate and all the rights thereunder will revert to Elkurt.

45

Competition
in our Industry

Competition
for New Product Candidates

Our
industry is intensely competitive and subject to rapid and significant technological change. While we believe that our knowledge, experience,
scientific resources and business model provide us with competitive advantages and may make us a partner of choice to research universities
and medical centers, we face substantial competition from pharmaceutical companies as well as established and venture-backed biotechnology
companies worldwide. For example, other companies such as BridgeBio similarly target research universities and medical centers to identify
and develop therapeutic candidates that may or may not overlap with the inventions or technologies that we may seek to develop. As a
result, we may face competition from other companies that are seeking to gain access to the types of institutions that we may seek to
partner with. Many of our competitors have significantly greater financial, technical and human resources. Smaller and early-stage companies
may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies. As
a result, our competitors may discover, develop, license or commercialize products before or more successfully than we do.

Competition
for Existing Product Candidates

We
face competition with respect to our current product candidates and will face competition with respect to future product candidates,
from pharmaceutical and biotechnology companies, academic institutions, governmental agencies and public and private research institutions,
among others.

If
our current product candidates or our future product candidates do not offer sustainable advantages over competing products, we may otherwise
not be able to successfully compete against current and future competitors.

Our
competitors may obtain regulatory approval of their products more rapidly than we may or may obtain patent protection or other intellectual
property rights that limit our ability to develop or commercialize our product candidates. Our competitors may also develop drugs that
are more effective, more convenient, more widely used and less costly or have a better safety profile than our products and these competitors
may also be more successful than us in manufacturing and marketing their products