Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2565

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2565
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, we had seven full-time employees, including three with Ph.D. or M.D. degrees and two who are engaged in research
and development activities. None of our employees are represented by labor unions or covered by collective bargaining agreements. We
consider our relationship with our employees to be good. Our human capital resources objectives include, as applicable, identifying,
recruiting, retaining, incentivizing and integrating our existing and new employees, advisors and consultants.

Facilities

Our
research and development efforts have taken place in state-of-the-art facilities at our academic partners, principally at Brown University,
which are being used under the Sponsored Research Agreements. Consistent with our lean and agile operating philosophy, we anticipate
relying on these facilities going forward through sponsored research arrangements with Brown and with other university partners. In addition,
we expect to access laboratory facilities and resources through various CRO partners such as Lonza with whom we are currently engaged.

We
believe that our access to preclinical and clinical research facilities are adequate for our current needs and that suitable facilities
at commercially reasonable terms will be available as needed to accommodate any future expansion of our operations.

Legal
Proceedings

From
time to time, we may become involved in legal proceedings arising in the ordinary course of our business. As of the date of this Annual
Report on Form 10-K, we were not a party to any material legal matters or claims except as set forth in our audited financial statements
for the year ended December 31, 2024, as included in this Annual Report.

In
the future, we may become party to legal matters and claims in the ordinary course of business, the resolution of which we do not anticipate
would have a material adverse impact on our financial position, results of operations or cash flows except as set forth in our audited
financial statements for the year ended December 31, 2024, as included in this Annual Report.

66

Status
as a Public Company

We
are an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the JOBS Act. As such,
we are eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies
that are not “emerging growth companies” including, but not limited to, not being required to comply with the independent
registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding
executive compensation in