Company: LIMN
Filing Date: 2025-06-02
Form Type: 8-K/A
Source: 0001104659-25-055078
Chunk: 7

Company: Liminatus Pharma, Inc.
Filing Date: 2025-06-02
Form: 8-K/A
Chunk 7
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is Biotech Holdings LLC, the parent company of Valetudo Therapeutics LLC
(“Valetudo”), a related party of the Company.

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We were formed
in Delaware on April 12, 2018.

Since
our inception, our operations have focused on raising capital and entering into license and development agreements for conducting
research and development activities for our products. We do not have any product candidates approved for sale and have not generated
any revenue from product sales. We have funded our operations through the sale of equity, raising an aggregate of $4.5 million of
gross proceeds from the sale of membership interests, and debt, issuing $10.0 million of bonds and $10.0 million of notes through
December 31, 2024. Subsequent to December 31, 2024, the Company raised additional gross proceeds of $0.7 million of notes
with Amantes, LLC (“Amantes”) and Prophase Sciences LLC (“Prophase”), both of which are related parties of
the Company.

Since our
inception, we have incurred significant operating losses. Our net loss was $3.5 million and $5.0 million for the years ended December 31,
2024 and 2023, respectively. As of December 31, 2024, we had an accumulated deficit of $28.7 million. We anticipate that our expenses
will increase significantly in connection with our ongoing activities, as we:

| · | conduct clinical trials for our CD47 product, as well as initiate and complete additional trials of future 
 potential product candidates;                                                                              |

| · | seek regulatory approval for any product candidates that successfully complete clinical trials; |

| · | scale up our clinical and regulatory capabilities; |

| · | manufacture materials for clinical trials or potential commercial sales; |

| · | establish a commercialization infrastructure and scale up manufacturing and distribution capabilities 
 to commercialize any product candidates for which we may obtain regulatory approval;                  |

| · | adapt our regulatory compliance efforts to incorporate requirements applicable to marketed products; |

| · | maintain, expand, and protect our intellectual property portfolio; |

| · | hire additional clinical, manufacturing quality control, regulatory, manufacturing, and scientific and 
 administrative personnel;                                                                              |

| · | add operational, financial and management information systems and personnel, including personnel to support 
 our product development and planned future commercialization efforts; and                                   |

| · | incur additional legal, accounting, and other expenses in operating