Company: TELO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021496
Chunk: 21

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 21
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abolic dysfunction, and several related pathologies. Telomir-1 has not been evaluated in humans, and there is no assurance that these
preclinical results will translate into clinical safety or efficacy.

Recent
Developments — Binding Letter of Intent for Worldwide Rights to Telomir-1

On
October 17, 2025, we executed a binding Letter of Intent (the “LOI”) to acquire TELI Pharmaceuticals, Inc., thereby securing
worldwide rights to the Company’s lead investigational therapy, Telomir-1. The proposed transaction would align the Company’s
existing U.S. intellectual-property rights with TELI’s ex-U.S. portfolio, consolidating ownership across key territories including
Europe, Canada, Mexico, China, Japan, South Korea, India, Israel, Australia, Argentina, Uruguay, Taiwan, and the United Arab Emirates.

Under
the LOI, each outstanding share of TELI common stock would be exchanged for shares of the Company’s common stock, with the final
exchange ratio to be determined by an independent valuation. The LOI also provides for up to $5 million in potential shareholder contributions
from certain TELI shareholders, payable in cash or cash equivalents over the course of the collaboration — $1 million at closing,
$2 million upon acceptance of an Investigational New Drug (IND) application by the U.S. Food and Drug Administration, and $2 million
upon initiation of a Phase 1/2 clinical trial. The closing of the proposed acquisition is not conditioned upon the funding of these milestone-based
shareholder contributions.

The
transaction remains subject to customary conditions, including completion of due diligence, negotiation of definitive agreements, and
approval by the shareholders of both companies. There can be no assurance that the parties will enter into definitive agreements or that
the transaction will be completed. If consummated, the acquisition would establish Telomir as the single global owner of Telomir-1 intellectual-property
assets and is expected to enhance the Company’s ability to pursue future strategic collaborations, licensing arrangements, or regional
partnership opportunities.

To
date, we have not generated any revenue nor do we expect to generate revenue unless and until we successfully complete preclinical and
clinical development of, receive regulatory approval for, and commercialize a program and we do not know when, or if at all, that will
occur. We expect our expenses to increase substantially in connection with our ongoing activities, particularly as we advance the preclinical
activities and studies