Company: TELO
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010298
Chunk: 68

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 68
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 to the
recoverability and classification of assets or the amounts and classification of liabilities that might be necessary should the Company
be unable to continue as a going concern.

Note
3. License agreement, related party:

The
Company licenses the U.S. patent rights for the use of Telomir-1 in human applications from MIRALOGX, LLC (“MIRALOGX”), an
intellectual property development and holding company established by Jonnie R. Williams, Sr., the founder of the Company and the sole
inventor of Telomir-1.

    9

TELOMIR
PHARMACEUTICALS, INC.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

FOR
THE THREE MONTHS ENDED MARCH 31, 2025 AND 2024

(Unaudited)

On
August 11, 2023, (the “Effective Date”), the Company and MIRALOGX entered into an Amended and Restated Exclusive License
Agreement, under which the Company has the exclusive perpetual right and license under the above-described patent rights to make, have
made, use, and sell “Licensed Products” in the U.S. for human uses and preclinical studies and activities of any kind conducted
in furtherance of obtaining regulatory approval or commercialization for human uses (the “MIRALOGX License Agreement”). On
November 10, 2023, the Company and MIRALOGX entered into the Amendment No. 1 to the Amended and Restated License Agreement, pursuant
to which the field of use relating to the license was amended to include therapeutic treatments and other medical or health uses in animals,
in addition to humans, and related preclinical studies and activities conducted in furtherance of obtaining regulatory approval for and
commercialization of veterinary, in addition to human, therapeutic treatments and uses (together with the “Initial MIRALOGX License
Agreement, the “MIRALOGX License Agreement”). “Licensed Product” is defined in the agreement as a drug product
containing as an active agent 2,4,6-tris(3,4-dihydro-2H-pyrrol-2-yl) pyridine or a pharmaceutically acceptable salt, ester, or solvate
thereof. The Company also has the right to grant corresponding sublicenses under the licensed patent rights. The MIRALOGX License Agreement
provides for