Company: OCEA
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001493152-25-001880
Chunk: 72

Company: Ocean Biomedical, Inc.
Filing Date: 2025-01-13
Form: 10-Q
Item: Item 1
Chunk 72
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, LLC (the “Sponsor”), in its capacity as purchaser
representative, Ocean Biomedical Holdings, Inc., formerly known as Ocean Biomedical, Inc., a Delaware corporation (“Legacy Ocean”),
and Dr. Chirinjeev Kathuria, in his capacity as seller representative. In connection with the closing of the Business Combination (the
“Closing”), the Company changed its name from “Aesther Healthcare Acquisition Corp.” to “Ocean Biomedical,
Inc.” References to the “Company”, “Ocean Biomedical”, “we”, “us” and “our”
refer to the Legacy Ocean prior to the Closing of the Business Combination and Ocean Biomedical, Inc., formerly known as Aesther Healthcare
Corp., on a consolidated basis with Legacy Ocean, for periods after the Closing of the Business Combination.

Overview

We
are a biopharmaceutical company that seeks to bridge the “bench-to-bedside” gap between medical research discoveries and
patient solutions. We do this by leveraging our strong relationships with research universities and medical centers to license their
inventions and technologies with the goal of developing them into products that address diseases with significant unmet medical needs.
We believe that our differentiated business model positions us to capture inventions created at these institutions that might otherwise
fail to be commercialized to benefit patients. Our team of accomplished scientists, business professionals and entrepreneurs bring together
the interdisciplinary expertise and resources required to develop and commercialize a diverse portfolio of assets. We are organized around
a licensing and subsidiary structure that we believe will enable us to create mutual value both for us and potential licensing partners.
We believe this structure, combined with the professional networks of our leadership team members, allows us to opportunistically build
a continuous pipeline of promising product innovations through our existing and potential future relationships with research institutions.

Our
goal is to optimize value creation for each of our product candidates, and we intend to continuously assess the best pathway for each
as it progresses through the preclinical and clinical development process—including through internal advancement, partnerships
with established companies and spin-outs or other strategic transactions—in order to benefit patients through the commercialization
of these products. Our current active assets are licensed from Brown University and Rhode Island Hospital. Our scientific co-founders
and members of our Board of Directors (“Board”), Dr. Jack A. Elias and Dr. Jonathan Kurtis, are both affiliated with Brown
University and with Rhode Island Hospital. Our strategy is to accelerate the flow of the academic discoveries and the required clinical
development required for these product