Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 519

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1
Chunk 519
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 Company purchased approximately 87% of our materials from Spartronics.

We have a central warehouse in
Atlanta, Georgia for the staging of products to be deployed to forward-stocking locations (“FSL”) in major cities close to
our potential customers. We contract with third-party logistics providers to manage both the central warehouse and the FSLs. FSLs allow
us to supply LungFit® devices and consumables in a timely manner to customers.

We market directly to our customers
through our field sales team. A separate team of clinical specialists provides the training necessary to use the devices. Invoicing and
cash collection are managed by our Garden City, New York headquarters.

Intellectual Property

We own or have exclusively licensed
patents, pending patent applications, know-how and trade secrets that relate to our NO generator, NO2 filtration, delivery
systems, devices configured for delivering NO to patients by inhalation, methods of exposing patients to inhalation of NO, and methods
for treating subjects in need of NO inhalation.

We are party to a global, exclusive,
transferable license agreement with NitricGen for the eNOGenerator, its components, and all associated patents and know how related thereto.
Additionally, we have a broad intellectual property portfolio directed to our product candidates and mode of delivery, monitoring parameters
and methods of treating specific disease indications. Our intellectual property portfolio consists of issued patents and pending applications,
which includes patents we acquired pursuant to the exercise of an option in 2017 granted to us by Pulmonox Technologies Corporation (“Pulmonox”).

On August 31, 2015 the Company
entered into an agreement with Pulmonox (the “Option Agreement”) whereby we acquired the option to purchase certain intellectual
property assets, including Pulmonox’s rights in 17 issued U.S. patents, including eight patents jointly owned with CareFusion which
are directed to:

    ● 
    devices and methods for delivering NO formulations to a patient at steady and alternating concentrations (80-400 ppm), including intermittent delivery of NO;

    ● 
    a device and methods for treatment of surface infections; and

    ● 
    use of NO as a mucolytic agent and for treatment and disinfection of biofilms.

We exercised the Option in January
2017, acquiring Pulmonox’s rights in the patents described above. Upon exercise of the Option, we became obligated to make certain
one-time development and sales milestone payments to Pulmonox, commencing with the date on