Company: LIMN
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001104659-25-003835
Chunk: 243

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 243
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 TDT, Liminatus’s license partner for the intellectual property and other rights related to GCC (CAR-T therapy and cancer vaccine), terminated the TDT License. Following the receipt of the termination notice, and after considering

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the development status of the CAR-T products, Liminatus management concluded, in its business judgment, that notwithstanding the loss of the TDT License and considering the pre-clinical advancement and market potential of its CD47 asset, to proceed with its business plan without the TDT License. On September 18, 2024, the Iris Board: (i) determined that, notwithstanding the TDT License Termination, the Business Combination was advisable to and in the best interests of Iris and its stockholders, (ii) unanimously approved the Business Combination Agreement, as amended to date, and the transactions contemplated thereby (including the Business Combination) and (iii) recommended that Iris’s stockholders approve the Business Combination Agreement, as amended to date, and the transactions contemplated thereby.

In reaching its decision with respect to the Business Combination, the Iris Board reviewed and considered a wide variety of factors, including various industry and financial data and certain due diligence and evaluation materials provided by legal counsel and independent advisors. In light of the complexity of those factors, the Iris Board, as a whole, did not consider it practicable to, nor did it attempt to, quantify or otherwise assign relative weights to the specific factors it took into account in reaching its decision. Individual members of the Iris Board may have given different weight to different factors. This explanation of the reasons for the Iris Board’s approval of the Business Combination, and all other information presented in this section, is forward-looking in nature and, therefore, should be read in light of the factors discussed under “ Forward-Looking Statements .”

Before reaching its decision, the Iris Board reviewed the results of the due diligence conducted by Iris’s management, legal counsel, and independent advisors, which included:

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Iris’s management had numerous meetings with Liminatus regarding, among other customary due diligence matters, Liminatus’s brand, products, clinical trials and results, intellectual property, public company preparedness, operations, market access and distribution, financials and use of proceeds, competitors, plans, and forecasts.

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A review of Liminatus’s material contracts and other documentation, including but not limited to those relating to intellectual property, regulatory compliance, and other legal matters.

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A review of safety data, preclinical