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

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 11
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 The patent rights
are expected to extend through 2043, and additional patent terms may be awarded, including additional patent terms based on the time
taken for regulatory review of drug products.

The
agreement also provides that Telomir may bring suit in its own name to enforce patent rights. MIRALOGX will control the prosecution of
the patent applications for Telomir-1. Telomir is required to be kept informed by MIRALOGX of patent prosecution activities and may select
identified countries for patent protection. Telomir is to reimburse MIRALOGX for patent prosecution and maintenance costs.

Note
4. Related party transactions:

Due
to related parties- The Company received working capital advances from companies under common control. These advances are due on
demand and are non-interest bearing. During the year ended December 31, 2024, there were advances received by the Company in the amount
of $0.1 million for payments made regarding studies on behalf of Telomir. No additional activity has occurred as of September 30, 2025,
and $0.1 million remains outstanding.

Starwood
Trust Line of Credit

On
September 24, 2024 the Company entered into an unsecured Promissory Note and Loan Agreement (“the Starwood Note”) with the
Starwood Trust, a separate related party trust established by the Company’s founder for the benefit of the founder’s family.
Under the Starwood Note, the Company has the right to borrow up to an aggregate of $5 million from the Starwood Trust at any time up
until the second anniversary of the note. The Company’s right to borrow funds under the Starwood Note is subject to the absence
of a material adverse change in its assets, operations, or prospects. The Starwood Note, together with accrued interest, is to become
due and payable on the second anniversary of the issuance of the note, provides for prepayment at any time without penalty, and accrues
simple interest at a rate equal 7% per annum. As of September 30, 2025, the Company has not borrowed any amounts under the Starwood Note.

    9

Further,
on December 9, 2024, Starwood Trust entered into a stock purchase agreement with the Company to purchase 142,857 shares of unregistered
common stock at $7 a share for a total of $1.0 million in proceeds to the Company.

Investment
from Largest Shareholder