Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3367

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3367
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 universities and medical centers) that we may directly or indirectly license and commercialize; (2) in-licensing selected
inventions and technologies; and (3) developing those inventions and technologies into potential therapeutic products aimed at addressing
unmet medical needs.

Step
One: New Program Identification, Assessment and Selection

Our
close relationships with research universities and medical centers, along with their individual researchers, technology transfer offices,
accelerator programs and entrepreneurship centers, provide us with access to biomedical inventions and technologies that we may directly
or indirectly license and commercialize. Our multi-disciplinary Opportunity Assessment Committee, or OAC, is responsible for new program
identification, assessment and selection – and for ensuring adherence to our due diligence process. The OAC is comprised of Dr.
Jonathan Kurtis (Scientific Co-founder), Michelle Berrey (Interim Chief Executive Officer), and Jolie Kahn (Chief Financial Officer).
The OAC applies our disciplined and rigorous due diligence process to identify, assess quantitatively, and select those inventions and
technologies based on criteria we believe ensures that each asset selected to enter our pipeline is consistent with our mission and commercialization
objectives. Our criteria are listed below, and we score and weigh each criterion through a combination of data analytics, experience
and judgment.

    ●
    Robust
    and verifiable science that can lead to predictable outcomes

    ●
    Well-characterized
    mechanisms with potential to be disease modifying

    ●
    Development
    path with timely and achievable milestones / value inflection points

    ●
    Solid
    and dominating intellectual property / patent position

    ●
    Knowledge
    transfer assuredness (inventors available and approachable)

    ●
    Potential
    for multiple products / applications

    ●
    Potential
    to address significant unmet medical needs

    ●
    Product
    advantages that are “must-haves” for patients, practitioners, and payors

    ●
    Manufacturing
    and scale-up feasibility

    ●
    Attractive
    market / competitive dynamics

    ●
    Favorable
    pricing and reimbursement with good gross margin potential

15

Step
Two: Executing License Agreements

After
a new program is selected via the process outlined above, or in some cases as part of the selection process, we endeavor to negotiate
and execute a license agreement with the relevant university or medical center. Our team has negotiated and executed dozens of such license
agreements,