Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2056

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 2056
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udited
proforma financial information for the Company and Legacy Ocean as of December 31, 2022 and for the year then ended. Interested parties
should refer to our Current Reports on Form 8-K for more information.

As
used in this Annual Report on Form 10-K, unless otherwise noted or the context otherwise requires: (i) references to the “Company,”
“Ocean Biomedical,” “we,” “us,” “our” and similar terms refer to Ocean Biomedical, Inc.
(f/k/a Aesther Healthcare Acquisition Corp.) and its subsidiaries; (ii) references to “Aesther” are to Aesther Healthcare
Acquisition Corp. prior to the close of the Business Combination; (iii) references to “Legacy Ocean” are to Ocean Biomedical
Holdings, Inc. (f/k/a Ocean Biomedical, Inc.) prior to the close of the Business Combination; and (iv) references to “Sponsor”
are to Aesther Healthcare Sponsor, LLC.

Description
of Business

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 brings 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 for us and potential licensing partners. We
believe this structure, combined with the networks of our leadership team, 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 initial public offerings—in order to benefit patients through the commercialization of these products. Our current
active assets are licensed directly or indirectly from Brown University and Rhode Island Hospital. Our scientific co-founders and members
of our board of directors, Dr.