Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2573

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2573
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 one for which he or she also serves as a director. Further, our officers and directors who are also officers and directors
of our subsidiaries will need to allocate his or her time to responsibilities owed to us and each of the subsidiaries for which he or
she serves as an officer or director, and will make decisions on behalf of one entity that may negatively impact others. In addition,
while most of our subsidiaries have waived any interest in or expectation of corporate opportunities that are presented to, or acquired,
created or developed by, or which otherwise come into possession of any director or officer who is also our director or officer, disputes
could arise between us and our subsidiary’s partners regarding a conflict of interest. These partners also may disagree with the
amount and quality of resources that our officers and employees devote to the subsidiary in which they are invested. Any such disputes
or disagreements could distract our management, interfere with our relations with our partners, and take significant time to resolve,
which could disrupt the development of our product candidates, delay our potential commercialization efforts, result in increased costs
or make it less likely that other third parties will choose to partner with us in the future.

We
currently outsource, and intend to continue to outsource, nearly all our discovery, clinical development, and manufacturing functions
to third-party providers or consultants. Outsourcing these functions has significant risks, and our failure to manage these risks successfully
could materially adversely affect our business, results of operations, and financial condition.

Our
business model relies upon the use of third parties, such as vendors and consultants, to conduct our drug discovery, preclinical testing,
clinical trials, manufacturing, and all other aspects of clinical development. While our reliance on third parties allows us to purposely
employ a small number of full-time employees, we may not effectively manage and oversee the third parties that our business depends upon
and we have less control over our operations due to our reliance on third parties. While we believe our business model significantly
reduces overhead cost, we may not realize the efficiencies of this arrangement if we are unable to effectively manage third parties or
if our limited number of employees are unable to manage the operations of each of our subsidiaries, including the development of their
programs and product candidates. The failure to successfully and efficiently outsource operational functions or appropriately manage
the operations of our subsidiaries could materially adversely affect our business, results of operations, and financial condition.

Risks
Related to Raising Additional Capital

We
will require substantial additional capital to finance our operations