Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 45

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 45
---
 or eliminated, and our right to develop and commercialize any of our drug candidates
or technology that are the subject of such licensed rights could be adversely affected. In addition, our licensors may own or control
intellectual property that has not been licensed to us and, as a result, we may be subject to claims, regardless of their merit, that
we are infringing or otherwise violating the licensor’s rights.

If we fail to comply with our obligations, including
the obligation to make various milestone payments and royalty payments, under any of the agreements under which we license intellectual
property rights from third parties, the licensor may have the right to terminate the license. If any of our license agreements is terminated,
the underlying licensed patents fail to provide the intended exclusivity or we otherwise experience disruptions to our business relationships
with our licensors, we could lose intellectual property rights that are important to our business or be prevented from developing and
commercializing our drug candidates, and competitors could have the freedom to seek regulatory approval of, and to market, products identical
to ours. Termination of these agreements or reduction or elimination of our rights under these agreements may also result in our having
to negotiate new or reinstated agreements with less favorable terms, cause us to lose our rights under these agreements, including our
rights to important intellectual property or technology, or impede, delay or prohibit the further development or commercialization of
one or more drug candidates that rely on such agreements. It is possible that we may be unable to obtain any additional licenses at a
reasonable cost or on reasonable terms, if at all. In that event, we may be required to expend significant time and resources to redesign
our drug candidates or the methods for manufacturing them or to develop or license replacement technology, all of which may not be feasible
on a technical or commercial basis

<div align='center'>21</div>

Licensing of intellectual property is of critical
importance to our business and involves complex legal, business and scientific issues and certain provisions in intellectual property
license agreements may be susceptible to multiple interpretations. Disputes may arise between us and our licensing partners regarding
intellectual property subject to a license agreement, including:

| · | the scope of rights granted under the license agreement and other interpretation-related issues; |

| · | whether and the extent to which technology and processes of one party infringe intellectual property of the other party that are not 
 subject to the licensing agreement;                                                                                                  |

| · | rights to sublicense patent and other rights to