Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3467

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3467
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 to fail to capitalize on viable commercial products or profitable market opportunities.
Our spending on current and future identification, discovery, and preclinical development programs and product candidates for specific
indications may not yield any commercially viable products.

Our
reliance on a central team consisting of a limited number of employees who provide various administrative, research and development,
and other services across our organization presents operational challenges that may adversely affect our business.

Some
of our officers and directors may serve as directors or officers of our subsidiaries, and, as a result, have and may continue to have,
fiduciary and other duties to our subsidiaries causing conflicts of interest with respect to their duties to us and their duties to our
subsidiaries and in determining how to devote themselves to our affairs and the affairs of our subsidiaries. Our subsidiaries’
partners may also disagree with the sufficiency of resources that we provide to each subsidiary.

70

Certain
of our officers, including our Executive Chairman and Director, Chirinjeev Kathuria, are also directors and/or officers of one or more
of our subsidiaries and, as a result, have fiduciary or other duties both to us and our subsidiaries. The conflicts of interest that
arise from such duties could interfere with the management of our subsidiaries and their programs and product candidates, or result in
disagreements with our subsidiaries’ partners. For example, an individual who is both our director and a director of one of our
subsidiaries, owes fiduciary duties to the subsidiary and to us as a whole, and such individual may encounter circumstances in which
his or her decision or action may benefit the subsidiary while having a detrimental impact on us, or vice versa, or on another subsidiary,
including 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