Company: LIMN
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001410578-25-001518
Chunk: 116

Company: Liminatus Pharma, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 116
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 Pharma, LLC was formed in Delaware on April 12, 2018. Since our inception, our operations have focused on raising capital and entering into license and development agreements for conducting research and development activities for our products. We do not have any product candidates approved for sale and have not generated any revenue from product sales. We have funded our operations through the sale of equity, raising an aggregate of $4.5 million of gross proceeds from the sale of membership interests, and debt, issuing $10.0 million of bonds and $10.7 million of notes through March 31, 2025. Subsequent to March 31, 2025, the Company raised additional gross proceeds of $3.6 million of notes with Prophase Sciences LLC (“Prophase”), which is a related party of the Company. Since our inception, we have incurred significant operating losses. Our net loss was $0.3 million and $1.8 million for each of the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, we had an accumulated deficit of $29.0 million. We anticipate that our expenses will increase significantly in connection with our ongoing activities, as we:

| ● | conduct clinical trials for our CD47 product, as well as initiate and complete additional trials of future potential product candidates; |

| ● | seek regulatory approval for any product candidates that successfully complete clinical trials; |

| ● | scale up our clinical and regulatory capabilities; |

| ● | manufacture materials for clinical trials or potential commercial sales; |

| ● | establish a commercialization infrastructure and scale up manufacturing and distribution capabilities to commercialize any product candidates for which we may obtain regulatory approval; |

| ● | adapt our regulatory compliance efforts to incorporate requirements applicable to marketed products; |

| ● | maintain, expand, and protect our intellectual property portfolio; |

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| ● | hire additional clinical, manufacturing quality control, regulatory, manufacturing, and scientific and administrative personnel; |

| ● | add operational, financial and management information systems and personnel, including personnel to support our product development and planned future commercialization efforts; and |

| ● | incur additional legal, accounting, and other expenses in operating as a public company. |

Business Combination On November 30, 2022, Iris Acquisition Corporation, a Delaware corporation (“Iris”), Iris Parent Holding Corp. (“ParentCo”), Liminatus Pharma, LLC, Liminatus Pharma Merger Sub, Inc. (“Liminatus Merger