Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2506

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1
Chunk 2506
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 protection afforded
by a patent varies on a product-by-product basis, from country-to-country, and depends upon many factors, including the type of patent,
the scope of its coverage, the availability of regulatory-related extensions, the availability of legal remedies in a particular country
and the validity and enforceability of the patent. Patent term may be inadequate to protect our competitive position on our products
for an adequate amount of time.

As
of December 31, 2024, we exclusively license 16 allowed or issued patents and 36 pending patent applications. The issued patents and
pending patent applications have nominal expiration dates ranging from 2032 to 2041, without accounting for any available patent term
adjustments or extensions. We have further exclusively sublicensed our rights and obligations under our licenses with Elkurt, Inc. to
three subsidiaries that house the applicable program: Ocean Chitorx, Inc. (for oncology), Ocean Sihoma, Inc. (for malaria) and Ocean
Chitofibrorx, Inc. (for fibrosis). On March 28, 2025, we also announced that the China National Intellectual Property Administration (CNIPA) has granted
a notice of grant on patent right for its bispecific antibodies targeting CHI3L1 and PD1, designed to enhance T cell-mediated cytotoxic
effects on tumor cells.

These
issued patents and patent applications include:

    ●
    With
    respect to OCX-253, OCX-410, and OCX-909, our Ocean Chitorx, Inc. subsidiary obtained an exclusive sublicense from Elkurt, Inc.,
    or Elkurt, under Elkurt’s exclusive license from Brown University. Specifically, the Elkurt license includes four issued U.S.
    methods and compositions utility patents and twenty pending utility patent applications including applications in the United States,
    Canada, Europe, and Hong Kong. The issued patents have expected expiration dates in 2038, without accounting for any available patent
    term adjustments or extensions. Elkurt is a company formed by our scientific co-founders and members of our board of directors, Jack
    A. Elias, M.D., former Dean of Medicine and current Special Advisor for Health Affairs to Brown University, and Jonathan Kurtis,
    M.D., Ph.D., Chair of the Department of Pathology and Laboratory Medicine at Brown. 

38

    ●
    With
    respect to OCF-203, our Ocean Chitofibrorx, Inc. subsidiary obtained an