Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3459

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3459
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 drug candidates, if any such drug or the condition that they are
intended to treat are the subject of a trial. It is also possible that comparative effectiveness research demonstrating benefits in a
competitor’s drug could adversely affect the sales of our drug candidate. If third-party payors do not consider our drugs to be
cost-effective compared to other available therapies, they may not cover our drugs after approval as a benefit under their plans or,
if they do, the level of payment may not be sufficient to allow us to sell our drugs on a profitable basis.

These
laws, and future state and federal healthcare reform measures may be adopted in the future, any of which may result in additional reductions
in Medicare and other healthcare funding and otherwise affect the prices we may obtain for any product candidates for which we may obtain
regulatory approval or the frequency with which any such product candidate is prescribed or used.

Outside
of the United States, the pricing of pharmaceutical products and medical devices is subject to governmental control in many countries.
For example, in the European Union, pricing and reimbursement schemes vary widely from country to country. Some countries provide that
products may be marketed only after a reimbursement price has been agreed. Some countries may require the completion of additional studies
that compare the cost effectiveness of a particular therapy to currently available therapies or so-called health technology assessments,
in order to obtain reimbursement or pricing approval. Other countries may allow companies to fix their own prices for products, but monitor
and control product volumes and issue guidance to physicians to limit prescriptions. Efforts to control prices and utilization of pharmaceutical
products and medical devices will likely continue as countries attempt to manage healthcare expenditures.

Employees
and Human Capital

As
of December 31, 2024, we had seven full-time employees, including three with Ph.D. or M.D. degrees and two who are engaged in research
and development activities. None of our employees are represented by labor unions or covered by collective bargaining agreements. We
consider our relationship with our employees to be good. Our human capital resources objectives include, as applicable, identifying,
recruiting, retaining, incentivizing and integrating our existing and new employees, advisors and consultants.

Facilities

Our
research and development efforts have taken place in state-of-the-art facilities at our academic partners, principally at Brown University,
which are being used under the Sponsored Research Agreements. Consistent with our lean and agile operating philosophy, we anticipate
relying on these facilities going forward through sponsored research arrangements with Brown and with other university