Company: LIMN
Filing Date: 2025-01-15
Form Type: CORRESP
Source: 0001104659-25-003831
Chunk: 3

Company: Liminatus Pharma, Inc.
Filing Date: 2025-01-15
Form: CORRESP
Chunk 3
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 Lock-Up Agreement with respect to an aggregate of 3.64 million ParentCo Shares. Please revise your disclosure so that it is clear how to reconcile this number of shares to the provisions of the Waiver and Consent filed as Exhibit 10.8, which indicates that the waiver applies to 5.1 million shares, or revise your disclosure as appropriate. Also indicate the business purpose for such waiver and whether there was any consideration paid to ParentCo or the Sponsor in connection with the waiver.

:

In response to the Staff’s comment, the Company
has filed an amended Waiver and Consent as Exhibit 10.8 to the Form S-4 to reflect the correct number of ParentCo shares that
have been released from the lock-up restrictions and further revised the disclosure on pages 7 and 106 of the Form S-4.

The Iris Board’s Reasons for Approving the Business Combination, page 10

10. We note the Iris Board’s determinations and unanimous approvals in your disclosure in the first sentence of the first paragraph of this section and your disclosure, that on September 18, 2024, the Iris Board determined that notwithstanding the TDT License Termination, the Business Combination was advisable to and in the best interests of Iris and its stockholders. Similar to your disclosure in the first sentence, please also clarify if the Iris Board unanimously approved the Business Combination Agreement, as amended to date, and the transactions contemplated thereby, and recommended that Iris’s stockholders approve the Business Combination Agreement, as amended to date, and the transactions contemplated thereby.

:

In response to the Staff’s comment, the Company
has revised the disclosure on pages 11 and 114 of the Form S-4.

Potential to Grow Globally, page 11

11. We note your reference in this section, and in other locations, to Liminatus’ “strong intellectual property protection” Please balance these statements with your disclosure elsewhere that the anti-CD47 antibody is covered by three early-stage applications.

:

In response to the Staff’s comment, the Company
has revised the disclosure on pages 12 and 115 of the Form S-4.

Tamika Sheppard

Tim Buchmiller

U.S. Securities & Exchange Commission

January 15, 2025

Page 4

Background of the Business Combination Target F (Liminatus), page 109

12. Please revise to provide more detailed disclosure of how the enterprise value associated with Liminatus was negotiated and changed from $250,000,000 to $