Company: PTHS
Filing Date: 2025-05-27
Form Type: DEFM14C
Source: 0001140361-25-020509
Chunk: 147

Company: Pelthos Therapeutics Inc.
Filing Date: 2025-05-27
Form: DEFM14C
Chunk 147
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 or otherwise exploit patents covering such technology may be adversely affected.

LNHC relies on in-licenses from third parties. If LNHC loses these rights, its business may be materially and adversely affected, its ability to develop improvements to its technology platform may be negatively and substantially impacted, and if disputes arise, LNHC may be subjected to future litigation, as well as the potential loss of or limitations on its ability to incorporate the technology covered by these license agreements.

LNHC is party to royalty-bearing license agreements that grant LNHC rights to practice certain patent rights that are related to its products, platform and technology, including the NITRICIL platform technology in-licensed from the University of North Carolina at Chapel Hill (through Ligand). In spite of LNHC’s efforts to comply with its obligations under its in-license agreements, its licensors might conclude that LNHC has materially breached its obligations under its license agreements and might therefore, including in connection with any aforementioned disputes, terminate the relevant license agreement, thereby removing or limiting LNHC’s ability to develop and commercialize technology covered by these license agreements. If any such in-license is terminated, or if the licensed patents fail to provide the intended exclusivity, competitors or other third parties might have the freedom to market or develop technologies similar to LNHC’s.

In some circumstances, LNHC may not have the right to control the preparation, filing, prosecution, maintenance and defense of patent applications or patents covering technology that LNHC licenses from third parties. In such circumstances, its licensors generally have rights to file, prosecute, and maintain the licensed patents in their name, generally with LNHC’s right to comment on such filing, prosecution, and maintenance, with some obligation for the licensor to consider or incorporate LNHC’s comments. If its licensors having rights to file, prosecute and maintain LNHC’s patent rights fail to conduct these activities for patents or patent applications covering any of LNHC’s product candidates, its ability to develop and commercialize those product candidates may be adversely affected and LNHC may not be able to prevent competitors from making, using or selling competing products. Additionally, there could also be delays at the USPTO caused by staffing cuts and other U.S. government actions as a result of the Department of Government Efficiency or other executive actions to reduce the size of the U.S. government, which may adversely affect LNHC or its licensors. LNHC cannot be certain that such activities by its licensors have been or will be conducted in compliance with applicable laws and regulations or will result in valid and enforceable patents or