(Note: Ocean Biomedical withdrew its IPO plans in an SEC filing dated Feb. 16, 2023. The clinical biotech announced Feb. 15, 2023, that it had gone public by completing its initial business combination with a SPAC.)
We are a biopharmaceutical company that seeks to bridge the “bench-to-bedside” gap between medical research discoveries and patient solutions. We do this by leveraging our strong relationships with research universities and medical centers to license their inventions and technologies with the goal of developing them into products that address diseases with significant unmet medical needs. Our current active assets are licensed directly or indirectly from Brown University, Stanford University and Rhode Island Hospital. Our scientific co-founders, Dr. Jack A. Elias and Dr. Jonathan Kurtis, are both affiliated with Brown University and Rhode Island Hospital.
We are pursuing programs in oncology, fibrosis, infectious disease and inflammation. Our programs in oncology and fibrosis are based on exclusive licenses with Brown University. Our programs in infectious disease are based on exclusive licenses with Rhode Island Hospital. Our program in inflammation is based on a nonexclusive license with Stanford University. We are not aware of any other licensee for these programs. We anticipate moving certain preclinical product candidates in our oncology (non-small cell lung cancer and glioblastoma multiforme, an aggressive type of brain cancer), pulmonary fibrosis and/or infectious disease (malaria) programs into the clinic in the next 12 to 18 months. We also expect our anti-inflammatory product candidate, OPS-172 targeting angiotensin 1-7, or Ang 1-7, to commence Phase 1/2 clinical trials for the treatment of COVID-19 in hospitalized patients in the second half of 2021.
(Note: Ocean Biomedical’s IPO pricing date is TBA. There was some talk that this IPO may get priced during the week of April 18, 2022, but that could not be confirmed after Easter weekend. The deal has been pushed back from pricing in February during Valentine’s week, and before that, the deal had been delayed from a pricing date in late July 2021. Ocean Biomedical drastically cut the size of its IPO in an S-1/A filing dated Feb. 4, 2022: The number of shares was cut to 2.0 million, down from 6.25 million in a July 26, 2021, filing with the SEC, and the price range was increased to $10 to $12, up from $7 to $9 in the July 2021 S-1/A filing. Under the new terms, the estimated IPO proceeds are $22 million. )