Ocean Biomedical

General Information
Business:

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 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 restructured its IPO in an S-1/A filing dated July 26, 2021: The price range was slashed to $7 to $9, down from its initial range of $14 to $17, and the number of shares was nearly doubled – to 6.25 million shares, up from 3.23 million initially – to raise $50 million. That’s down just about $100,000 from its initial estimated proceeds. However, under the new terms, Ocean Biomedical’s estimated market cap was cut by 43 percent to $288 million, down from about $505.5 million under its initial terms. The deal was initially expected to price on July 22, 2021.)

Industry: PHARMACEUTICAL PREPARATIONS
Employees: 9
Founded: 2019
Contact Information
Address 55 Claverick St., Room 325, Providence, Rhode Island 02903
Phone Number (401) 444-7375
Web Address http://www.oceanbiomedical.com/
View Prospectus: Ocean Biomedical
Financial Information
Market Cap $505.46mil
Revenues $0 mil (last 12 months)
Net Income $-45.56 mil (last 12 months)
IPO Profile
Symbol OCEA
Exchange NASDAQ
Shares (millions): 6.3
Price range $7.00 - $9.00
Est. $ Volume $50.0 mil
Manager / Joint Managers Berenberg/ Oppenheimer & Co.
CO-Managers LifeSci Capital/ Ladenburg Thalmann/ Brookline Capital Markets/ Roth Capital Partners
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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