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OCEA-News
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Ocean Biomedical expands into energy, digital asset sectors
Ocean Biomedical announced a strategic expansion of its business operations to include power infrastructure development and a cryptocurrency treasury strategy, including Bitcoin and Solana. This move comes as part of a deliberate plan to strengthen Ocean Biomedical's financial foundation and enhance long-term value creation for shareholders. The Company will leverage its leadership team's experience and strategic partnerships to pursue high-growth opportunities in the power and digital asset sectors-two industries central to global innovation and economic infrastructure.
Ocean Biomedical granted notice of grant on patent right by CNIPA
Ocean Biomedical announced that the China National Intellectual Property Administration has granted a notice of grant on patent right for its bispecific antibodies targeting CHI3L1 and PD1, designed to enhance T cell-mediated cytotoxic effects on tumor cells. This newly issued patent will strengthen Ocean Biomedical's intellectual property portfolio and provides protection in one of the world's largest pharmaceutical markets. The granted claims cover the novel design and therapeutic applications of bispecific antibodies that simultaneously inhibit CHI3L1 and PD1, key targets implicated in immune evasion by tumor cells. Ocean Biomedical's bispecific antibody technology represents a potential paradigm shift in cancer immunotherapy. By simultaneously targeting CHI3L1-a key regulator of immune suppression-and PD1, a well-established immune checkpoint, this novel approach has the potential to reinvigorate the immune system's ability to combat tumors more effectively than existing treatments alone. By blocking both pathways, these antibodies could enhance immune-mediated tumor cell destruction, leading to more durable responses and better outcomes for patients.
Ocean Biomedical announces findings in EGFR-mutant lung cancer
Ocean Biomedical announced newly published research findings demonstrating the ability of its proprietary cancer immunotherapy candidates to favorably interact with tyrosine kinase inhibitors, such as osimertinib that are used to treat non-small cell lung cancer. Specifically, they demonstrate that Ocean's immunotherapy candidates provide synergy with the TKI therapies to suppress tumor growth and progression. In addition, the paper's findings demonstrate that its proprietary cancer immunotherapy candidates have a remarkable ability to restore treatment sensitivity following development of osimertinib resistance. This breakthrough offers a potential paradigm shift in the treatment of Epidermal Growth Factor Receptor-mutant NSCLC and could expand treatment options for patients whose tumors are no longer responding to tyrosine kinase inhibitors.
Ocean Biomedical receives noncompliance letter from Nasdaq
Ocean Biomedical announced that it received a letter from Nasdaq stating that on April 18, May 22 and August 19, staff notified the company that it did not comply with Nasdaq's filing requirements set forth in Listing Rule 5250(c)(1) because it had not filed its Form 10-K for the year ended December 31, and its Forms 10-Q for the periods ended March 31 and June 30, respectively. Based on its review and the materials submitted on June 17 and August 27, staff granted the company an exception until October 14 to regain compliance with the rule. Upon further review, staff determined that the company did not meet the terms of the exception. Specifically, the company has not filed the either its Form 10-K or Forms 10-Q as required by the rule. The company will appeal staff's determination to a hearings panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series.
Ocean Biomedical, Molecure sign licensing agreement for YKL-40 inhibitors
Molecure has signed an exclusive licensing agreement with Ocean Biomedical. The agreement concerns the development and commercialization of the selective YKL-40 inhibitor program, including the lead molecule OAT-3912, which Molecure has developed to early preclinical stage, as well as a second patent for a primary screening test enabling continuation of a continued discovery and development of novel YKL-40 modulators. Under the agreement, Ocean Biomedical gains the exclusive rights to further research, develop, manufacture and commercialize Molecure's OAT-3912 and other selective YKL-40 inhibitors worldwide and for all indications. As part of the collaboration, Molecure and Ocean Biomedical teams will continue development efforts through a joint steering committee overseeing research progress and commercialization processes. Under the agreement, Molecure will receive initial compensation of $600,000 in cash and stock. Molecure will receive further milestone payments upon achievement of preclinical & clinical development, regulatory & commercial milestones. The maximum bio-dollar value of the agreement amounts to approximately $32 million. Additionally, Molecure is also guaranteed additional revenues from the development and commercialization of other products containing selective YKL-40 inhibitors covered by the agreement, which Ocean Biomedical may choose to pursue. This deal is based on a discovery program carried out by Molecure, focused on the development of selective YKL-40 modulators, which may play a key role in various cancers and fibrotic diseases. This program led to the discovery of the lead compound OAT-3912, which strongly and selectively binds to YKL-40. In preclinical in vivo studies OAT-3912 demonstrated efficacy in cancer, as well as inflammatory and fibrotic diseases.
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