Ocean Biomedical, Inc. (OCEA) expects to raise $50 million in an initial public offering on Friday, July 23rd, IPO Scoop reports. The company will be issuing 3,225,806 shares at a price of $14.00-$17.00 per share.
The company has a market cap of $505.5 million.
OCEAN BIOMEDICAL, INC. provided the following description of their company for its IPO: “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. “.
OCEAN BIOMEDICAL, INC. was founded in 2019 and has 9 employees. The company is located at 55 Claverick St., Room 325, Providence, Rhode Island 02903 and can be reached via phone at (401) 444-7375 or on the web at http://www.oceanbiomedical.com/.
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