OCEA Ocean Biomedical Inc

Ocean Biomedical (NASDAQ: OCEA) announced today that its Scientific Co-founder, Dr. Jack A. Elias, MD, has been issued a broad patent for his cancer immunotherapy discovery related to reversing immune system suppression by binding chitinase 3-like-1 (CHi3L1) polypeptides with Ocean Biomedical’s proprietary immunoglobulin antibody. This process has been shown to suppress primary and metastatic tumor growth in multiple animal models and has potential use in multiple forms of visceral cancers.

Ocean Biomedical’s monoclonal antibody is one component of a unique oncology platform that is building multiple approaches to activating natural anticancer immune responses by suppressing CHi3L1, with potential for broad application. The patent has been granted for prostate cancer, colon cancer, rectal cancer, ovarian cancer, kidney cancer, breast cancer, glioblastoma, melanoma, and lung cancer. The newest claims dovetail issued patents with claims coverage focused on composition of matter of monoclonal antibodies targeting and inhibiting CHi3L1.

“This pathway discovery is an unprecedented leap forward, because if you control CHi3L1, you don’t just control one anti-cancer pathway, you simultaneously control many anti-cancer pathways,” said Dr. Elias. “We are making discoveries that we believe will drive cancer research, and eventually treatment and patient outcomes, forward.”

“We are excited to see Dr. Elias’ work receive this important patent, and we are working on the systematic steps needed to progress the anti-CHi3L1 antibodies into the clinic to potentially become impactful new cancer therapeutics,” commented Ocean Biomedical’s CEO, Elizabeth Ng.

“These discoveries have the potential to save thousands of lives of people affected not just by lung metastasis, and melanoma, but also glioblastoma and other forms of cancer,” commented Dr. Chirinjeev Kathuria, Ocean Biomedical’s co-founder and Executive Chairman.

Dr. Jack A. Elias is the former Chair of Yale’s Department of Internal Medicine, Dean Emeritus of Medicine and Biological Sciences at Brown University, and current Professor of Translational Science, Medicine and Molecular Microbiology and Immunology at The Warren Alpert Medical School of Brown University. He is a leading pulmonary care specialist and research pioneer. In 2019, Dr. Elias co-founded Ocean Biomedical with several Brown University colleagues, alums, and experienced pharma business leaders to help address major unmet medical needs by accelerating more discovery science into needed therapeutics.

About Cancer Immunotherapy

Immunotherapy is an evolving approach to cancer therapeutics that enhances traditional treatments by activating a person’s own immune system to fight cancer. Immunotherapy can boost the immune system to find and attack cancer cells. Monoclonal antibodies are immune system proteins created to bind to specific targets on cancer cells or cells in the tumor growth environment. Ocean Biomedical’s monoclonal antibody targets a polypeptide (CHi3L1) that is associated with accelerated tumor growth in a wide range of cancers. By suppressing CHi3L1, Ocean Biomedical has been able to suppress primary and metastatic tumor growth in multiple animal models. As reflected in the newly issued patent, this unique immunotherapy approach has potential use in multiple forms of visceral cancers.

About Ocean Biomedical

Ocean Biomedical, Inc. is a Providence, Rhode Island-based biopharma company with an innovative business model that accelerates the development and commercialization of scientifically compelling assets from research universities and medical centers. Ocean Biomedical deploys the funding and expertise to move new therapeutic candidates efficiently from the laboratory to the clinic, to the world. Ocean Biomedical is currently developing five promising discoveries that have the potential to achieve life-changing outcomes in lung cancer, brain cancer, pulmonary fibrosis, and the prevention and treatment of malaria. The Ocean Biomedical team is working on solving some of the world’s toughest problems, for the people who need it most.

To learn more, visit www.oceanbiomedical.com.

Forward-Looking Statements

The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. These forward-looking statements include but are not limited to: the expected timing and success of investigational new drug (“IND”) filings for our initial product candidates; statements regarding the expected timing of our IND-enabling studies; the frequency and timing of filing additional INDs; expectations regarding the availability and addition of future assets to our pipeline; the advantages of any of our pipeline assets and platforms; the potential benefits of our product candidates; potential commercial opportunities; the timing of key milestones for our programs; the future financial condition, results of operations, business strategy and plans, and objectives of management for future strategy and operations; and statements about industry trends and other companies in the industry. These forward-looking statements are based on various assumptions, whether or not identified herein, and on the current expectations of the management of Ocean Biomedical, Inc. (the “Company”), and they are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions.

Any discoveries announced by the Company are based solely on laboratory and animal studies. The Company has not conducted any studies that show similar efficacy or safety in humans. There can be no assurances that any treatment tested by the Company will prove safe or effective in humans, and any clinical benefit of any such treatment is subject to clinical trials and ultimate approval of its use in patients by the FDA. Such approval, if granted, could be years away.

Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside the control of the Company that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. You should carefully consider the foregoing factors and the other risks and uncertainties that are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, and in other documents to be filed by the Company from time to time with the SEC and which are and will be available at www.sec.gov. These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. We do not undertake any obligation to update any forward-looking statements made by us. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this filing. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Ocean Biomedical Investor RelationsOCEANIR@westwicke.com

Ocean Biomedical Media RelationsOCEANPR@westwicke.com

Kevin KertscherCommunications Director