Ocean Biomedical, Inc. (NASDAQ: OCEA) is a preclinical biotechnology company focused on efficiently advancing novel therapeutic candidates from the laboratory to the clinic. The company is currently developing five clinical-stage discoveries that have the potential to deliver breakthrough results in cancer, pulmonary fibrosis and malaria.
Quick Facts
Ocean Biomedical relies on its Licensing and Subsidiary Structure to create mutual value for shareholders and licensing partners. It was founded by Dr. Chirinjeev Kathuria, who is also the Executive Chairman. Elizabeth Ng serves as CEO. The company became a public company in February 2023 and shares are traded on the Nasdaq stock exchange under the symbol OCEA. It is headquartered in Providence, Rhode Island. Under its unique business model, Ocean Biomedical seeks to accelerate the development and commercialization of therapeutic candidates from research universities and medical centers.
Focus
The company focuses on preclinical programs with the potential for broad application in the treatment of malaria, fibrosis and various cancers.
Cancer program: These include immunotherapies for lung, brain and other cancers. At the same time, scientists are trying to understand the comprehensive anti-tumor mechanisms behind the anti-CHi3L1 discoveries. Anti-CHi3L1 has been shown to be effective in treating brain cancer, causing a 60 percent reduction in tumor growth in the human glioblastoma multiforme stem cell model in vivo.
Malaria program: The Company is seeking solutions to address the urgent global need to develop more effective therapies to treat malaria. This includes increasing the knowledge and control of the mechanisms by which its PfGARP antigen induces death of the malaria parasite, as well as optimizing/developing an mRNA vaccine candidate based on the discoveries of PfGARP, PfSEA and another antigen that may be able to simultaneously attack the malaria parasite at different stages of the blood cycle.
Fibrosis Program: This program addresses standard of care and treatment options for patients suffering from idiopathic pulmonary fibrosis. There is evidence that Ocean Biomedical’s candidate for treating IPF may also be effective against other fibrotic diseases. Progress made in the program includes testing of the antifibrotic treatment candidate OCF-203, which resulted in impressive fibrosis reductions in several models, reducing collagen accumulation by 85 to 90%.
Latest developments
A few months ago, Ocean Biomedical’s joint venture partner Virion Therapeutics presented the first-ever human immunogenicity data from its novel checkpoint modifier immunotherapy for functional cure of HBV. Virion is a clinical-stage biotechnology company developing novel T-cell-based immunotherapies. Previously, the company’s scientific co-founder, Dr. Jonathan Kurti, was granted a new patent for his discoveries on antibodies for malaria therapy aimed at both preventing malaria infection and treating severe malaria.
Diploma
Ocean Biomedical is well positioned to capitalize on the growing demand for new and effective pharmaceutical products, driven in part by the aging population. The pharmaceutical industry is experiencing rapid digitization of the drug development process, a trend that may impact the company’s clinical trials and their results. Although Ocean Biomedical has an effective business model, its future success depends on how the company handles growing competition.
