Ocean Biomedical, a preclinical biotech developing therapies for cancer, infections, and other diseases, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
Ocean Biomedical seeks to bridge the "bench-to-bedside" gap by leveraging its strong relationships with research universities to license and develop technology to treat various diseases. The company is currently pursuing preclinical programs in oncology, fibrosis, infectious disease, and inflammation that have been licensed directly or indirectly from Brown University, Stanford University, and Rhode Island Hospital. Ocean Biomedical's preclinical pipeline includes various humanized monoclonal antibodies for the treatment of non-small cell lung cancer and glioblastoma multiforme, a small molecule for the treatment of Idiopathic Pulmonary Fibrosis, a malaria vaccine, and two malaria therapeutics. The company has also licensed Ang 1-7, a COVID-19 therapeutic for which licensor Stanford University has submitted an IND and expects to commence clinical trials in the second half of 2021.
The Providence, RI-based company was founded in 2019 and plans to list on the Nasdaq under the symbol OCEA. Ocean Biomedical filed confidentially on March 5, 2021. Berenberg, Oppenheimer & Co., LifeSci Capital, Ladenburg Thalmann, Brookline Capital Markets, and Roth Capital are the joint bookrunners on the deal. No pricing terms were disclosed.
