Ocean Biomedical Extends Agreement with Polar Multi-Strategy Master Fund to Enhance Capital Access

Ocean Biomedical, a biopharma company based in Providence, Rhode Island, has announced an amendment to its agreement with Polar Multi-Strategy Master Fund. Polar has been a long-time financing partner of Ocean Biomedical and has shown continuous support for the company’s mission to deliver lifesaving treatments in the areas of oncology, fibrosis, and infectious disease.

The amendment to the Forward Shares Purchase Agreement provides Ocean Biomedical with additional flexibility to access capital as market conditions fluctuate. It also narrows the circumstances under which Polar could terminate the agreement before its prescribed termination date. This amendment demonstrates Polar’s commitment to Ocean Biomedical’s success and highlights their confidence in the company’s potential.

Chirinjeev Kathuria, Executive Chairman and co-founder of Ocean Biomedical, expressed his pleasure in having Polar as a long-term investor and partner. He emphasized Polar’s excitement about the company’s potential to develop groundbreaking treatments and their commitment to supporting Ocean Biomedical’s clinical mission.

Ocean Biomedical is known for its innovative business model, which focuses on accelerating the development and commercialization of scientifically compelling assets from research universities and medical centers. Currently, the company is working on five promising discoveries that have the potential to bring about life-changing outcomes in lung cancer, brain cancer, pulmonary fibrosis, and the prevention and treatment of malaria.

With the support of Polar and its affiliates, Ocean Biomedical aims to continue solving some of the world’s toughest healthcare challenges. The company’s dedicated team is working tirelessly to move new therapeutic candidates efficiently from the laboratory to the clinic, ultimately benefiting those who need it most.

For more information about Ocean Biomedical and its groundbreaking work, please visit their website at www.oceanbiomedical.com.