Ocean Biomedical is a preclinical-stage biopharmaceutical company that licenses early-stage drug discoveries from academic institutions and develops them into therapies. The company has no approved products and generates no revenue. Its pipeline of seven candidates was exclusively sourced from research by two scientific co-founders at Brown University and Rhode Island Hospital, covering three therapeutic areas: oncology, fibrosis, and malaria. The oncology candidates target the Chi3l1 protein in non-small cell lung cancer and glioblastoma; the fibrosis candidate targets the Chit1 enzyme for idiopathic pulmonary fibrosis and a rare inherited disorder; and the malaria candidates target two novel antigens discovered through a proprietary screening platform. All programs remain in preclinical development, and no IND filings have been made. Ocean Biomedical's business model has two core elements. First, it licenses discoveries from universities rather than conducting its own basic research, structuring each program in a separate subsidiary and offering institutions and researchers a 20% equity stake in each — which Ocean Biomedical argues is more attractive than standard royalty-based licensing deals. Second, it outsources all R&D activity to CROs and CMOs, keeping fixed costs low. The company intends to advance programs to key milestones, then partner, license, or spin out individual subsidiaries. Ocean Biomedical's ability to execute depends entirely on raising external capital.