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Ocean Biomedical presented a novel malaria treatment approach at the NIH, highlighted by Scientific Co-founder Dr. Jonathan Kurtis. His findings on the PfGARP protein reveal its potential to regulate malaria parasite density, leading to self-killing. Utilizing a Whole Proteome Differential Screening method, the team has identified three promising vaccine candidates and small molecules that activate PfGARP, demonstrating non-toxicity and rapid parasitemia clearance in animal models. With malaria being a leading cause of childhood death, the company aims to advance these discoveries into effective therapeutics and vaccines.
Ocean Biomedical (NASDAQ: OCEA) has announced the initiation of equity analyst coverage by Fundamental Research Corp. with a ‘Buy’ recommendation. This marks a significant endorsement as the company focuses on developing therapeutic solutions in oncology, fibrosis, and infectious diseases. Ocean Biomedical's core assets are backed by over $123.9 million in past and ongoing grants, highlighting strong financial support for its innovative research and development efforts.
Dr. Chirinjeev Kathuria, co-founder and Chairman, expressed optimism about this support, while Director Suren Ajjarapu reiterated the importance of addressing crucial health challenges facing humanity.
Ocean Biomedical (NASDAQ: OCEA) announced on March 14, 2023, the initiation of equity analyst coverage by EF Hutton with a "Buy" recommendation. Co-founder Dr. Chirinjeev Kathuria expressed gratitude for the recognition of their platforms in oncology, fibrosis, and infectious diseases, which aim to improve patient outcomes. Ocean Biomedical has developed assets with $123.9 million in grants, focusing on innovative therapies for conditions such as lung cancer and malaria. EF Hutton's report is available directly from them. Ocean Biomedical cautions that the statements in the report do not guarantee future performance or results.
Ocean Biomedical (NASDAQ: OCEA) showcased potential tumor suppression therapies at a recent presentation by Scientific Co-founder, Dr. Jack A. Elias, at the Legorreta Cancer Center. The focus was on the role of Chitinase 3-like-1 (CHI3L1) in lung cancer and glioblastoma. His lab's research emphasizes the efficacy of monospecific and bispecific antibodies against CHI3L1 and PD-1. Ocean is advancing these discoveries towards Phase 1 clinical trials. Dr. Elias highlighted that controlling CHI3L1 regulates multiple anti-cancer pathways, which could significantly improve treatment outcomes across various cancers, including non-small cell lung cancer and melanoma.
Ocean Biomedical (NASDAQ:OCEA) has been awarded a new patent for the discovery of PfCDPK-5, a third target for malaria vaccine development, enhancing the potential efficacy of treatments against malaria. This patent builds on previous research regarding PfGARP and PfSEA, aiming to control malaria at multiple lifecycle stages. Malaria remains a significant health threat, causing approximately 627,000 deaths in 2022. The company is also developing small molecule drugs to combat drug-resistant malaria strains. The effective development of this vaccine could significantly impact global health outcomes and shareholder value, pending successful clinical trials and approvals.
Ocean Biomedical announced its official trading debut on Nasdaq under the ticker symbol OCEA on February 15, 2023. The company aims to address unmet medical needs in oncology, pulmonary fibrosis, and infectious diseases through innovative treatments. Co-founder Dr. Chirinjeev Kathuria emphasized that the Nasdaq listing will help secure funding for new medicines globally. The company has raised $123.9 million in past and ongoing grants to develop its core portfolio of drug and vaccine candidates. The company has ambitions to transform scientific discoveries into clinical realities for patients.
Ocean Biomedical has completed its business combination with Aesther Healthcare Acquisition Corp, officially commencing trading on Nasdaq under the ticker symbol OCEA. The transaction, approved by Aesther's shareholders on February 3, 2023, includes a $60 million backstop from Vellar Opportunity Fund SPV LLC and a Common Stock Purchase Agreement with White Lion Capital to raise up to $75 million. Ocean Biomedical aims to accelerate the development of its drug pipeline focused on oncology, pulmonary fibrosis, and infectious diseases, backed by $123.9 million in past grants, targeting significant unmet medical needs.
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