BridgeBio Oncology Therapeutics, Inc.

Item 1. Legal Proceedings.

Except as discussed below, as of the date of this Form 10-Q, we are not currently a party to any material legal proceedings. From time to time, in the ordinary course of business, we may become involved in legal proceedings. Regardless of the outcome, litigation could have a material adverse effect on us due to defense and settlement costs, diversion of management resources, negative publicity, reputational harm, and other factors, and there can be no assurances that favorable outcomes will be obtained.

In September 2016, we entered into the UCSF License Agreement with The Regents of the University of California, San Francisco for an exclusive license to certain compounds. Although the UCSF License Agreement was terminated in June 2021, certain of its terms survived, including one calling for a payment that would become due to UCSF upon the occurrence of a change of control or an initial public offering, as those events are contractually defined in the UCSF License Agreement (the “Indexed Milestone Payment”). Since April 2025, we have received periodic communications from UCSF stating that, in the future, the Indexed Milestone Payment in an amount less than $5.0 million is or will become due on an unspecified date following the Closing Date of the Business Combination Agreement. We disagree with UCSF’s interpretation of the terminated UCSF License Agreement and believe that no such payment is due now or will be due in the future.