Dear Investors

Since the start of 2020, we have all had to adjust to new living, learning and working environments that the COVID-19 pandemic has imposed upon us with little or no warning. Some of you may be familiar with the last major pandemic that came in the form of the Spanish Flu. It came over a century ago, infected 500 million people – close to 30% of the population – and led to 50 million deaths. At a current world population just shy of 8 billion, the very grim prospect of COVID-19 developing into a similar global health disaster is unacceptable. Globally, the infection that has infected almost 300 million people with close to 5.5 million deaths leaves no room for complacency. The pandemic ravages through North and South Americas, Indian subcontinent and Africa with still unimaginable consequences. Elsewhere, the sense of relief witnessed after relaxation of strict isolation protocols has only been savagely eclipsed by significant second, third and now a fourth surge. In this surreal twilight, it is impossible to say if the night is approaching or has passed us by.

In the endeavour to return to a sense of normality, neither a continued sense of utter hopelessness nor a wishful and reassuring indulgence that this crisis will simply and miraculously disappear are at all helpful. Instead, we must proactively search for a treatment solution that will combat COVID-19 and save lives. Notwithstanding primary infections and long-COVID, this now means far more than simply restoring an individual to health. The added impact of failing economies on livelihoods and mental health is becoming incalculable. It is with a spirit of necessary and passionate optimism that our group of professionals were brought together in early 2020 to focus on repurposing existing therapeutics for COVID-19. Through months of trial and tribulation since then, and with an expanded team, we are delighted to have now identified a portfolio of antiviral and anti- inflammatory drug candidates that we believe will provide the effective treatment strategy for this pandemic.