We are an exempted company with limited liability incorporated under the laws of the Cayman Islands, which is structured as a holding company whose main business operations are conducted through our subsidiaries in Switzerland and to a lesser extent, HK SAR, the People’s Republic of China and Australia. We are a biotechnology company spearheading the development of oral (specifically, sublingual) delivery of peptides and proteins. Many of the more effective drugs to treat diabetes and obesity are “biologics”, the vast majority of which currently have to be injected. For example, although insulin was discovered almost 100 years ago, there has, to date, not been any commercially viable solution to administer insulin without the need for injection. Consistent with this, the delivery of peptides or proteins, such as insulin, in a non-invasive way (i.e. without needles or injections) is a very challenging endeavor from a scientific and technical perspective. Since our inception, we have focused on developing an alternative approach, known as sublingual delivery. The sublingual area lies under the tongue and is lined by a thin layer of cells which has a rich supply of blood vessels. Sublingual delivery has been successfully used commercially for many years to deliver a variety of so-called small molecule drugs, such as glyceryl trinitrate and ondansetron, which can readily penetrate this layer of cells to rapidly enter the blood stream. We hypothesized that we could similarly exploit the unique nature of the sublingual area to effectively deliver peptides and proteins, and this subsequently became the focus of our research. The main peptide used to improve the technology was exenatide, which was the first commercial glucagon-like peptide (GLP-1) receptor protein product and is routinely used to treat type 2 diabetes. During our first series of studies with exenatide, the sublingual dose required was almost 200 times the injectable dose to achieve a similar effect. After 2 to 3 years of extensive development, we were able to reduce this ratio to 5 to 10, and we now have a “platform” of formulations (the “BioLingus Platform”) and expertise on how formulations should be designed for better performance. During the course of our research and testing of various peptides and proteins across several different disease indications, it has become clear to us that there are two areas for our technology with significant commercial potential: . Metabolic disease, in particular diabetes and obesity and related metabolic disorders such as nonalcoholic steatohepatitis (“NASH”); and . Immunology (mainly allergy and auto-immune disorders)(1). (1) A perpetual and irrevocable license has been granted to all non-metabolic applications from BioLingus IP GmbH to BioLingus IP II GmbH. BioLingus IP GmbH only holds the rights to the metabolic applications. In 2019, BioLingus IP II GmbH was spun-out of BioLingus IP GmbH and we no longer own BioLingus IP II GmbH. Our principal executive office is located at Grossmatt 6, CH-6052 Hergiswil NW, Switzerland. Our registered offices in the Cayman Islands are located at Ogier Global (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands.
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