We are a clinical stage biopharmaceutical company that is in the process of developing Apitox, an intradermally administered bee venom-based toxin which potentially exhibits diverse therapeutic effects. Apitox is currently marketed and sold by Apimeds Inc. (“Apimeds Korea”) in the South Korea as “Apitoxin.” Apimeds US is not associated with the market, sale and revenues generated from Apitoxin in South Korea, and Apitoxin has not been approved by the U.S. Food and Drug Administration (the “FDA”) for any indication. Apimeds is currently developing Apitox as a potential osteoarthritis (“OA”) treatment for patients with knee pain who failed to respond adequately to conservative non-pharmacologic therapy and simple analgesics.
