Hello Venomyx Investors,

I hope that each of you has been safe and stable through everything 2020 has brought our way. We must continue to hold out hope for a safe and effective vaccine as well as slow and steady economic growth.

I'm happy to report that we have taken recent events in stride and continue to push forward with our R&D and business development. We continue to seek out a lead investor for our next round which has been challenging even before the current economic uncertainty. We have come to the realization that our space is a difficult fit for most domestic VC firms and our best strategy is to open conversations with Family Offices and continue conversations with our potential strategic partners. We will be able to update on these talks as we get closer to decisions.

To diversify our funding approach, we have just submitted an R01 NIH grant alongside our UCSD collaborators which, if accepted, would fund us for the next 5 years and de-risk us as an investment for private capital. This is in addition to the SBIR grant we re-submitted last month after addressing reviewers comments. We plan to submit one more grant to investigate the pharmacological potential for some of the venom toxins themselves in the treatment areas of cancer, stroke, heart disease, and pain.

Most recently we have generated one of our last anti-toxins necessary to give the final product broad-spectrum efficacy. All in all, we are keeping our head down and eyes forward to get our antivenom candidate into the clinic and if all goes well that should be late 2021 or early 2022. Your interest and support has provided us with this opportunity to bring change to the snakebite space and that's what we intend to do! 

Onwards and upwards,

Dan Dempsey, CEO