Caledon Biosciences is a privately held, start-up founded in October 2023. Caledon owns the key assets, management and operations of a former NASDAQ listed entity, Liminal BioSciences Inc, which was recently delisted and taken private. Based in Canada with operations in the UK, we currently have a sole Seed investor, Thomvest Asset Management, and are seeking to expand our investor base, bringing in a new lead investor and potentially a small syndicate to take us to the next stage of development. Thomvest have signified an intent to invest further. Our pipeline consists of 3, GPCR-based, small molecule programs targeting inflammation, fibrosis and metabolic disease. The pipeline is preclinical, with our lead asset entering the clinic in December 2023. We believe that we represent an interesting value proposition with near-term value inflection points through upcoming data and potential for business development activity.