[Trapper John]

I Have developed a new drug candidate that can be transformative in the fibrotic diseases and oncology markets (see attachment). We are preparing to enter the clinical phase of drug development. This necessitates raising outside capital. The commercial arm of our bank, Univest. Put us in touch with their investment arm, Univest Securities, LLC.

We received an engagement letter from them and over the last 2 months they identified a source to provide our Series A round ($18M) and we began deal structure negotiations and due diligence. We learned that the capital source was a Chinese company. Consequently, we backed out of the deal and the relationship with Univest.
I am posting this to point out yet another arm of the war that is in process with our primary adversary.