The Cyrano team has developed a unique, proprietary intranasal product to restore function in patients with a chronic loss of taste and smell. This is a condition affecting at least 14 million people in the US and a similar number in Europe, having a significant impact on safety, quality of life and well-being. Currently no marketed therapy exists and aside from the Cyrano product, none are in the pipeline. Cyrano has established the IP estate with the assistance of Wilson Sonsini. Key patents have been issued. The Cyrano product (CYR-001) repurposes an approved molecule (Theophylline) for this new indication and has been tested with success in a pilot study. Eight out of the 10 patients treated had significant improvement in taste and smell within 2 weeks with no reported side effects. The primary treatment provider will be the Otolaryngologist (Ear, Nose, and Throat specialist) and credible clinical investigators in this specialty have been identified and have expressed interest in participating in the clinical program. Currently we are seeking a partner to fund up to $5M to fund a Phase 2A study to determine an optimal dose and validate the therapy in a double-blind randomized setting. A Pre-IND meeting with FDA has been held and their positive feedback has been incorporated into the plan. Given the 505(b)(2) regulatory pathway, the company expects the pathway to market to be accelerated.