Kaydence Pharma is developing a novel drug candidate to treat vascular calcification, a major complication impacting 20+ million CKD patients (current focus.) There are no currently available treatments. Current position: successful Pre-IND meeting; proof-of-concept data in renal patients, IP protection, established safety data. Our plan: completion of IND submission, phase 1b and phase 2 clinicals in 40 months followed by out-licensing or sale.