Xeno has a disruptive approach to treating obesity and diabetes that mimics gastric bypass surgery using a simple enteric-coated pill. It induces microbiome changes like the surgery resulting in weight loss as shown both in animals and in pilot human studies. It will also be effective in other co-morbidities. We have completed IND-enabling studies. Proceeds will be used for a Phase I study with both safety and weight loss efficacy endpoints.