PYC Therapeutics announced a second quarter update highlighting the progress of its development pipeline, growth of its U.S. operations and upcoming milestones. The company made significant progress during the second quarter across lead eye programs but also for the first time expanding application of the company's RNA therapeutic technology beyond the eye. For VP-001 for the treatment of retinitis pigmentosa type 11, the commencement of larger animal studies was a critical step towards Investigational New Drug (IND) filing which is on-track for mid-2022. For VP-002, comprehensive preclinical data released during the quarter demonstrated this program's potential to generate the first disease-modifying treatment for autosomal dominant optic atrophy, addressing a significant unmet patient need and a multi-billion dollar market opportunity. Beyond the eye, PYC reported preclinical results early in the quarter showing the promising potential of the company's PPMO technology platform to address diseases of the central nervous system, opening up a very large and underserved market opportunity. During the quarter, the company also continued to expand its presence in the United States naming a new U.S. headquarters in the thriving biotech hub of San Diego, recruiting top-tier drug development talent and deepening engagement with potential investors and business development partners. Presence in the U.S. is critical for the Company to accelerate program development and maximize the impact of upcoming value catalysts. Recent Achievements: Inherited Ocular Diseases: Commenced key rabbit studies for lead candidate VP-001 for the treatment of retinitis pigmentosa 11. Data from larger animal studies are expected in the second half of 2021, and will enable PYC to move toward regulatory engagement for the VP-001 program and initiate the final step of preclinical development with formal Good Laboratory Practice (GLP) toxicity studies. The Company remains on track to file an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) in mid-2022 before entering clinical trials. Announced comprehensive preclinical results demonstrating potential for VP-002 to become the first disease-modifying therapy for the treatment of autosomal dominant optic atrophy (ADOA). The majority of ADOA cases are caused by loss of function mutations in the OPA1 gene. PYC's preclinical studies have found that the Company's PPMO technology used in VP-002 significantly increased levels of OPA1 protein, corrected major functional deficits that underly ADOA, and demonstrated an ability to reach the target cells in the retina, a key barrier facing other potential treatments for the condition. These data support continued development of the program toward clinical trials, and the Company expects to file an IND with the U.S. FDA in the first half of 2023. Advanced its ocular pipeline discovery efforts. PYC is cultivating a rich pipeline of novel development candidates to address additional ocular diseases. The Company expects to unveil additional development candidates for the treatment of high unmet need ocular indications during 2021.Central Nervous System (CNS) Diseases: Demonstrated superior ability of PPMO technology to deliver high levels of RNA therapeutic throughout the brain. In April, PYC announced preclinical results demonstrating its PPMO technology has significant potential to provide therapies for patients with neurodegenerative diseases. This is an important expansion of the application of PYC's technology beyond the eye, and demonstrates the broad potential of the platform to change the lives of patients with inherited diseases. Building on these data, the company expects to nominate a candidate targeting a high unmet need neurodegenerative condition in 2021.