PYN9 is a preclinical candidate for the treatment of post operative ileus ('POI'), developed in China by Botanic Century (Beijing) Ltd ('BCCL'), a botanical drug development company in which Phynova has a 45% equity stake. POI is a form of bowel obstruction/hypomotility associated with surgery and/or the use of opiate pain killers that is widely seen after abdominal surgery and is an important cause of post-operative morbidity and delayed hospital discharge. BCCL’s candidate has shown promising efficacy in preclinical studies targeting increased bowel movement in conditions where the bowel motility has been impaired. BCCL has filed an IND to begin clinical studies in China. Once regulatory approval to begin a clinical study is given, BCCL expects to complete the clinical phase of development within 2 years. Phynova is currently exploring the potential for PYN9 in markets outside China.