Lipella is a clinical-stage biotechnology company that focuses on developing new drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for new applications. The company believes that this strategy combines many of the cost efficiencies and risk abatements derived from using existing generic drugs with potential patent protections for its proprietary formulations. This strategy allows Lipella to expedite, protect, and monetize its product candidates. Additionally, the company maintains a therapeutic focus on diseases with significant, unaddressed morbidity and mortality where no approved drug therapy currently exists. Lipella believes that this focus can potentially help reduce the cost, time, and risk associated with obtaining marketing approval.