Based on a world-class R&D engine, Lycera has built a robust proprietary pipeline of selective immune modulators for the treatment of autoimmune diseases. The Company’s lead program LYC-30937-EC completed Phase 1 clinical testing in healthy volunteers in December 2015. Lycera completed a Phase 2 study in psoriasis to determine if gut directed ATPase modulators can treat peripheral autoimmune disease by depleting chronically activated T-cells that may traffic through the gut. Lycera announced the initiation of a Phase 2 randomized, placebo controlled clinical trial for LYC-30937-EC, in patients with moderate to severe ulcerative colitis (UC). In 2018, Lycera expects to complete the study and announce the results at a future IBD medical meeting later in the year.