NAL Pharma is a specialty drug developer that develops novel dosage forms and proprietary drug delivery systems based on the Company’s captive Bio-D3, Bio-FX, Bio-CR, Bio-NN, and Bio-MM Drug Delivery System (“DDS”) technologies. Headquartered in Hong Kong and with operation in the United States, NAL is developing non-infringing, proprietary and improved drug delivery systems that exhibit enhanced patient-compliance, safety, and/or efficacy compared with existing pharmaceutical products, and is also developing specially designed delivery systems to improve conventional dosage forms of new drugs undergoing Phase 2 clinical development that show significant first-pass metabolism side effects, poor solubility, and poor bioavailability. As the US operation of NAL, Galaxy Bio, Inc. ("GBI") has established a captive R&D Laboratory in Princeton, New Jersey, USA for the development of afore-mentioned NAL's innovative and proprietary DDS products. Combining established product formulation and manufacturing development expertise, NAL has developed a number of non-infringing, proprietary and improved therapeutic products that incorporate patent-expiring drugs. NAL is working with major consumer healthcare companies to extend the life cycle of patent expiring drugs for the Rx-to-OTC switch. NAL is also working with major pharmaceutical companies to improve the formulations of their NCE drugs under development, in an effort to develop the most effective delivery systems based on NAL’s proprietary DDS Technologies.