Hydreight invests $300,000 in Insu Therapeutics

Executive Summary

• Hydreight Technologies Inc. announced a strategic investment in Insu Therapeutics Inc., a biopharmaceutical company developing a patent-pending buccal (needle-free) drug-delivery platform for complex peptide therapeutics, including insulin and GLP-1 receptor agonists like semaglutide.
• The transaction involves Hydreight acquiring 800,000 units of Insu for an aggregate consideration of $300,000, structured as 50% cash and 50% in Hydreight common shares.
• Insu has completed Phase I in-vitro studies and received Research Ethics Board approval from the University of British Columbia to initiate Phase II animal studies, aiming to validate pharmacokinetic exposure comparable to injectable formats.

Key Details

• Transaction Structure: Hydreight entered into a subscription agreement on March 4, 2026, to acquire 800,000 units of Insu Therapeutics.
• Consideration: The aggregate investment is $300,000, satisfied 50% in cash ($150,000) and 50% in common shares of Hydreight (37,037 shares issued at a deemed price of $4.05 per share).
• Instrument Terms: Each unit consists of one common share of Insu and one common share purchase warrant. Each warrant allows the holder to acquire one additional Insu share at an exercise price of $1.00 per share for a period of two years from issuance.
• Regulatory Status: The transaction is subject to approval of the TSX Venture Exchange.
• Related Party Disclosure: Victory Square Technologies Inc. is a control person of both Hydreight and Insu, making them non-arm's-length parties. The transaction relies on exemptions under Multilateral Instrument 61-101 (MI 61-101) regarding formal valuation and minority approval requirements, as the consideration does not exceed 25% of Hydreight's market capitalization and no new control person is created.
• Insu Therapeutics Progress:
  • Completed Phase I in-vitro release and pharmacokinetic studies for its buccal semaglutide formulation.
  • Received Research Ethics Board (REB) approval from the University of British Columbia to initiate Phase II studies in animal models.
  • Phase II studies will assess pharmacokinetics, systemic blood levels, and performance under chronic administration.
  • The semaglutide used in research is innovator-manufactured by Novo Nordisk.
• Technology Platform: Insu’s proprietary mucoadhesive, unidirectional buccal tablet platform is designed to absorb peptides through the buccal mucosa, bypassing gastrointestinal degradation and first-pass liver metabolism.
• Strategic Rationale: Hydreight aims to leverage its 50-state telehealth and pharmacy network (VSDHOne platform) to potentially commercialize Insu’s needle-free peptide products in the U.S. market, targeting high-growth verticals such as weight management, longevity, and metabolic health.
• Market Context: The global peptide therapeutics market exceeds $40 billion (U.S.), with significant demand for non-injectable delivery formats to improve patient adherence.

Notable Quotes

• Dr. Anubhav Pratap-Singh, Scientific Adviser to Insu Therapeutics: "If buccal delivery can consistently achieve systemic exposure profiles comparable to injectable formats, it has the potential to fundamentally change how complex peptide therapies are administered. Our research is focused on rigorously evaluating pharmacokinetics and bioavailability to determine whether injection-level performance can be achieved through a non-invasive delivery pathway -- which could significantly expand patient adoption across multiple peptide-based therapies."
• Shane Madden, CEO of Hydreight: "Hydreight is focused on building more than infrastructure -- we are building long-term strategic leverage through technology and product alignment. Insu's delivery approach represents the type of innovation that can potentially reshape how peptide-based therapies are administered. If successfully developed and approved, the ability to commercialize such products through our 50-state network would represent a meaningful strategic advantage for Hydreight."