Mr. Shafin Tejani reports

VICTORY SQUARE COMPANY ANNOUNCES ACCESS TO TIRZEPATIDE AND GLP-1 INJECTIONS TO ITS WEIGHT LOSS PORTFOLIO

Victory Square Technologies Inc.'s portfolio company Hydreight Technologies Inc.'s over 3,000 nurses, 107 white-label locations and their patients now have access to tirzepatide through the Hydreight platform and its associated medical network in over 700 cities across 50 states in the United States.

Tirzepatide is a Food and Drug Administration-approved medicine used to treat Type 2 diabetes mellitus and may be used off-label for the treatment of obesity due to its effective weight loss qualities. It functions as a dual GLP-1 and GIP agonist. Similar to other GLP-1 medicines, it is currently used as a second-line diabetic treatment and administered as a once-weekly subcutaneous injection. Tirzepatide is in the same product line as semaglutide, which Hydreight launched at the end of 2023. Tirzepatide and semaglutide injections are commonly used to treat Type 2 diabetes. It can also be used together with diet and exercise to help control blood sugar and has become popular to help with weight management. Tirzepatide and semaglutide are glucagon-like peptide-1 (GLP-1) receptor agonists and are only available with a doctor's prescription and need to be injected on a regular basis.

Since the beginning of the year, the company has seen significant growth and increased demand for its semaglutide offering. Between January and February, there was a 250-plus-per-cent increase in the number of semaglutide orders. Semaglutide is injected on a monthly basis, and due to the recurring nature, the company expects to see continued monthly growth.

Obesity, characterized by abnormal or excessive fat accumulation that poses risks to both physical and mental health, has nearly tripled worldwide since 1975, according to the World Health Organization (WHO). Currently, it ranks as the fifth-leading risk factor for mortality globally. Factors such as dietary habits, physical activity levels and genetics contribute to the rising obesity rates, which are expected to continue increasing. According to the World Obesity Atlas 2023, if current trends persist, over half of the global population will be overweight or obese by 2035, compared with 38 per cent in 2020.

According to Goldman Sachs, it is projected that by 2030, the global market for anti-obesity medications (AOMs) could grow by more than 16 times to $100-billion. Based on current trends, over half of the global population will be overweight or obese by 2035, compared with 38 per cent in 2020, according to a World Obesity Atlas 2023 forecast.

"In our view, the chronic weight management market is at a turning point, with growth potential on the horizon. Weight loss and diabetes may just be the beginning for drugs like semaglutide and tirzepatide, as reports increasingly suggest they may have far-reaching benefits for treating conditions as diverse as heart and liver disease, Parkinson's, anxiety, and addiction, sparking research among firms competing in pharma's latest gold rush," said Shane Madden, chief executive officer of Hydreight.

The company's product offering aims to include various products and category options to ensure the customers' needs are met. Hydreight is adding higher-priced products that need to be taken on a continuing basis, which is more lucrative for the nurses. Every time a product is added, nurses must go through extensive training and onboarding to ensure the product is administered safely and correctly. All these products allow health care providers using the Hydreight platform to provide a higher level of medicine and provide a pathway to shift into medical essentials.

Hydreight recently filed its audited financial statement for 2023, and achieved adjusted record revenue of $17.05-million, an increase of 102 per cent compared with 2022. Full financials can be found on SEDAR+.

Victory Square investor webinar with CEO Shafin Diamond Tejani

The company invites you to May's question-and-answer investor webinar with CEO Mr. Tejani.

Please see details for the webinar below:

Date: Thursday, May 23, 2024

Time: 12:15 p.m. PDT to 1 p.m. PDT (3:15 p.m. EDT to 4 p.m. EDT)

Location: via Zoom

About Victory Square Technologies Inc.

Victory Square is a venture builder that provides investors a liquid way to invest in early-stage technology companies without buying a venture fund that requires accredited investor status or multiyear commitments.

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