We focus on intravesical liposomal therapy for urinary bladder dysfunction. Lipella currently has three research directives:

• Empty liposomes for the treatment of overactive bladder (OAB) and interstitial cystitis (IC),

• Liposomal drug delivery for the treatment of overactive bladder, and

• Liposomal drug delivery for the treatment of superficial bladder cancer.

The primary reasons for developing intravesical liposomal treatments for bladder disorders are:

• Local delivery minimizes the chance of side effects. The urinary bladder lining has the most impermeable barrier in the human body. Thus therapies delivered directly to the bladder lumen have limited opportunity for systemic distribution, and limited systemic distribution leads to limited side effects.

• Mechanisms for locally delivered therapies can be independent of existing oral therapies, and in such cases, an additive effect can potentially provide compelling co‐marketing opportunities.

• Bladder instillation is a relatively easy reimbursable office procedure. Intravesical treatments may have an added market acceptance related to physician incentives. If there are multiple options available for treatment, and one is associated with a relatively safe procedure, many physicians may be financially motivated to recommend the intravesical option.