Lomond Therapeutics Holdings, Inc. is a biopharmaceutical company focused on discovering and developing therapeutics for hematological malignancies, especially blood cancers like AML and MDS, using advanced drug design and AI/ML technologies.

# Company Summary

## Overview
- **Name:** Lomond Therapeutics Holdings, Inc. (formerly Venetian-1 Acquisition Corp.)  
- **Type:** Biopharmaceutical company  
- **Focus:** Discovery and development of therapeutics targeting hematological malignancies, primarily blood cancers such as Acute Myeloid Leukemia (AML) and Myelodysplastic Syndrome (MDS).

## Business Activities
- **Product Development:** Currently advancing multiple drug candidates, including:
  - **Lomonitinib:** A next-generation inhibitor targeting FLT3 and IRAK4 mutations relevant in AML and MDS.
  - **Licensed Products:** 
    - **Lonitoclax:** A BCL-2 inhibitor licensed from Eil Therapeutics.
    - **Early-stage Menin inhibitors:** Licensed from Bala Therapeutics.
- **Research Approach:** Uses structure-guided drug design combined with AI/ML platforms (specifically, large language models) to identify targeted therapies for cancers with resistance mutations.
- **Pipeline Focus:** Targets molecular driver oncogenes in hematologic cancers, especially FLT3 mutations, IRAK4, BCL-2, and Menin.
- **Clinical Trials:** 
  - **Lomonitinib:** In Phase 1b trial with initial data expected in Q2 2025.
  - **Lonitoclax:** Preclinical and early clinical development underway, including a healthy volunteer study with initial data announced in Q4 2024.
  - **Menin inhibitors:** Pending preclinical selection.

## Intellectual Property
- Holds patent applications and licenses for its drug candidates.
- Licenses include rights to Lonitoclax (BCL-2 inhibitor) and menin inhibitors from Eil Therapeutics and Bala Therapeutics, respectively.
- Owns patents related to its lead candidate, Lomonitinib, with expiration dates around 2042-2044.

## Market & Target Indications
- Focuses on hematological malignancies driven by mutations in FLT3, IRAK4, BCL-2, and Menin.
- Primary target is relapsed/refractory AML, especially FLT3-gatekeeper mutation cases which are resistant to existing FLT3 therapies.
- Estimated U.S. market for FLT3 AML patients: approximately 45,700 patients (7,700 previously treated and 38,000 untreated).

## Operational & Financial Status
- **Employees:** No full-time employees; operations managed via an administrative services agreement.
- **Revenue:** None reported; company is early-stage with no products on the market.
- **Income:** Operating since 2020, has incurred significant net losses; 
  - **2024 net loss:** $17.1 million
  - **2023 net loss:** $9.9 million
  - **Accumulated deficit (as of Dec 31, 2024):** $38.8 million
- **Cash & Equivalents (as of Dec 31, 2024):** $28.4 million
- **Revenue Model:** Primarily through licensing rights, R&D grants, and collaborations, not from product sales.

## Key Partnerships & Licensing
- **Eil Therapeutics & Bala Therapeutics:** Licenses for drug candidates, with related party arrangements.  
- **Viriom, Inc.:** Licenses for additional molecules in Russia, involving related-party relationships.

## Summary of Operations
- Focus on targeted oncology therapeutics specifically addressing drug resistance in hematologic cancers.
- Advanced clinical candidates with planned FDA and international regulatory filings.
- Relies on third-party manufacturing and collaborations for development and testing.
- No current sales, no products yet approved, and no revenue generated to date.

Venetian-1 Acquisition Corp. is a blank check company incorporated in Delaware with no operations or revenue as of December 31, 2023, and is seeking to identify suitable acquisition candidates.

# Summary of Venetian-1 Acquisition Corp.

**Company Overview:**
- **Incorporation:** Venetian-1 Acquisition Corp. was incorporated in the State of Delaware on September 24, 2021.
- **Business Model:** The company operates as a "blank check" company, intending to pursue a business combination with an existing company. It has made no efforts to identify potential targets as of the reporting date.
- **Current Operations:** The company has not conducted any active operations since inception and has not generated any revenue.

**Financial Information:**
- **Cash Position:** As of December 31, 2023, Venetian-1 Acquisition Corp. had $984 in cash.
- **Liabilities:** The company's total liabilities as of December 31, 2023, amounted to $103,200, comprising accounts payable, accrued expenses, and amounts due under a note payable to a stockholder.
- **Net Losses:** The company reported a net loss of $47,936 for the year ended December 31, 2023, and a net loss of $48,869 for the year ended December 31, 2022.

**Customer and Employee Data:**
- **Customers:** The company has no customers as it has not engaged in any business operations to generate revenue.
- **Employees:** Venetian-1 Acquisition Corp. has no employees. The management team consists only of directors who are also engaged in outside business interests.

**Performance Metrics:**
- **Revenue:** The company has not generated any revenue since its inception.
- **Accumulated Deficit:** As of December 31, 2023, the accumulated deficit stood at $102,716.

**Future Plans:**
- Venetian-1 Acquisition Corp. aims to identify suitable acquisition candidates to achieve long-term growth potential rather than immediate short-term earnings. The management is considering potential targets in any industry without geographical restrictions.

**Management Team:**
- **Ian Jacobs:** President, Chief Executive Officer, Chief Financial Officer, Secretary, and Director since inception.
- **Mark Tompkins:** Director since inception.

**Funding and Resource Management:**
- Management has indicated an intent to finance operational costs through loans or investments from stockholders, management, or other investors. However, there are no formal written agreements ensuring this funding.

**Going Concern Warning:**
- The auditors have raised substantial doubt regarding the company's ability to continue as a going concern due to its lack of revenue and accumulated losses.

The company's strategy and actions up to this point indicate a focus on finding a suitable business to merge with or acquire, but without specific activities or revenues to report.

Lomond Therapeutics Holdings, Inc.

10-K / April 15, 2025

10-K / April 1, 2024

10-K / April 15, 2025

Company Summary

Overview

Business Activities

Intellectual Property

Market & Target Indications

Operational & Financial Status

Key Partnerships & Licensing

Summary of Operations