Over the last couple of weeks I initiated a position in Ondine Biomedical(OBI). Ondine is a s a Canadian life sciences company focused on developing and commercializing light-based, non-antibiotic antimicrobial therapies to prevent and treat infections in hospitals and other settings. Its core platform, called photodisinfection, uses a photosensitive agent activated by light to rapidly destroy a broad range of bacteria, viruses, and fungi without driving antimicrobial resistance, targeting the growing global problem of multidrug-resistant infections. Ondine’s lead product, Steriwave, is a nasal photodisinfection treatment designed to eradicate pathogenic microbes in the nose that can cause healthcare-associated infections, and it has been adopted in Canadian hospitals with reported reductions in infection rates. While it has been the effectiveness of the product has been proven in practice(as it has been used for many years), they are only now going through the official clinical trials due to costs. The US trial(5000 patients with HCA hospital which is also a strategic investor/partner) is due to be released in the coming weeks, so I suspect the stock will rally strongly on the confirmatory results. It is obviously still loss making, but this results will open the US market for them. In addition, they recently(earlier in the year), did a capital raise, so they should have sufficient capital for the next couple of years while the adoption grows.