Business: North Carolina-based Pilot Therapeutics is a development stage specialty pharmaceutical company that has developed a robust pipeline of pharmaceutical product candidates and clinically validated over-the-counter (OTC) medical food products. A world leader in fatty acid metabolism, Pilot has pioneered Functional Liponomics(TM), a proprietary, state-of-the-art research platform combining lipid and genomic profiling, and has used this research to develop or acquire product candidates for asthma, coronary heart disease, cystic acne and cancer. Pilot is in the process of filing Investigational Drug Applications (INDs) for its lead pharmaceutical product candidates, PLT 1731 to treat asthma, and PLT 732 to treat triglyceride elevations associated with heart disease and stroke. Its lead OTC medical food product, AIROZIN(TM), is the first clinically proven OTC maintenance therapy for the dietary management of asthma, a disease that afflicts approximately 17 million Americans; AIROZIN(TM) is expected to be launched during the second half of 2002.