Business: Polydex Pharmaceuticals Limited, with its subsidiaries based in Toronto, Ontario, and Lenexa, Kansas, is engaged in the research, manufacturing and marketing of biotechnology-based products for veterinary and human pharmaceutical industries worldwide. It is Polydex's mandate to research, develop and market veterinary pharmaceutical products in a hands-on (concept to consumer) fashion. However, the business approach differs with development of its human pharmaceutical pipeline. Here, the mandate is to research and license out potential products to valued partners for development, thereby minimizing R&D expenditures while retaining a royalty revenue stream from successful products.