TLC announced the receipt of ethical and scientific approval from the Bellberry Human Research Ethics Committee (HREC) in Australia for the Company’s Phase I clinical trial of TLC19 Hydroxychloroquine Liposome Inhalation Suspension for Coronavirus disease 2019 (COVID-19). The HREC is constituted in accordance with the requirements of the National Health & Medical Research Council (NHMRC), and reviews clinical trial proposals to ensure that they are ethically and scientifically acceptable and have been developed in accordance with relevant standards and guidelines. The approval comes following the acceptance of TLC’s investigational new drug (IND) application with the Taiwan Food and Drug Administration (TFDA) on October 6, 2020. The Phase I randomized, vehicle-controlled, blinded study will evaluate the safety, tolerability, and pharmacokinetics of single ascending doses of inhaled TLC19 in 30 healthy volunteers. Data from this trial will serve as a basis for subsequent clinical trials in patients with COVID-19.