Victory Square Announces U.S. Patent Allowance for Insu Therapeutics' Needle-Free Insulin and GLP-1 Delivery Platform

Patent milestone advances Insu's platform, but commercialisation remains distant and unproven.

What the company is saying

Victory Square Technologies (CSE:VST, OTCQX:VSQTF) is highlighting a Notice of Allowance from the USPTO for Insu Therapeutics’ buccal peptide-delivery patent, framing this as a foundational step for its InsuTab (insulin) and BuccaGLP (semaglutide) programs. The company emphasises its exclusive, worldwide licence from UBC, and the strategic relationship with Hydreight, which invested C$300,000 and holds exclusive U.S. distribution rights for Insu’s technology, contingent on future approvals. Management, including CEO Shafin Diamond Tejani and Insu Board chair Dr. Anubhav Pratap-Singh, present the development as progress toward needle-free peptide medicines and future partnerships. The release repeatedly references the scale of the GLP-1 market (US$79 billion in 2025, US$190 billion by 2035 per Morgan Stanley) to frame the opportunity, while acknowledging that InsuTab and BuccaGLP remain investigational and unapproved. The tone is optimistic but caveated, with explicit statements that patent allowance does not equate to clinical efficacy, regulatory approval, or commercial readiness.

What the data suggests

The only realised milestones are the USPTO Notice of Allowance for U.S. Patent Application No. 18/513,373, Hydreight’s C$300,000 investment in Insu, and completion of preclinical proof-of-concept studies (lab, cell-culture, rat) at UBC. Insu holds an exclusive, worldwide licence from UBC, but no clinical trial data, regulatory submissions, or commercial agreements are disclosed. The referenced market sizes (US$79 billion in 2025, US$190 billion in 2035) are for the global GLP-1 category, not Insu’s addressable market or projected revenue. Hydreight’s exclusive U.S. distribution rights are contingent on successful development and regulatory approvals, with no timeline or binding commercial terms disclosed. Both InsuTab and BuccaGLP remain investigational, with further studies required to establish safety, efficacy, and commercial viability. The patent has cleared substantive examination but is not yet formally issued, pending fee payment and formalities. Overall, the data supports a narrative of early-stage progress but does not demonstrate clinical, regulatory, or commercial traction.

Analysis

The announcement is upbeat, highlighting a Notice of Allowance for a U.S. patent application and referencing large potential market sizes for GLP-1 therapeutics. However, the majority of key claims are forward-looking, including references to potential product benefits, future regulatory approvals, and commercial opportunities. The only realised milestones are the patent allowance (not yet issued), completion of preclinical studies, and a C$300,000 investment. No clinical data, regulatory submissions, or commercial agreements are disclosed, and both InsuTab and BuccaGLP remain investigational with no approval or sales. The timeline for any commercial or financial benefit is long-term, as further studies and regulatory engagement are required. The use of large market size figures and language about global rights and distribution inflates the perceived opportunity relative to the current stage of progress.

Risk flags

• ●Execution risk is high: InsuTab and BuccaGLP are both in preclinical stages, with no human data or regulatory submissions, making the path to approval and commercialisation lengthy and uncertain.
• ●Market opportunity is referenced using large global GLP-1 sales figures (US$79 billion in 2025, US$190 billion in 2035), but Insu’s actual addressable market and potential share are undefined and likely to be much smaller, introducing risk of overestimated upside.
• ●Hydreight’s exclusive U.S. distribution rights and C$300,000 investment are contingent on successful development and regulatory approval, so there is no guaranteed commercial pathway or revenue stream.
• ●Patent issuance is not final: the allowance is subject to payment of the issue fee and completion of formalities, and the ultimate scope of protection will depend on the final issued claims, which may be narrower than anticipated.
• ●No clinical, regulatory, or commercial milestones have been achieved, and the company’s ability to secure funding, partnerships, and manufacturing readiness remains unproven at this stage.

Bottom line

This announcement marks an early but necessary patent milestone for Insu Therapeutics’ buccal peptide-delivery platform, supported by a C$300,000 investment from Hydreight and an exclusive global licence from UBC. The company is still at the preclinical stage, with no human data, regulatory filings, or commercial agreements in place, and both InsuTab and BuccaGLP remain investigational. The cited GLP-1 market size (US$79 billion in 2025, US$190 billion in 2035) highlights sector potential but does not translate into near-term revenue or market share for Insu. Hydreight’s distribution rights are conditional and do not guarantee future sales. Investors should recognise that while the patent allowance is a positive step, the timeline to value realisation is long and fraught with execution, regulatory, and commercial risks. The most important takeaway is that Insu’s platform remains unproven in the clinic and market, and tangible progress will require successful clinical trials, regulatory approvals, and binding commercial deals.

Announcement summary

(CSE:VST) (OTCQX:VSQTF) Victory Square Technologies Inc. announced that its portfolio company, Insu Therapeutics Inc., has received a Notice of Allowance from the United States Patent and Trademark Office for a patent application covering its buccal peptide-delivery technology. The patent application, U.S. Patent Application No. 18/513,373, is titled 'Mucoadhesive Pharmaceutical Dosage Form for Unidirectional Release of Peptide Therapeutic Particles' and concerns a layered dosage form designed to adhere to the inner cheek and direct the release of a peptide medicine toward the underlying tissue. This allowance advances the intellectual-property foundation for InsuTab™, an investigational buccal insulin formulation, and BuccaGLP™, an investigational buccal semaglutide formulation. Insu holds an exclusive, worldwide licence from the University of British Columbia, granting it rights to develop, market, commercialize, and sublicense the licensed technology globally. Hydreight Technologies Inc., another Victory Square portfolio company, has invested in Insu and previously disclosed exclusive U.S. distribution rights for peptide therapeutics utilizing Insu's buccal technology, subject to successful development and regulatory approvals. Hydreight completed a C$300,000 strategic investment in Insu and operates healthcare infrastructure connecting physicians, pharmacies, and patients across all 50 U.S. states. The patent application has cleared substantive examination, with formal issuance subject to payment of the required issue fee and completion of remaining formalities. Insu has completed laboratory, cell-culture, and rat studies at UBC as proof-of-concept work for its buccal insulin program, and its buccal semaglutide program applies the same delivery architecture to a GLP-1 medicine. Research by Insu's scientific team was published in Pharmaceutics in September 2023 under the title 'Concept for a Unidirectional Release Mucoadhesive Buccal Tablet for Oral Delivery of Antidiabetic Peptide Drugs Such as Insulin, Glucagon-like Peptide 1 (GLP-1), and their Analogs.' Morgan Stanley Research reports approximately US$79 billion in global GLP-1 sales in 2025 and forecasts that the category could reach US$190 billion by 2035. InsuTab and BuccaGLP remain investigational and are not approved for commercial sale. Patent allowance does not establish clinical safety or efficacy or constitute regulatory approval. Victory Square continues to support Insu as it advances its development programs and prepares for regulatory engagement.

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