Chrysalis proposes to repurpose their regenerative drug, TP508, to treat COVID-19, due to its ability to reduce effects of acute lung injury, prevent normal tissue damage and reduce inflammation. TP508 has an existing efficacy profile in tissue regeneration clinical trials, an extensive safety profile (600 human subjects with no adverse effects), and is GMP manufactured with sufficient inventory to enter COVID-19 clinical trials. The drug addresses underlying causes of ARDS, including loss of endothelial function.