cardiol therapeutics is a nanotherapeutics company focused on the research and commercial development of proprietary drug formulations for the treatment of heart failure. heart failure is a chronic condition that affects more than 26 million people globally. over five million adults in the u.s. suffer from heart failure, and it remains a leading cause of death and hospitalization with associated healthcare costs exceeding $30 billion annually. people with heart failure experience shortness of breath, fatigue, rapid heart rate, edema, reduced exercise capacity and a marked reduction in quality of life. approximately half of all heart failure patients have heart failure with preserved ejection fraction (hfpef), which is often associated with diabetes, obesity and high blood pressure and for which there have been no new therapies developed in over 20 years. cardiol is developing ctx01, a proprietary nanoformulation of pharmaceutical cannabidiol for the treatment of hfpef. cannabidiol has