Strategic Asset Leasing Inc (fka LEAS)

[TIMGZ]

Strategic Asset Leasing, Inc.

INFORMATION REQUIRED IN REGISTRATION STATEMENT



Item 1. Business.



Organizational History.



The company was originally organized in Nevada on August 2, 2004 and re-domiciled in Wyoming on March 5, 2013.



On November 1, 2021, the Company executed an Agreement and Plan of Merger with Anew Acquisition Corp (“ANEW”), including the wholly own subsidiaries ANEW Oncology, Inc. and Anew Gene Therapy Inc., whereby each issued and outstanding share of ANEW common stock was converted into the right to receive one-one hundredth (1/100) of a share of the Company’s Series B preferred stock, par value $.001 per share. On November 1, 2021, the total ANEW stock issued and outstanding was aggregate of 40,525,000 shares which was converted into an aggregate of 405,250 shares of the Company’s Series B preferred stock.



The Agreement and Plan of Merger between the Company and ANEW was treated as a reverse acquisition for financial statement reporting purposes. Accordingly, the ANEW’s assets, liabilities and results of operations became the historical financial statements of the Company. The Company’s name will be changed to ANEW Medical, Inc. The 1,044,861,360 outstanding shares of Company’s common stock prior to the Agreement and Plan of Merger agreement, were considered to be shares issued upon the reverse acquisition.



On November 1, 2021, the shareholders of Strategic Asset Leasing, Inc., approved a name change and approved a 1-for-2500 reverse split. On April 19, 2022, the Company filed an Articles of Amendment with the State of Wyoming, changing its name to “ANEW Medical, Inc.” and the contemplated 1-for-2,500 reverse split. During January 2022 and in accordance with SEC Rule 10b-17 and FINRA Rule 6490, the Company submitted documents and other information to FINRA in furtherance of pursuing and obtaining approval of the subject reverse stock split and name change. The Company must submit additional documents requested by, and necessary to obtain approval of, FINRA in connection with the subject reverse stock split and name change. As of May 10, 2022, the reverse split and name change have not been declared effective.



Our Business



Anew Medical, Inc. (“Anew Medical” or the “Company”) was formed to develop cutting-edge biologic medicines for the treatment of chronic diseases – cancer, cardiovascular, and neurodegenerative disorders. As we age and get older, these diseases become the major cause of death or disablement. There are two subsidiaries managed by the Anew Medical team - Anew Biologics, Inc. uses state-of-the-art biologic therapies to treat cancer – recombinant proteins made outside the body, and Anew Gene Therapies, Inc. uses a gene therapy approach to introduce therapeutic proteins inside the body – to either block factors causing disease or to replace human genes that have either shut down native protein production or have mutated to produce aberrant proteins that do not function at all.



The Company has a two-pronged business strategy, “multiple shots-at-the –goal”, that we consider to be a “low risk/high risk” opportunity to investors. Anew Medical has licensed recombinant antibodies with known therapeutic activity and a known market (“low risk”) in treating cancer, autoimmune diseases, and vascular (eye) diseases, and these product candidates require a Phase 3 study and can be approved for marketing in the US and Europe (the major pharmaceutical markets) in three years. The antibodies are already approved in several countries outside of the US and EU markets.



The Company has recently licensed gene therapy intellectual property from a renowned research institution in Barcelona, Spain that has shown the potential to halt or eliminate or stop the progression of Alzheimer’s Disease and other memory/cognitive disorders of the brain. These “early stage” product candidates are not approved in any market, so the Company and its subsidiary will have the next 4-5 years to produce lead candidates, do clinical Phase 2 and Phase 3 testing of the candidates, validate its use in cognition/memory, and obtain regulatory approval in the major markets around the world. Thus, the cell and gene therapy approach at treating age-related diseases (brain cognition, cardiovascular disease, chronic kidney disease, osteoporosis, etc.) is a “high risk” program, but the products will have a tremendous human impact and a tremendous market potential worldwide.



We are focused on commercializing several blockbuster biologic drugs whose patents have expired and have been proven by our corporate partner to be highly similar to the Genentech/Roche reference antibodies already on the market. These antibody products are referred to as “biosimilars” or “biogenerics”. Our exclusively licensed portfolio consists of Roche/Genentech’s bevacizumab (anti-VEGF, Avastin®) and rituximab (anti-CD20, Mabthera® and Rituxan®).