CDT Equity (formerly Conduit Pharmaceuticals) is a pre-revenue, clinical-stage drug repositioning company. CDT licenses deprioritized drug compounds from large pharma companies, conducts pre-clinical work to expand or establish new therapeutic indications, and then out-licenses the assets to larger biotech or pharma partners in exchange for upfront payments, milestones, and royalties. CDT does not intend to take any drug through FDA approval itself. Its primary asset is a license from AstraZeneca for three compounds — AZD1656 and AZD5658 (glucokinase activators) and AZD5904 (a myeloperoxidase inhibitor for idiopathic male infertility) — all of which already have Phase I or Phase II safety data, reducing CDT's early-stage trial risk. Target indications include autoimmune disorders, idiopathic male infertility, dermatology, oncology, rare disease, and animal health. CDT adds value to its licensed compounds through two approaches: solid-form chemistry (co-crystallization techniques developed at its Cambridge lab that can extend patent life by up to 20 years) and AI-assisted disease mapping via an agreement with Sarborg, a related party, to identify new indications and drug combinations. CDT operates with four full-time employees, relying on CROs and consultants for most activities. CEO Andrew Regan controls Manoira, which funds and runs veterinary studies on CDT's compounds, and sits on the board of Sarborg — making both key service providers related parties, which is a notable feature of CDT's governance and cost structure.