Confidential · The Plan
Everyone in this category rents the same three things: someone else's molecule, someone else's prescriber, someone else's warehouse. They compete on ad spend and they get one margin. We own the molecule, the verification, the prescriber, the warehouse, the registry and the audience. Nine divisions, one supply chain, and the only real-world outcome dataset in peptides sitting underneath all of it. That is a category position, not a company.
Section 01
Every division earns in one of three ways. Understanding which is which is how you decide where the next dollar goes.
Make it for $11.76 blended all-in. Sell it for $75 wholesale. That is 84% gross margin, already proven across a 1,221-vial retatrutide run. OTC lands near $4/unit.
Divisions: Peptide Pure · LYPHWAVES · Peptide Buzz · OTC & Brands
Subscription and per-encounter revenue that compounds without new acquisition. Telemed visits, refill programs, clinic SaaS at $500/clinic/month at 90% margin.
Divisions: National Telemed · Data Capture & Platforms
The one nobody else can offer. We sell the machine, not just the product: contract lyophilization, third-party COA testing, white-label fulfillment, prescriber access.
Our competitors become our customers.
Divisions: Fulfillment & 3PL · Analytical Lab · LYPHWAVES contract capacity
The strategic read: the billion-dollar telehealth companies being written about this year are Type 1 brands renting Type 3 infrastructure from someone else. The value accrues to whoever owns the rails. We are building to be the rails and run our own brand on top of them, capturing both margins.
Section 02
Two assets sit outside the commercial structure. Neither one shows up on a P&L. Together they are the entire reason this is defensible.
IRB PPRN-001-2025 · IRCM-2025-467. A prospective multi-site observational study of peptide-supported metabolic, regenerative and performance protocols, approved by the Institute of Regenerative and Cellular Medicine IRB.
Principal Investigator: Dr. Mortensen, PA-C. Co-Investigator: Dr. Sunil Kurup. Study Coordinator: Dr. Elaine Marquez Mortensen, ND.
What it actually buys us: every clinician who buys from us can enroll as a credentialed co-investigator instead of a customer. Every vial carries a batch number, a COA and an unbroken chain of custody. Every outcome is consented, captured and citable.
A competitor can copy a formula in a week. They cannot copy four years of consented longitudinal outcomes. The nonprofit holds the protocol and the data governance and sells nothing — that separation is exactly what makes the dataset worth anything.
The best peptide attorney in the country, and he is not learning this category on our clock. He defends AlphaBioMedLabs, Paramount Peptides and Trevor Kruder's organization daily — the largest operators in the space.
That matters more than it sounds. He has already seen the enforcement letters, the payment-processor terminations and the state board actions that are coming for everyone else. We are not writing our compliance posture from a blog post. We are writing it from the guy who handles the actual files.
Currently on: the operating agreement and GM equity benchmarks · the parent holdco formation · PMA and 503 structuring · the data-licensing entity question · the patent estate.
Mort quarterbacks. Josh runs the offense. Kaveh runs the defense. In a gray-market category, the defense is what determines whether you get to keep the points.
Section 03
We have been carrying the heaviest lane's burden across all four. Sorting the catalog is the single fastest unlock available to us — two of these lanes can turn on in weeks.
| Lane | What's in it | What it needs | Time to revenue |
|---|---|---|---|
| 1 · True OTC | Pouches, sleep & energy strips, topicals, beverage | No prescriber. No pharmacy. No 503. Supplement/cosmetic rules and clean claims. | NOW |
| 2 · Commercial generic Rx | Tadalafil, sildenafil | FDA-approved molecules. No compounding at all. Prescriber plus an ordinary mail-order pharmacy. | WEEKS |
| 3 · Compounded non-sterile Rx | PT-141/tadalafil strips, combination capsules | 503A, patient-specific prescription, USP 795. A sanitized room, not a cleanroom. | 1 QUARTER |
| 4 · Compounded sterile Rx | Every injectable peptide | USP 797, sterility, endotoxin, full quality system. Runs under the IRB today. | RUNNING |
Section 04
Year-one model targets by division. Where a number is proven on receipts it is marked. Everything else is a model output, not a promise.
| # | Division | How it earns | Y1 target | Margin | Status |
|---|---|---|---|---|---|
| 01 | Peptide Pure Clinician channel | Wholesale to clinics under IRB | $7.26M | 84%+ | Revenue today |
| 02 | LYPHWAVES Manufacturing + analytics | Own-plant margin, then contract capacity | $280M capacity at full rate | Cost center → profit | Equipment en route |
| 03 | National Telemed Prescriber layer | Per-encounter + refill subscription | Unlocks all Rx | Recurring | Standing up |
| 04 | Peptide Buzz Premiere OTC brand | DTC and bulk to clinicians — the only brand doing both | $1.8M | 62% | Storefront live |
| 05 | OTC & Brands KULT · DRYP · LIIT · stripped | PMA membership, restricted-category DTC, retail tins | Portfolio | ~$4/unit cost | Selling |
| 06 | Data Capture The flywheel | Clinic SaaS $500/mo, then data licensing | $189K | 90% | Tool shipped |
| 07 | Killer Health Studios Demand engine | Owned audience feeding every brand | $396K | 90% | In production |
| 08 | Fulfillment & 3PL Scale & margin | White label + fulfillment as a service | $168K proven | Per-unit | KYVO shipped |
| 09 | CLASSIFIED The moonshot | Patent pending · FDA drug development | Asymmetric | — | Validation to FDA |
The compounding effect nobody models: the analytical lab alone runs roughly $1.2M/year per instrument at 85%+ margin on a floor we already lease, using a machine we already need. Two instruments is a $2.4M business hiding inside a cost center. That pattern repeats across every Type 3 division.
Section 05
Four phases. Each one is funded by the phase before it. The only phase that requires outside capital is the second, and it is the one that changes the shape of the company.
Section 06
The plan above is the upside. This is the list that decides whether we get there. Every item has an owner.
Three to six months solo. It gates paid acquisition and payment stability across every Rx lane. If it is not filed in week one, Phase 2 slips a quarter.
The billion-dollar comparables in this space depend on one infrastructure vendor. Two of everything — pharmacy, 3PL, lyo, testing — from day one.
One disease claim turns a supplement into an unapproved drug. The compliance review ships before the first paid ad, not after.
Commercial data licensing cannot sit inside the 501(c)(3). Needs a for-profit registry entity with a license to de-identified data. Kaveh.
LYPHWAVES, 3PL and the data-collections owner. A division without a GM is a division that does not compound. Step up, or find yourself with a boss.
Compounded GLP-1 and gray-market peptides can change status. Our hedge is the same thing as our moat: the IRB, real COAs, and counsel who defends the biggest players in the category.
The one-line version
Then we take the proof to the agencies and move the rules the whole category operates under. That is the billion-dollar arm. The nine divisions are how we fund the walk there — profitably, from month one, on margins nobody renting their supply chain can match.
Confidential · h2bab HQ · not for distribution
Revenue figures marked "proven" are on receipts. All forward numbers are model outputs, not guarantees.
Numbers refresh every Monday from the books.