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IRLAB Therapeutics and the McQuade Center for Strategic Research and Development Enter into Agreement to Evaluate IRLAB’s Neuropsychiatric Programs IRL757 and IRL942

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ANNOUNCEMENT FOR EUROPEAN MEDICAL & PHARMACEUTICAL TRADE MEDIA AND EUROPEAN FINANCIAL MEDIA ONLY

Gothenburg, Sweden, May 16, 2023 – IRLAB Therapeutics AB (Nasdaq Stockholm: IRLAB A), a company discovering and developing novel treatments for Parkinson’s disease, today announced the signing of an agreement, with the McQuade Center for Strategic Research and Development, LLC (MSRD) (a member of the global Otsuka family of pharmaceutical companies), for MSRD to evaluate the neuropsychiatric compounds IRL757 and IRL942 under exclusivity.

MSRD, which identifies and supports early-stage opportunities that can change the landscape of treatments for mental illness and renal disorders, will exclusively evaluate and scientifically review the compounds, in exchange for providing IRLAB with an upfront payment. MSRD and IRLAB may, after the evaluation, agree to expand activities into a collaboration to continue to develop the compounds as pharmaceutical products.
 
Gunnar Olsson, Chief Executive Officer of IRLAB, said, “There is an increasing interest from the pharma industry in our development programs. This is highly encouraging since it is an external validation of our ability to develop competitive programs with attractive market potential. MSRD, an Otsuka company, has followed us and the preclinical candidates for a while now, and we have been impressed by their commitment to developing novel treatments for neurological disorders to improve patient outcomes. We are looking forward to the coming months of further discussions with MSRD regarding a potential R&D collaboration for our neuropsychiatric programs.”

For more information

Gunnar Olsson, CEO
Phone: +46 70 576 14 02
E-mail: gunnar.olsson@irlab.se
 
Nicholas Waters, EVP and Head of R&D
Phone: +46 730 75 77 01
E-mail: nicholas.waters@irlab.se

This information is information that IRLAB Therapeutics is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-05-16 13:10 CEST.

About MSRD

The McQuade Center for Strategic Research and Development, LLC (MSRD) was established in 2019 by the Otsuka US Pharmaceutical Business. The purpose of MSRD is to search for, identify and fund innovative early-stage research/development programs that have the potential to build the future portfolio of Otsuka products. MSRD builds on Otsuka’s innovative approach by investing in treatment options that may offer better health outcomes for those living with mental illness and renal disorders. For more information, please visit https://msrd-us.com/.

About IRL757

Drug candidate IRL757 is being developed as a treatment for apathy in Parkinson’s and other neurological disorders with a once-daily oral administration. Apathy is a debilitating condition affecting over 10 million people in the US and equally many in Europe. The prevalence is high, occurring in 20–70 percent of people with Parkinson’s and in 20–90 percent of people with disorders such as Alzheimer’s disease and other disorders related to CNS. Preclinical efficacy by IRL757 has been obtained in several preclinical models representing various aspects of cognitive function including potential signals of improved motivation. IRL757 has been studied in several preclinical models representing various aspects of cognitive function including potential signals of improved motivation. The observed efficacy is hypothesized to be associated with IRL757’s unique pharmacology to reverse disruption in cortical to sub-cortical nerve signaling, a proposed mechanism underlying apathy in neurological disorders. IRL757 is expected to be Phase I ready by the year-end 2023.

About IRL942

Drug candidate IRL942 is being developed as a treatment to improve cognitive function in people with Parkinson’s and other neurological disorders. The future medicine is intended to be administered orally once daily. There are about 12 percent of adults aged 65 years or more experiencing cognitive impairment, which greatly affects quality of life. Cognitive decline is more common in people living with neurological disorders. Disruption of frontal cortical neurotransmission is implicated in the pathogenesis of cognitive decline and neuropsychiatric symptoms in Parkinson’s and other neurological disorders. IRL942 displays a unique ability to activate frontal cortical neurotransmission, synaptic gene expression, and associated circuits, resulting in improvements in cognitive function. IRL942 is expected to be Phase I ready during H1 2024.

About IRLAB

IRLAB is discovering and developing a portfolio of transformative therapies targeting all stages of Parkinson’s disease. The company has its origin in Nobel Laureate Prof. Arvid Carlsson’s research group and the discovery of a connection between the brain’s neurotransmitters and CNS disorders. Mesdopetam (IRL790), in development for the treatment of levodopa-induced dyskinesias, is the company’s most advanced program and was licensed to Ipsen in 2021. A second candidate, pirepemat (IRL752), is currently in Phase IIb, being evaluated for its effect on balance and fall frequency in Parkinson’s disease. In addition, the company is also progressing the three preclinical programs IRL942, IRL757, and IRL1117 towards Phase I studies. The pipeline is driven by IRLAB’s proprietary systems biology-based Integrative Screening Process (ISP) research platform. Headquartered in Sweden, IRLAB is listed on Nasdaq Stockholm (IRLAB A). For more information, please visit www.irlab.se.

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IRLAB Therapeutics and the McQuade Center for Strategic Research and Development Enter into Agreement to Evaluate IRLAB’s Neuropsychiatric Programs IRL757 and IRL942

Datum 2023-05-16, kl 13:10
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IRLAB Therapeutics and the McQuade Center for Strategic Research and Development Enter into Agreement to Evaluate IRLAB’s Neuropsychiatric Programs IRL757 and IRL942
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