IRLAB Therapeutics - MSRD agreement early validation for IRL757
The McQuade Center for Strategic Research and Development (MSRD) has signed an exclusive R&D collaboration for IRLAB’s preclinical candidate IRL757, following recent clearance by Swedish authorities to start clinical trials. This positive development provides early validation of IRLAB’s preclinical pipeline, in our view, and potential upside to our valuation provided there is clinical progress. Under the collaboration, MSRD will fund IRL757’s clinical development to proof-of-concept (PoC) in addition to paying IRLAB US$3m in upfront payments and up to US$5.5m in development milestones. Note that the agreement excludes the upcoming Phase I study (patient enrollment to commence in Q224), which will be funded by the US$2m grant received from the Michael J. Fox Foundation (MJFF) in December 2023. IRL757 is being developed as a treatment for apathy, a common symptom in neurological conditions such as Parkinson’s and Alzheimer’s disease, with no available treatment options.IRLAB Therapeutics AB is a Sweden-based research and development company. It focuses on illnesses in the central nervous system and primarily on development of drugs to assist patients with Parkinson's disease. The Company possesses a research platform Integrative Screening Process (ISP), which aims to discover and develop drug candidates for the treatment of brain diseases. The Company operates projects on both clinical phase and preclinical phases. The primary projects are IRL790 and IRL752, both on clinical phase. The IRL790 project is a psychomotor stabilizer for the treatment of levodopa (L-dopa) amino acid that dyskinesia induces in Parkinson's Disease (PD-LIDs) and Parkinson Disease psychosis (PD-Psychosis). The IRL752 project aims at cortical enhancement for the treatment of Parkinson Disease Dementia (PD-D) and Behavioral and Psychological Symptoms of Dementia (BPSD).
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