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.
08 May 2024
IRLAB Therapeutics - MSRD agreement early validation for IRL757
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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.