IRLAB Therapeutics has announced a collaboration agreement with the McQuade Center for Strategic Research and Development (MSRD), a member of the global Otsuka family of pharmaceutical companies.
IRLAB and MSRD will exclusively collaborate in the development of IRLAB’s novel drug candidate IRL757 for the potential treatment of apathy in Parkinson’s and other neurological conditions through clinical proof-of-concept. MSRD, which identifies and supports early-stage opportunities that can change the landscape of treatments for mental illness and renal disorders, will collaborate with IRLAB in the exclusive development of IRL757 through completion of certain clinical studies. The collaboration may include studies designed to enable the execution of a safety and efficacy signal finding study in Parkinson’s disease and in Alzheimer’s disease. IRLAB is currently initiating the first-in-man Phase I program with IRL757, funded by The Michael J. Fox Foundation, with anticipated recruitment starting in Q2, 2024.
“We are excited about the collaboration with MSRD and Otsuka, who will bring their extensive experience and competence into the development of this innovative treatment of apathy in people living with neurological diseases. We are looking forward to continuing the development of IRL757 together with MSRD and Otsuka through clinical proof of concept,” says Gunnar Olsson, CEO, IRLAB.
Under the current collaboration, IRLAB is eligible to receive USD 3 million in up-front payment and up to an additional USD 5.5 million following the achievement of certain development milestones.
Under the current collaboration, IRLAB is eligible to receive USD 3 million in up-front payment and up to an additional USD 5.5 million following the achievement of certain development milestones. MSRD will also fund the drug development activities during the term of the agreement, with the exception of the Phase I program, funded by The Michael J. Fox Foundation.
Further, under the terms of the current collaboration agreement, MSRD has the opportunity to elect to expand the collaboration upon the occurrence of certain triggering events, subject to negotiations of a new agreement. MSRD might also, if the parties do not expand the collaboration, under certain circumstances receive low single-digit percentage royalty payments.
Photo of Gunnar Olsson: IRLAB
