IRL secures additional financing

October 21, 2014

IRL has now successfully secured an additional 25 mSEK (2.7 mEUR), that will be used for continued discovery efforts, pipeline development and partnering. Together with previous financing, this means that the company, since inception, has raised in excess of 50 mSEK (5.5 mEUR).

The current shareholders and new investors have joined forces to support the company in the final stages of pre-clinical, IND enabling, studies for the IRL programs in Parkinson’s disease (IRL790) and in dementias and attention disorders (IRL752).

The new financing, together with the recent grant from Vinnova (3.8 mSEK, 0.4 mEUR), allows the company to accelerate and focus on the preclinical data packages and prepare both of our development compounds for Phase I studies. The work is managed from IRL in a network of professional service providers. IRL has been fortunate in finding highly committed experts and laboratories sharing our mission to develop truly novel treatment strategies to fight neurodegenrative disorders” said Nicholas Waters, CEO.”

The chairman of the board, Professor Anders Vedin commented: “It is gratifying and very encouraging to note that the founders, initial shareholders in collaboration with new shareholders continue to support the company.”