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

May 16, 2023

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.

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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.”

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