IRLAB Therapeutics AB (STO:IRLAB A), a Swedish company developing novel treatments for Parkinson's disease, announced on Tuesday the start of a Phase I clinical study of its drug candidate IRL757 in healthy adults aged 65 and older.

Evaluating the pharmacokinetics, safety and tolerability of IRL757, the study is expected to be completed at the end of Q4 2024.

IRLAB has received a milestone payment of USD2.5m in conjunction with the first dosing in this study. The study is being conducted under a collaboration framework with the McQuade Center (MSRD), a member of the global Otsuka family of pharmaceutical companies.

IRL757 is a potential treatment for apathy, a condition characterised by patients' indifference and a lack of response to the world around them. This condition affects a large proportion of people living with Parkinson's disease, Alzheimer's disease and other neurological conditions. IRLAB's drug candidate has shown positive effects in preclinical models of cognitive function, including improved motivation.

In addition to the study in healthy adults aged 65 and older, IRLAB is also conducting a Phase I study in healthy younger subjects. This study is expected to be fully completed in 2024 and is funded by The Michael J. Fox Foundation for Parkinson's Research (MJFF).

Under the current collaboration with MSRD, IRLAB has received USD3m in up-front payment and can receive an additional USD5.5m 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 currently ongoing Phase I programme in healthy younger subjects, funded by The Michael J. Fox Foundation.