Welcome to this live Q2 presentation by research company, EirLab, addressing Parkinson and other CNS diseases. Presenting today is CEO, Kristina Torfgaard Vice President, Research and Development, Niklas Waters and CFO, Viktor Sievers. After the presentation, there will be a Q and A with equity analysts and viewers can ask their questions in the live chat. I hereby welcome CEO, Kristina Torfgaard. Please go ahead with your presentation.
Thank you very much, Matthias. So this is our disclaimer, and we are listed on Nasdaq Stockholm main market to remind about that. Very pleased to have you all listening in today. Can I have the first slide there? Thank you.
Which is the agenda for today. So I will start with some news during the period, hand over to Nicolas, EVP, Head of R and D, to take you through the R and D update. And after that, we will hear Victor Sivers, our CFO, to take you through the financials. And then I will come back in the end there and talk and make some concluding words. And this will be then followed by a Q and A session, as you already heard.
So we have had a very good period also this time. We are very excited about, the progress we are doing with the projects. First, here I have summarized a couple of the key highlights that we think are very important for the company during the period and after. We have a new patent granted for Mestopetam, which is the salt patent, which is used for, the drug product for the the the the the candidates that we are developing, and using in the studies. This patent will be extended until and through mid-2040s, and this is specifically in The US, which makes that we have a really good impact in a huge market.
And this is already granted in many of the other countries all over the world. So this will also strengthen our value position for the candidate. And we believe that this is also very important to bring in the ongoing discussions that we have regarding, a partnership regarding Mesopotam. For seven fifty seven that we are developing together with MS Eliotzuka, we were very pleased to see the data that we received from the repeated dose study that we did in healthy volunteers. And we have already made the decision to continue into a study with individuals with Parkinson's and apathy, and we strengthened this.
So we are progressed according to according to the plan. And we have to to remind you that the program is fully financed by MSNRD and Otsuka through the proof of concept. Earlier this year, we presented, data from our cortical enhancers, which is Peripramat seven fifty seven and nine forty two, at an international conference, which is called Alzheimer's Disease and Parkinson's Disease. And there were huge interest about our cortical enhancers. And we really believe that we have groundbreaking data here for the candidates.
And we will talk more about specifically piripema there. And there we have the potential also for a new class of CNS drugs coming up. And then finally, during summer, we performed the right issue, which we were very pleased with the outcome from that. So in total, 150,500,000.0 we received before issue cost and the set of loans. And in total, we received around SEK 60,000,000 in the company.
This definitely strengthened our financial situation. And also, this is important in our ongoing discussions with potential partners to show that we have financing through, I would say, second half until the 2026. But also, we secured money for financing also to our key projects, which is for Peripramat to move forward with a couple of activities there, which we'll talk more about, and also for elevenseventeen that we are performing additional activities in manufacturing, I would say, for coming studies. So by that, I think it's time to hand over to Nicolas to take you through the R and D session.
Thank you, Kristina, and thank you all for listening today. Can I have the next slide, please? We'll start with a few words around mastopatam and some very important progress in that program. Next, please. As you all remember, Mesto Putam is our most advanced project right now, and we have been working quite hard during the first half of this year in kind of a boring aspect of it.
It's derisking the program. It sounds boring, but it means that we have ticked off a number of very important aspects for bringing this into, the next step. Mestoputam, as we have talked about before, is a drug that has the potential to, be an add on on levodopa and to treat dyskinesia in Parkinson's disease. This is a problem for about thirty percent of all patients across the globe. It acts through inhibition of dopamine D3 receptors.
Today a recognized mechanism for treating dyskinesia. And we as Kristina alluded to, we have developed the patent portfolio around the compound, and now we see that we could probably expect composition of matter based exclusivity for the product in all the major markets across the globe towards the mid-30s 40s. Next, please. At the Q1 presentation, we discussed the regulatory alignment that we have reached with the program, and this is, of course, one of the most important aspects of the program, and that is that the regulatory agencies, both in The U. S.
And in EU and across European local agencies, agree on the design of the program, the endpoint structure of the program, the additional studies that we should do in parallel with the Phase three efficacy trials. So that's a very important derisking aspect of the program. And then, there are a couple of other aspects of a program, which are necessary for the value proposition. And as the foundation for any project of this kind, the protection, the exclusivity based on patents is an important is perhaps the most important aspect. It defines the potential value of the program.
And we have been very, very successful in developing a patent portfolio around masturbiton. And the last pieces of this puzzle came in during Q2 this year with the granting of the salt patent for or actually a composition of matter patent for Maestro Betam. Its salt form, but also aspects of its production. The this patent has been granted in all major markets across the globe, including China, Europe, South American countries, U. S, Canada, etcetera.
And this means that we have exclusivity based on composition of matter, which is the strongest type of exclusivity and protection on the market. For this product and depending on how we decide to use the granted patent term extensions, PTEs, we can see exclusivity to 43, 44 roughly with the program. And this is an important aspect for the calculation of the, let's call it, net present value of the program. Next, please. The another aspect which we have spent a lot of effort exploring, and that is the payer research that we've done on the for the product, both in The U.
S. And in EU. And the this work has led to the conclusion that payers see, mastopatam as something that could be used in the phase between adjustments of levodopa dosing, which is the first thing you do when you see the occurrence of dyskinesia. You usually start lowering the doses of levodopa or dividing the doses into more fractions during the day to keep a steady plasma concentration of levodopa. That works to some extent for a while, but eventually, thirty percent, in some cases, or even forty percent of all patients actually get into dyskinesias, which uncontrollable.
And in those cases, you have to lower the dose of levodopa quite dramatically, which hampers the therapeutic effect. So what we see here is adding Mesdopotam will still allow for high doses or relatively high doses of, levodopa without the complications, without the dyskinesias. And the positioning will be after these manipulations with levodopa and before going into the more expensive, invasive treatments that are available for the late stage patients. And these, late stage treatments are quite expensive, which means that we could actually get a premium pricing for mastopotam, both in The U. S.
And Europe, according to the payer research we have done so far. And this is really interesting. And that also adds to the value proposition for the product. Next, please. Peefermatt, a very interesting story around this program.
We are the first company in the world, as far as we see can see, to actually address one of the biggest problems with seriously address one of the biggest problems in Parkinson, and that is the mid- to late stage occurrence of falling in these patients. So biripamat is intended to treat falls, reduce the risk of falling. And we have taken this program from preclinical discovery all the way through a Phase II program, including a Phase IIb study, which we published earlier this year. Next, please. This is a first in class compound, exactly like mastopatam, a first in class defining a new CNS class, acts through inhibition of alpha-two receptors and serotonin-seven receptors.
And also here, we have built a very strong patent portfolio with exclusivity reaching into the mid-2040s from where we stand today. Next, please. Falling is the as said, one of the biggest problems. There is no treatment for it. There's lots of patients, about forty five percent of all patients fall recurrently.
In the trials that we have conducted, if you go to the next slide, in the trials that we have explored, PIPMART, these are high fallers, patients that fall more than four two to four times a month, actually. The cost of falling is huge. In general, if one looks at the cost of falling, across the globe and with a focus on The U. S, for instance, they spend roughly $80,000,000,000 a year for treating fall injuries related to falls. So this is the biggest, problem also not only in Parkinson's, but in elderly in general.
What we saw in the Phase 2b study was, we've been through this before, we talked about it in the Q1 report. We see a clear efficacy, with the drug. We reduced the falls in these high fallers with around fifty percent, which is highly clinically meaningful and really, really an interesting therapeutic effect of the drug. What we noticed in the trial is that this occurs in a specific plasma concentration range, and that is what we are now looking forward to next, please the next step for this program is to build, build the development, strategy or development plan so that we can build in this this finding into the development plan. And I'll come back to that issue a little bit later.
So the plan is in place. We are now preparing for the decision, the internal decision to move forward to the next step. And what we need to do is to produce some more, of course, but also to set the scene for this specific a specific trial intending to prove the the finding we got in the exploratory Phase II, studies. And that is to titrate patients into this perfect plasma concentration range and see the effect there. And that will be used then for the strategy for the dosing strategy in the Phase III program.
The results that were generated in the Phase II studies, phase 2a, phase 2b studies, has been extremely informative in terms of how we want to move forward. And that's the key with phase two studies. Another aspect of the program, just as for mastopotam, we, of course, were working hard with the patent and patents and exclusivity for the program. And, the last puzzle basically in this game came in during the period. We have been, we have received a notice of allowance, which in principle means a 100%, likelihood of getting a granted patent also in Canada, which means that we now have, now have exclusivity into the mid forties for Perfmart as well.
So that's twenty years from now. And this, of course, creates a huge value for the program. Another aspect of the program is that during discussions with the physicians that participated in the trial after the trial, there has been a huge interest in being part of the writing committee for the publication. So we have now put together a pan European expert group of Parkinson physicians, Parkinson doctors, to prepare the publication based on the Phase 2b study. And this is also an important puzzle in the business development activities that we are initiating now with this program.
Next, please. July, our successful Phase I program that has now we have now decided to move this into patient studies, but we'll come back to that. Next, please. Next slide. So this is also a novel first in class compound.
We are focusing this towards neuropsychiatric aspects of Parkinson's disease, and we are looking initially at apathy. And we have designed a large study, which will address that problem. This is an issue which is current in basically all neuropsychiatric disorders with Parkinson and Alzheimer and other neurodegenerative disorders, of course. Between twenty percent and ninety percent of all patients in these populations experience apathy from time to time or persistently. With seven fifty seven, we are addressing the, one of the hypotheses around the occurrence of apathy, and that is the lack of connectivity between cortical and subcortical regions.
And the drug actually increases that activity in the brain. So next, please. During Q1, we have completed the Phase one program, which was, to a large extent, funded by Michael J. Fox Foundation. We are extremely grateful for that.
That was a is a very, very fruitful collaboration, helping us to, get this drug through phase one. On top of that, we also have this collaboration with MSRD or which is a branch of Otsuka, which will fund all the other activities. And the funding from Otsuka amounts to around $25,000,000 roughly during the course of the development of the program through the next trial. So the decisions that have been made during the quarter is that we have successfully completed all the preclinical safety toxicology and Phase one activities needed to make a decision to go to the next step. So we have put together during the summer, when you are out swimming and bathing in the warm summer here in Sweden, we, we put together the file for application, and that file is finalized.
And we expect it to be submitted any day, today or tomorrow, actually, at EMA. And this is going to be a quite large study for the indication. We are planning for 90 patient study placebo two different doses of seven fifty seven. And this is an exploratory study where we are collecting a lot of information on various aspects, neuropsychiatric aspects, motor function aspects in this trial. With the data, coming out from that trial, will be the foundation for decisions to move this to, the next step.
But also, during that period, Otsuka has the right to license the program. So there will be license discussions after the Phase 1btwo a study that we are conducting. Next, please. Preclinical programs, we have two of those, nine forty two and eleven seventeen. Next, please.
Nine forty two is intended for cognitive deficits in the disorder in Parkinson's disease and other neurological disorders. This is a huge problem. There are very few alternatives to treat cognitive deficits today, in this population. And we think that 942, has a profile which is, ideal for, for Parkinson's patients, new Alzheimer patients and other patients with neurodegenerative disorders. There's a quite large population available on the market, about six million people have this complication.
For 11/17, this is a really interesting program, where we are looking at next generation treatment for the basic symptoms of Parkinson's. But the next slide, please. We talk a few more words about, nine four two. So this is a huge, cognitive deficits. It's a huge unmet, need, basically, in in this population.
About twelve percent of all adults 65 have this problem. And nine forty two has a very broad, efficacy profile across different modalities of, cognitive deficits. And with this program, we see potential for both symptomatic and actually disease modification. Next, please. During the course of the first half this year, we have finalized the methodology for large scale synthesis of the product.
We have also produced API, a drug substance for the further studies. The studies that we are planning now are the IND enabling or the preclinical studies necessary for getting into Phase I. And we expect to hopefully start those studies next fall, and that is due to priorities in our pipeline. And I'll come to that priority. Next slide, please.
And we are between these two, we are prioritizing the development of eleven seventeen right now. This is a totally new strategy to treat the basic symptoms of Parkinson's disease. The symptoms today treated with levodopa. So about eighty five percent to ninety five percent of all diagnosed patients in the world, get treatments with levodopa today. And a level seventeen acts on the same type of mechanisms like levodopa, but does not induce the complications seen by levodopa and is going to be a once daily treatment instead of up to six, eight times daily treatment.
So what we've done during the course of the second half or the first half of this year, and we'll continue with that the second half of this year, that is to develop the large scale synthesis. This is a I wouldn't say complicated, but a very specific method to synthesize the compound. And this is a highly potent compound, so it it needs specific specific sites to do that. And we are developing the the API right now, And we are doing the preparations now for the regulatory studies to start Phase one, which could be done during the course of next year, getting to Phase one. Next, please.
Sorry, go back one. One very important development during the course of the period, I should have mentioned that. We have done a series of preclinical long term studies with eleven seventeen, addressing different aspects. And one specific aspect is the early discovery that we could treat, in the preclinical models. We can treat animals, and we can say that you have a sustainable, long term effect on motor function improvements without the complications.
If we do parallel studies with, when we do parallel studies with levodopa, I should say, we see some efficacy, but we also see the complications. So the question we have tried to ask right now in the most recent study was why does eleven seventeen not induce the complications? Why is it free of the complications? And that is, to some extent, revealed by this study that we are now going to publish during the course of the coming year, where we see that levodopa has an has a therapeutic effect, but that is concomitant with complications and activation of certain genes in the basal ganglia to specifically, genes that are activated. And they are linked to the complications, the fluctuations, dyskinesias, and dyskinesias.
Nine, eleven seventeen does not induce these yeast. And that is really, really a key finding explaining the profile of eleven seventeen, the benefits of eleven seventeen. So that was a fantastic study, for us, and we will publish this data in detail. Next, please, will be the finance report and handing over to Victor to actually finalize his work here at Air Air Lab with the last presentation of our finances.
Yes. Thank you, Nicolas. We can go straight to the next slide, please. Thank you. Cash position, 54,000,000 at the end of the quarter.
In the leftmost graph, you can also see that we added a gray bar showing the net proceeds from the share issue that we concluded during Q3. But that is just to illustrate how it looks with these with that capital added. So about 56,000,000 added after the set off of loans and cost for the for the share ratio. In the middle graph, we can see that the external costs that we have internally at IR Lab for our own programs has continued to decrease. And it's even more so because the most of the cost for external studies occurred during April.
So that was in May and June, there has been very little external clinical costs for EirLab. However, the light gray bar indicates how much we put into IRL seven fifty seven. And as you can see, that has increased, and that increase is due to the initiation of the the, coming study that we're doing in, in July. So it has begun to draw some cost, and it will continue to cost quite a bit of money in the coming quarters. We still have a focus on cost control.
We will continue with the July, so we will still have quite a lot of cost, but that is mostly related to July. And we also will retain competence in the organization, but we'll try to keep the external costs as low as possible. That is the financial strategy, so to say, to going forward. And we're still above 30 employees 31 to be correct or exact. Next slide, please.
These are the numbers in more detail. The I won't go through them in detail, but of course, you have to take into account the cost that we have for the RL-seven 57 study, which affects our cost. But those costs are always mitigated by the same amount in net sales. So here, you can say that we basically have since we don't have any other net sales, we can see that we have about SEK 24,000,000 as revenue, which is all from the Otsuka seven fifty seven collaboration. Next slide, please.
And as Nicolas mentioned, this is my last quarterly presentation. This is actually my last week at IR Lab. So and I just want to mention that I will continue to be committed to make a smooth transition first to my, my successor, my interim successor, and then to the more long term solution that we I know that that they are working on at the moment. So, I will be there and make sure that everything runs as smooth as possible. But I also thought that this might be a good time to just see what happened with the company during the more than twelve years that I've been involved here.
So, the company started 2013 with two preclinical projects, which are now mistopotam and piripimod. They weren't even called mistopotam and piripimod at that time. They were 07/1952 and July. Today, we have five projects, and, three of those are in clinical stage, and Mr. Obatama and Pirapmat, in late clinical stage.
So clinically and from a research point of view, development point of view, it has been a great journey. We have also increased and strengthened our organization. In the beginning, we were a handful of people that are part time employed, just committing their own time to make sure that this actually happened. And now we are 30 people with all kinds of competencies and everybody highly skilled. From my point of view, we have been able to do 11 share issues, raising almost exactly SEK 900,000,000 during this time, five share issues in the private setting before we took the company public in 2017 and six in the public setting afterwards.
At the same time, we have raised more or less SEK 700,000,000 from BD activities, which includes Ipsen's Mistopotam Mistopotam license and all the money they spent to advance that project. And since it's now our project and our data, that is actually money that has come to our benefit. We have the research collaboration with MSRD and the M. McJay Fox foundations, of course, and also a few grants from Vinova and other governmental grants. So to conclude my more than twelve years here, it has been a tremendous journey, not least proven by the numbers shown on this graph.
So thank you very much. It's been an honor working with all of you and having contact with all of you owners, investors and everybody else that we've been working with during these years. So Kristina?
Before I continue with the concluding remarks, I would also like to extend my big thank you to Victor, who has been a key person in the company, as you have seen. You have contributed not only in the finance aspect, but you are also really good experience with your all legal experience and all legal work you have been doing. So that and the financial part and all the contacts you have had both in Sweden and international regarding the market of financing, that has been, very, very important. And so, it feels a little bit sad to see you moving forward, leaving the company, but, we know that you are looking forward to, a new, a very important role in another company, so that's good. And I also would like to comment that from Monday, September 1, we will have an interim CFO, Roy Jungnegrand, who will take on this work until we have a permanent position for the CFO role.
So I will continue with the concluding words here. If we have the next slide, please. Here we have our quite impressive portfolio, I would say. And, as you heard from Victor, many of these projects have been moving forward in a great progress during all these certain years. We have, five candidates, where three of them are in clinical phase.
As you can see, they are, quite broad indications, covering many of the symptoms and complications that, Parkinson's individual living with Parkinson's experience. We have also focused on, one indication for, everyone first, but we have the opportunity then to extend to a second indication for many of them, which is very good from a market perspective. So with that, I think we move on to the next slide, which is a little bit about the future. Of course, interesting to see what we can expect for value creation milestones coming up. For Mestapetan, we are looking to initiate a Phase III study.
But as you are aware of, we are looking for a partner here, working very hard on that. For Peripramat, we have the fantastic data that we received during spring. And we are working, as you heard from Nicolas, on the development program and planning to initiate another study that will be important for the phase three program. And we have interest from, BD perspective here also, so we continue those discussions. Seven five seven, any day, we will submit the application for starting the trial in Parkinson patients with apathy.
And we are see that the first subject will be dosed likely in Q4 this year. And then we have the preclinical programs nine forty two, where we are moving forward a little bit slower than previously. And then we focus many resources and finance on the 11/17, where we are moving ahead to take that to be ready into Phase one. So by that, I think I hand back over to you, Matthias, to take the Q and A session.
Thank Kristina, Nicolas and Victor. And it's time to welcome equity analyst, Fredrik Thur at Redeye. Please go ahead with your questions, Fredrik.
Yes, hello and thank you. You mentioned this a bit, but regarding IRL seven fifty seven, what are the remaining steps with the MSR de Lutsuyk program? And then for example, if you could specify the time line a bit. And then I was also wondering, is the plan always to out license this program after this single final study regardless if it's MSO or someone else?
Time the timing of the start of the program is that we will we will we will now submit, or if it hasn't been done today, submit the application, then it takes about three months for the or six six sixty to ninety days for Irma to make their decision. The file is extremely clean. This is a very, very nice product from a safety tolerability perspective. So we and and toxicology. So we believe that this will be a smooth ride.
That means that we can start the dosing in q four. And the study is expected to take around eighteen months to complete. So that's that's the timeline from so months from from from the start of dosing, basically. Okay. And that's that's normal in the in the space.
And we are we are looking at, as I said, about 90 patients in in the study or subjects in the study. From a practical collaborative perspective, the program is owned by EARLAB. All data that's generated is owned by EARLAB. And MSRD at Zocab are generously offering our the us their expertise. And we have, let's call it monthly or biweekly almost meetings, discussing the program, going through the data that we generate, and work up the plans for for the coming studies.
So now we have planned that fully. So the only thing now is the execution of the trial. And we are in the driver's seat there together with our CRO who will do the the most of the work with the with the study. And then when we come out of the trial, there will be a decision whether this is worth going forward with or not or not as for any program. And what Otsuka or MSRD have gained during the period is a lot of knowledge, specific knowledge.
And, also, they have the right of first refusal, which means that a license negotiation will be initiated. However, EarLab has the right to opt out of any such offers or negotiations and negotiate with others if we want to during the period. But the ROFR still remains for a for a period after the execution of the trial. Does that respond to your question, Frederic?
Yes. That was a good answer.
Yeah. So Uh-huh. From a from a from a BD from a practical BD perspective, I think this is a very good good setup both for us and for, MSRD and Zuka because we know what we're gonna do. We can prepare, for those discussions right now, and we have a very, very clear potential buyer of the program, which is usually, for any biotech company, the big issue to find the right partner for a for a, for a program. And here, we have already established that partnership.
Got it. But a a follow-up question, like, the terms of a potential deal with the, like, say, deal sizes and so on, that's is that something that that has been discussed, or is that
That that
for later on.
After the data. It it will, of course, depend on the patient population, the specific indications that we will pursue, etcetera. So so numbers as such is not, not discussed at all yet.
Got it.
So so what I also would like to add to this collaboration that might have already been clear through this presentation, but it's very important that already by the timing that we have recruited and starting to dose the subject in this study, we will receive money, milestones payment, and that's related to a number of quarters after. So in total, we will receive the 3,000,000 US dollar for milestones for for this study.
Yes.
And as mentioned, this is value of the collaboration for us is around $25,000,000, which we don't have to raise other in other by other methods.
Yes. And and on the second question about the peer to program, you mentioned that, you had presented a a poster about this, therapeutic window, and and maybe interacted with the scientific community a bit. Can you say anything about that? Does it, yeah, seem reasonable to find this therapeutic window in in in a bit of math? The best feedback?
Yeah. Absolutely. With the data we have, we know that we we need to be somewhere between concentration a and concentration b, and that can be reached in a very specific dose, dose, dosing regimen. It's not, it it's not rocket science. It's quite simple, but it needs to be done, and it needs to improve.
We think that is important, an important step, to move this so that we can use that dosing strategy or titration strategy for the phase three studies.
And you mentioned also a scientific or the study the design for the next study with PIVMAUT. It would be interesting to tell you as to what what what is the ambition of the study, like, in in terms of how how big and how long is it for to prove this, yeah, relatively specific Even thing if compared to the previous
it gets in the effect size that we see in the phase 2b study, we do not expect this to be a very large study. So, it's gonna be a quite small study compared to placebo and, the treatment, doing the same kind of, dose increases in both arms, basically. That is what we're we're looking at. It's a small small trial. It's not a very expensive study.
And and the duration compared to the previous trial is not the study more shorter?
Since we have fewer patients, much shorter. Recruitment time is always the the limiting factor for any trial.
Got it. And, yeah, business development is, of course, prioritized, and it has has taken a bit longer than maybe expected from the market. Can you update us a bit more on on your discussions? Is there one program in particular that is that there is a more interest, or is it relatively broad? Or yeah. What what can you say about ongoing discussions?
I can start off. So as you see, we have five candidates, and I I think we are lacking that way because there are a a huge interest for many of these. So it's not only messed up a ton that we have focusing on earlier. We have been talking about Peripramat seven fifty seven for obvious reason. We are not talking right now because that's the MSL Diotoke, but also for the preclinical assets.
As you probably have seen earlier this week, or it might have been earlier last week, it was a deal also, by another smaller biopharma company, and preclinical assets are quite nowadays also. So it's a good interest there too.
Yep. I have nothing to add, basically. But but from from a boring risk reduction perspective, of course, we we have a very strong focus on Maestroplatan to get that role on the role for for phase three. However, as as Christina mentioned, we have a huge interest in all our other assets, and Perotmart is the next one to come out in in discussions. So that's that's our we we we are putting that that presentation together.
We are working on the publication. We think that is a key a key part of the value proposition there.
And I can just comment also that when we performed the right issue, it was very clear that our focus now is really do business with our assets. So that's really what we're focusing on the coming year here now.
Yep. Makes sense. And maybe a final question about you mentioned about 11/17 and this widespread complications so that it doesn't activate certain genes. Right? So so is is the hope to to be able to treat patients indefinitely, or or or what is the what's the hope here, I mean, given that you otherwise have to move on to to DBS or something?
Long term treatment. But, as for any development program, we have to focus initially on on a specific population of patients. So those are with the so and we haven't discussed that publicly what we're gonna do, and we will come out with that when we have the protocols and the strategies finalized. But we are looking at we are looking at continuous treatment with with eleven seventeen. Switching from levodopa to eleven 17 is a is an important aspect of the program.
And and and one question outside was about the ISP, the platform. You mentioned a few known preclinical assets, but are other assets in the works? What could happen after these two assets? Is that post a bit now, or or is it an ongoing process to have more potential?
It's impossible to prevent scientists from, discovering things. Once once you put that that that that snowballing motion, it it grows. So, of course, there there are ideas, but we have to be careful in in what what we lift and what we do. We want to make sure that we can commercialize products. We want to be sure that we can protect them with IP.
So that's part of the very secretive work we are doing here. Having said that, I I have to mention that that eleven seventeen has kind of gulped or engulfed the organization from an r and d preclinical r and d perspective during the past two years. That program is not only eleven seventeen. There's analogs, etcetera. We have looked at carefully.
So that program has basically been been the main focus over the past past year in in in combination with nine four two to some extent. But when when we have completed that work, we, of course, we look at additional things that we can lift up.
Sounds good. That's all the questions I had. Thank you very much.
Thank you. Thank you.
We're at red eye for those questions, and I will raise a few more. First of all, congratulations, Viktor Severs, for your great work at Arlab for twelve years. And also for that last shared issue, what was the interest to participate?
You well, the interest was good. We had really good roster of guarantors. So we it was guaranteed to 85%, and that is where it landed as well, which was according to expectation. So we're happy with the outcome.
Okay. Thank you, and good luck on your next carrier move. If we turn to the 11:17, when do you expect to be able to present some results here? What's the time line?
Results from
what? The first phase.
The process now is production of API, completing the, what's called, IND enabling studies. These are tox studies, safety studies. So we expect that, that could be done during '26. And so somewhere in the in the turn late next year or early twenty twenty seven, we will start the phase one program for for the for the asset. And the phase one program usually takes about a year to complete with reports, etcetera.
Okay.
And the the important thing with 11/17 is that already in phase one, we we may be able to include Parkinson patients so we can get efficacy signals very early with this program. And that's one of the reasons we are actually pursuing that with priority right now. We can get clinical data much more rapidly than for any other asset.
Okay. That's very interesting, yes. And I can I see that there has been a growing interest from investors? During 2025, you have grown your shareholder number by 11%. And if you were to explain to investors that are not medical experts regarding the IRL seven fifty seven that address apathy, how could you describe the study when it comes to what methods and what kind of data is it that you're collecting?
Yes. As I said when in the presentation, we are we are placebo and two different doses. So that's the basics. Ninety patients, that's thirty patients roughly per arm in this study. And we are collecting data relating to apathy, apathy scales.
We are looking at other neuropsychiatric effects of the compound. We are looking at motor function. We are looking at specific neurophysiological effects relating to actually what happens with the with the eyes. There is a very tight connection between the neural pathways that we are trying to affect with seven five seven and pupil size. May sound strange, but that's the case.
And then so that's a very quick and and effective way of measuring target engagement. And then we have we are looking at, let's call it, strength in different types of limbs, in hands, etcetera. That's also coupled directly to activation of frontal cortical functions. And the purpose of seven five seven is to activate frontal cortical function. The the protocol is not published.
It will be soon public, but but not not not we haven't we haven't communicated anything about it. So there's a lot of aspects that we are measuring. And then, of course, pharmacokinetics where effects on various various endpoints in blood, etcetera, so that we get a full picture of what this drug does to the body of these patients and what it does from an efficacy standpoint. And that all that data will then be discussed after the Phase 1b2a study.
Okay. Thank you so much, Nicolas. And Kristina, last question regarding partnering discussions besides MCR or Zuka. What can you tell us regarding ongoing discussions?
I think you can understand that this is quite sensitive. So what I can say is that we are moving ahead with discussions. There are a number of interesting partners from both sides. So the future will guidance, we will see. But it looks promising.
Okay. Thank you. That was all the questions for you today. Thank you so much for your participation and good luck going forward.
Thank you so much and thanks for everyone calling in and for the interest in iLab.