Gothenburg, Sweden, November 13, 2026 – IRLAB Therapeutics AB (Nasdaq Stockholm: IRLAB A), a company discovering and developing novel treatments for Parkinson’s disease, today announced that the interim report for the period January-September 2026, has been published.
KEY HIGHLIGHTS DURING AND AFTER THE THIRD QUARTER
FINANCIAL OVERVIEW OF THIRD QUARTER
Figures in brackets = same period 2025, unless otherwise stated.
PRESENTATION TO INVESTORS AND MEDIA
Friday, November 13, 2026, at 11.30 CEST a presentation of the interim report 2026 will be held through a digital webcast. The presentation will be held in Swedish, followed by a Q&A session.
Access via link: https://youtube.com/live/BVyS3xkV3vU?feature=share
COMMENTS FROM THE CEO
During the quarter, we continued to strengthen our development portfolio. The progress of linepemat, from scientific publication to continued clinical development in collaboration with Otsuka, confirms the potential of our research platform and our ability to develop innovative drug candidates. For IRL1117, the announcement that the US Patent and Trademark Office (USPTO) intends to grant the project's first patent further strengthens its commercial potential and provides long-term intellectual property protection. In addition, we have now initiated the preclinical safety and toxicology studies, as well as the scale-up of drug substance manufacturing.
Through our AI-based research platform, ISP, we have built one of the world’s broadest development portfolios in Parkinson’s disease. At this stage, we believe that continued investment in generating new development programs would not create sufficient shareholder value. Consequently, following the reporting period, we announced our intention to focus resources on business development, strategic partnerships, and maximizing the value of our existing portfolio. Through a stronger commercial focus and a leaner, more cost-efficient organization, we aim to convert the portfolio’s substantial potential into revenue-generating agreements and sustainable long-term value creation. The proposed organizational changes remain subject to consultations with employee representative organizations.
During the quarter, Janne Backman assumed the role of Chairman of the Board. Janne brings extensive experience in international business development and commercialization, which will be highly valuable as IRLAB advances its strategic priorities and continues its development. I have also informed the Board of my intention to step down as CEO during the first quarter of 2027. Until then, I will continue to work closely with the Board, management team, and employees to advance our business development efforts and create the best possible conditions for the company’s continued success.
Linepemat – important progress toward the next milestone
During the quarter, the linepemat project reached an important scientific milestone with the publication of the preclinical research that formed the foundation for the drug candidate. The publication contributes to a greater understanding of its unique mechanism of action. Furthermore, the fact that the results have undergone independent peer review strengthens the project's scientific basis and serves as an important validation of its quality.
At the same time, recruitment continues in LIFT-PD, our Phase Ib study evaluating linepemat for the treatment of apathy in Parkinson’s disease. Following the end of the quarter, we received the third and final milestone payment of USD 1 million related to the study, and we now look forward to the study results, which are expected in mid-2027.
Linepemat is being developed within the framework of our collaboration with Otsuka, which is funding the ongoing clinical study. The progress being made in the project confirms the strength of our research platform and our ability to develop innovative drug candidates for areas of significant unmet medical need. It also serves as a clear example of how our research can be translated into development programs that attract leading global pharmaceutical companies.
Apathy is one of the most debilitating symptoms of Parkinson’s disease and other neurological disorders, yet there are currently no approved treatments available. For this reason, I believe that linepemat has significant commercial potential, while also having the potential to make a meaningful difference in the lives of patients and their families.
IRL1117 – patent decision strengthens the project’s commercial potential
IRL1117 has the potential to transform the treatment of Parkinson’s disease by addressing its core symptoms through a novel mechanism of action, without causing the long-term side effects often associated with current therapies. Our ambition is to develop an oral, once-daily therapy that can provide more consistent and sustained symptom control over time.
A significant milestone during the period was the announcement that the US Patent and Trademark Office (USPTO) intends to grant a patent for IRL1117. The patent has the potential to provide strong intellectual property protection in the world’s largest pharmaceutical market, extending into the 2040s. This strengthens the project’s commercial potential and further validates the innovation underpinning the drug candidate.
During the quarter, we continued preparations to advance IRL1117 into clinical development. The successful rights issue and overallotment option completed during the quarter have enabled us to take the next important steps in the development program, including the initiation of preclinical safety and toxicology studies and the scale-up of drug substance manufacturing. These activities are progressing according to plan and are critical to supporting a future application to initiate the first Phase I clinical trial.
IRL1117 is one of the most promising assets in our portfolio and exemplifies the productivity of our AI-based research platform, ISP. With a differentiated profile, strong patent position, and the potential to address a significant unmet medical need, we believe the project represents an attractive future partnering opportunity.
Focus on realizing the value of our project portfolio
The new integrated analysis of clinical data for mesdopetam, presented in August, has generated significant interest among potential partners and helped advance several licensing discussions. Based on pooled data from our Phase II studies, the analysis further strengthens the evidence that the drug candidate demonstrates clinically meaningful efficacy and a favorable safety profile.
IRLAB has built one of the broadest development portfolios in Parkinson’s disease through its AI-based research platform, ISP, and is now sharpening its focus on realizing the value that has been created. The ongoing business development discussions regarding several of our drug candidates continue to reinforce our confidence in the portfolio’s commercial potential.
Based on the ongoing dialogues, we continue to see strong opportunities to enter into commercially attractive agreements for several of our drug candidates, however, it is taking longer than anticipated. This reflects the complexity of generating revenues from promising development assets and underscores the need to further strengthen our business development efforts.
Following a strategic review, IRLAB has decided to concentrate the company’s resources on business development, partnership activities, and continued value-enhancing work within its existing portfolio. As a result, we are planning to resize the organization and reduce our cost base. While this decision will unfortunately affect several highly valued employees, it is necessary to ensure that our resources are directed to the areas with the greatest potential to create value. At the same time, we are strengthening our commercial capabilities to better convert the portfolio’s substantial potential into future partnerships and revenue-generating agreements. In parallel, we continue to review our overall cost base to identify and implement additional cost-saving measures.
The measures I have described above give us an organization that is better suited to what is now our main task: securing agreements and building long-term value from the scientific progress we have already achieved.
I would like to thank our employees for their professionalism, resilience, and dedication during a demanding period, as well as our shareholders and partners for their continued support and confidence in IRLAB.