Irlab: Global licensing deal for mesdopetam - Edison

IRLAB has signed an exclusive global licensing agreement with Ipsen worth up to $363m for its lead asset, mesdopetam, which is currently in a Phase IIb/III study in Parkinson’s disease (PD) patients with levodopa-induced dyskinesias (PD-LIDs). IRLAB will receive a $28m upfront payment and is eligible to receive up to $335m in potential development, regulatory and commercial milestones (spread across multiple indications) plus low double-digit tiered royalties on net sales. This deal provides strong external validation of mesdopetam’s potential as well as IRLAB’s Integrative Screening Process (ISP) research platform that discovered it. While IRLAB will still be responsible for the ongoing Phase IIb/III study in PD-LIDs, Ipsen will assume responsibility for all remaining clinical development and global commercialisation. This significantly de-risks its development for IRLAB and allows it to focus on pirepemat (IRL752) in PD-related falls and its preclinical assets (including IRL942 and IRL1009), potentially expediting their development. Our forecasts are under review.