- NLS Pharmaceutics (NLSP, Financial) announces an additional $166,000 milestone payment from the BIRD Foundation for the iTOL-102 diabetes program.
- Total funding from the BIRD Foundation for the program now stands at $882,352, demonstrating strong financial backing.
- The iTOL-102 program has shown promising results in preclinical studies, moving toward safety toxicology studies and clinical trial submissions.
NLS Pharmaceutics Ltd. (NLSP) has announced continued progress in its iTOL-102 diabetes program with an additional milestone payment of $166,000 from the BIRD Foundation to its collaborators, Kadimastem and iTolerance. This brings the total funding from the BIRD Foundation to $882,352.
The iTOL-102 therapy is being developed as a potential cure for Type 1 diabetes. It combines Kadimastem's IsletRx technology with iTolerance's iTOL-100 immunomodulatory platform, potentially eliminating the need for life-long immunosuppression drugs.
The announcement follows a successful Pre-IND meeting with the FDA, which provided guidance on the clinical development pathway, advancing the therapy towards safety toxicology studies and clinical trial submissions. Preclinical studies conducted at the University of Miami's Diabetes Research Institute demonstrated functional insulin secretion and disease reversal in diabetic animal models.
The milestone payment signifies ongoing external validation and confidence in the technology from a respected funding source. Both companies continue to prepare for clinical trials, which are expected to commence following the completion of necessary regulatory processes.
