AmyriAD Therapeutics Acquires Recognify Life Sciences, Expanding Its Clinical-Stage Cognition Pipeline with RL-007 (Inidascamine)

EmitenTrust.com All-share transaction: Recognify shareholders – including atai Life Sciences, Catalio Capital Management and Sudhoff Family Office – become shareholders of AmyriAD

RL-007 adds a differentiated clinical-stage cognition program in Cognitive Impairment Associated with Schizophrenia (CIAS) and Alzheimer's disease

AMSTERDAM and SHERWOOD, Ore., Oct. 7, 2026 /PRNewswire/ -- AmyriAD Therapeutics B.V. ("AmyriAD"), a clinical-stage biopharmaceutical company focused on cognition in central nervous system disorders, today announced the acquisition of Recognify Life Sciences, Inc. ("Recognify") and its lead clinical-stage program, RL-007 (inidascamine). The acquisition expands AmyriAD's cognition pipeline while preserving Ismidenon (AD-101) as the company's lead Alzheimer's disease program.

RL-007 is an orally administered, first-in-class pro-cognitive compound that modulates cholinergic, glutamatergic and GABA-B receptor activity, designed to restore the balance of excitatory and inhibitory signaling that underlies cognitive dysfunction across multiple CNS disorders. The compound has been studied in 500 subjects to date and has demonstrated a consistent safety and tolerability profile, with no evidence of sedation, weight gain or extrapyramidal symptoms in its most recent Phase 2b study.

Strategic Rationale

The acquisition strengthens AmyriAD's clinical-stage cognition pipeline while preserving Ismidenon as the company's lead Alzheimer's disease program.

RL-007 adds a differentiated pro-cognitive mechanism with clinical-stage experience in Cognitive Impairment Associated with Schizophrenia (CIAS), giving AmyriAD greater depth within cognition while creating a second development path in a large, underserved CNS indication.

"RL-007 fits squarely into what AmyriAD was built to do," said Ranga Krishnan, M.D., Chair of the Board of AmyriAD. "We are a cognition company. Our lead asset, ismidenon, targets cognitive decline in Alzheimer's disease, and RL-007 adds clinical-stage depth to that same strategic focus through a differentiated mechanism and a second cognition indication that has already shown pro-cognitive signals in schizophrenia. The Phase 2b data taught us a great deal about dose, exposure and endpoint selection. We intend to apply those learnings to a reformulated product and a sharper clinical program in both CIAS and Alzheimer's disease. We are equally pleased to welcome atai, Catalio and Sudhoff as shareholders of AmyriAD – investors who know this asset well and share our conviction in it."

"AmyriAD's singular focus on cognition and its experienced CNS team make it the right owner to take inidascamine forward. As shareholders, we look forward to participating in the program's next chapter," said Matthew P. Pando, Ph.D., President & CEO of Recognify Life Sciences.

Development Plan

AmyriAD intends to:

• Optimize RL-007 formulation and exposure: A pharmacokinetic study initiated by Recognify is ongoing and will be completed by AmyriAD, with results expected in H1 2027.
• Advance RL-007 in CIAS: CIAS represents a substantial unmet need with no approved therapies specifically targeting cognitive impairment. Cognitive impairment is estimated to affect more than 80% of the approximately 24 million people living with schizophrenia worldwide. While RL-007 did not meet statistical significance on the MCCB neurocognitive composite at week 6 in the Phase 2b study (n=242), numerical improvements were observed across several cognitive domains, including Symbol Coding, Speed of Processing and Verbal Learning, along with directionally positive effects on functional capacity as measured by VRFCAT. The reformulated product and refined trial design will build on these findings by focusing on the domains where the strongest signals were observed.
• Initiate development in disorders with cognition impairment: Leveraging AmyriAD's existing clinical infrastructure, investigator network and regulatory experience from the ismidenon program, a Phase 2 study in mild-to-moderate Alzheimer's disease is planned for 2027/2028.

Transaction Terms

Under the terms of the agreement, AmyriAD acquired Recognify and the rights and assets associated with RL-007. The transaction included an equity-based consideration structure with additional consideration linked to future development milestones. AmyriAD will support the continued development of RL-007, including completion of the ongoing pharmacokinetic study, with transition support expected from members of the Recognify team.

About RL-007 (inidascamine)

RL-007 is an orally available small molecule that modulates cholinergic, glutamatergic and GABA-B receptor signaling to enhance cognitive function. Advanced clinically by Recognify Life Sciences, RL-007 has completed Phase 2a and Phase 2b studies in cognitive impairment associated with schizophrenia. Across its clinical program, RL-007 has been well tolerated, with a safety profile that distinguishes it from many CNS agents.

About AmyriAD Therapeutics

AmyriAD Therapeutics B.V. is a clinical-stage biopharmaceutical company focused on restoring cognitive function in CNS disorders. The company's lead program, ismidenon, is a T-type calcium channel modulator being developed as a symptomatic treatment for cognitive impairment in Alzheimer's disease on top of standard of care, with a Phase 2b study planned to begin dosing in 2027. AmyriAD is building a focused portfolio of clinical-stage cognition assets through disciplined, equity-based acquisitions. The company is headquartered in Amsterdam, the Netherlands, with U.S. operations through AmyriAD Pharma, Inc. in Sherwood, Oregon. For more information, visit www.amyriadtherapeutics.com.

About Recognify Life Sciences

Recognify Life Sciences, Inc. is a clinical-stage biotechnology company founded to develop pro-cognitive treatments for patients with schizophrenia and other CNS disorders. Prior to the acquisition, Recognify was a portfolio company of atai Life Sciences, backed by Catalio Capital Management and Sudhoff Family Office. Recognify is now a wholly owned subsidiary of AmyriAD Therapeutics.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the anticipated benefits of the acquisition, the planned reformulation of RL-007, the timing, design and outcome of future clinical studies in CIAS and Alzheimer's disease, and AmyriAD's development strategy and financing plans. These statements are based on current expectations and are subject to risks and uncertainties, including the risk that clinical results will not replicate earlier findings, that regulatory authorities may require additional studies, that AmyriAD may not obtain sufficient funding to execute its plans, and other risks inherent in drug development. AmyriAD undertakes no obligation to update forward-looking statements except as required by law. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.

Contacts

Kim Bruin, 424221@email4pr.com (Investors)

Ankil Patel, 917-561-6464, 424221@email4pr.com (Media)

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