Innate Immunotherapeutics is an unusual biotech company in Australia, because we are 44 per cent owned by private, wealthy US investors. Approximately 25 per cent of the company is owned by Australians that have invested in the company over the last two years.
Strategically, we have the largest MS society in the world on our register in our top 10 shareholders and that is the MS Society of the United States and that reflects the fact that they have contributed about $600,000 US dollars into the early clinical development of our drug.
Our lead drug candidate MIS416 is right now part way through Phase 2B study in patients with secondary, progressive, multiple sclerosis. That study will complete in the clinic in April 2017.
What is unusual about this program is that we already have a strong indication that our drug has positive activity in these patients. We have been running a compassionate use program in New Zealand over the past 8 years.