Highlights

  • Patrys advanced an intravenous quetiapine formulation, RLS-2202, into a Phase 1a study during 2026.
  • The first four participants completed dosing and required follow-up by 29 September 2026.
  • The study examines safety, tolerability and how RLS-2202 moves through the body.
  • A safety committee review was scheduled for October before any progression to the second cohort.
  • The company also maintains an early-stage deoxymab antibody research platform.

Patrys Limited (ASX:PAB) develops an injectable formulation of quetiapine for potential use in delirium and researches deoxymab antibodies for cancer and inflammatory conditions. Its 2026 activity has centred on starting human evaluation of RLS-2202, while preserving research options for its antibody platform. The distinction matters because the clinical program and the laboratory-stage technology are at different points of development.

RLS-2202 Reaches Human Testing

Patrys Limited (ASX:PAB) reported on 29 September 2026 that all four participants in the first cohort of its RLS-2202 Phase 1a trial had completed dosing and the required follow-up period. The formulation is an intravenous version of quetiapine being investigated for acute-care settings where delirium can affect patients.

The Phase 1a program is designed as a two-cohort, two-period intravenous-versus-oral crossover study involving 16 healthy volunteers. Its purpose is to gather safety, tolerability and pharmacokinetic information, including how the drug is processed by the body. This is an early clinical assessment, not evidence that the formulation effectively treats delirium.

Patrys Limited (ASX:PAB) said the independent Safety Review Committee was scheduled to assess available first-cohort data in October 2026. Progression to the second cohort depends on that review and on quality testing and release of clinical material. The company was targeting final participant dosing in the fourth quarter of calendar 2026, subject to those conditions.

Trial Infrastructure and Regulatory Process

The 2026 clinical work follows site and trial-management appointments announced in May. The company selected CMAX in Adelaide as the study site and Alithia Life Sciences to oversee clinical trial operations. Human Research Ethics Committee approval and acknowledgement by Australia’s Therapeutic Goods Administration preceded participant dosing.

For Patrys Limited (ASX:PAB), the trial provides a structured process for determining whether the formulation can advance to later research. Study completion alone will not establish approval for clinical use. Further development would depend on results, manufacturing quality, regulatory requirements and the design of subsequent trials.

What the Deoxymab Platform Involves

Alongside RLS-2202, Patrys Limited (ASX:PAB) describes deoxymabs as an early-stage antibody platform being researched for cancer and inflammatory disease applications. The technology is being investigated for interactions with biological processes linked to disease, including NETosis, a process involving immune cells.

Research into antibody entry into cell nuclei and interference with DNA repair concerns experimental mechanisms, rather than demonstrated clinical outcomes in patients. No 2026 human efficacy result was verified for the platform, so claims that it eradicates tumours, crosses biological barriers in patients or improves survival are not warranted.

Development Considerations

As clinical testing proceeds, Patrys Limited (ASX:PAB) faces the ordinary uncertainties associated with drug development. Safety observations, dose selection, production consistency and subsequent regulatory studies all influence whether RLS-2202 can progress. The company also needs to allocate research resources between its clinical formulation and earlier-stage antibody work.

In its April 2026 quarterly report, Patrys disclosed completion of its Reliis acquisition and a subsequent A$3.2 million placement. That financing was described as supporting near-term clinical and regulatory activities; it should not be interpreted as evidence that later clinical stages are fully funded.

Key Insights

Patrys Limited (ASX:PAB) entered a more defined clinical evaluation phase in 2026 through RLS-2202. The first cohort’s completion establishes that planned study procedures occurred, while the next information of consequence concerns reviewed safety and pharmacokinetic data. Deoxymab research remains a separate, earlier-stage activity with different evidence requirements.