Exegiline Pharma is developing a novel multifunctional oral drug, MT-031, for the treatment of dementia and Alzheimer's disease. MT-031's structure combines rivastigmine (Exelon) and rasagiline (Azilect) moieties and has the beneficial properties of both and more. It works as a dual acetylcholinesterase (AChE) and butyrylcholinesterase (BuChE) inhibitor as well a selective irreversible inhibition of MAO-A. MT-031 has a brain-permeable novel multifunctional MAO-AChE/BuChe inhibitor, anti-inflammatory properties, neuroprotective activity, and cognitive- and memory-enhancing activities. The molecule and its indications are protected by US and European patents. The company was established at Youdim Pharmaceuticals, a pharmaceutical company and incubator.