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Other projects, which address multiple sclerosis and rheumatoid arthritis, are at preclinical and proof-of-concept research stages, respectively. Founded in 2010, Imcyse is a spin-off from the Katholieke Universiteit Leuven (KUL), Belgium. The company is based near the Belgian city of Liège. It is managed by a small group of pharmaceutical industry experts. Imcyse has already raised a total of €20 million from private and public investors.