A Study to Determine the Safety & Efficacy of ZPL-5212372 in Healthy Subjects and in Subjects With Atopic Dermatitis

Inclusion Criteria:

• Healthy males or females, aged between 18 and 55 years, inclusive (healthy is definedas no clinically relevant abnormalities identified by a detailed medical history, fullphysical examination, including blood pressure and pulse rate measurement, 12-lead ECGand clinical laboratory tests). or Males and females aged 18-65 years inclusive with physician documented history or diagnosisof atopic dermatitis for at least 6 months prior to screening. AD should be diagnosed bythe Eichenfield revised criteria of Hanifin and Rajka. For Atopic Dermatitis Patients: Eczema Area and Severity Index (EASI) of ≥9 and <48 at Screening and an EASI of ≥12 and <48at Day 1. An Investigator's Global Assessment (IGA) score ≥ 3 at both Screening and Day 1. Atopic dermatitis affecting between ≥10 to <40% BSA at Screening and ≥10% to <50% BSA onDay 1. All Subjects: Evidence of a personally signed and dated informed consent form, indicating that thesubject has been informed of all pertinent aspects of the study.

Exclusion Criteria: For Healthy Subjects

• Evidence or history of clinically significant haematological, renal, endocrine,pulmonary, gastrointestinal, cardiovascular, hepatic, psychiatric, neurologic, orallergic disease (including drug allergies, but excluding untreated, asymptomatic,seasonal allergies at time of dosing).

• Have tattoos covering areas of skin to be dosed with study ointment.

• Subjects who are hirsute in areas of skin to be dosed with study ointment.

• Subjects who have received treatment with an investigational drug within 3 monthsprior to screening. For Atopic Dermatitis Patients:

• AD of such severity (EASI >48) that the subject could not comply with the demands ofthe study and/or the subject is not a suitable candidate for a placebo-controlledstudy.

• Have concomitant skin disease or infection (e.g. acne, impetigo) or presence of skincomorbidities in the study area to be dosed that may interfere with study assessments.

• Have received phototherapy (e.g. UVA, UVB or PUVA therapy), or systemic therapy (e.g.immunosuppressants [such as cyclosporine, azathioprine, methotrexate], cytostatics)known or suspected to have an effect on AD, within 4 weeks of the start of the study.All other biologics should not have been used within 3 months of the start of study.

• Have received systemic corticosteroids (e.g. oral, intravenous, intraarticular,rectal) within 4 weeks of the start of the study. Subjects on a stable maintenancedose (over the preceding 3 months) of inhaled or intranasal CS may participate.

• Patients treated with oral antihistamines or topical calcineurin inhibitors or topicalsteroids within 7 days of starting study; intranasal antihistamines for the treatmentof allergic rhinitis are acceptable.