Algernon NeuroScience Appoints Global TBI Expert and Former NFL Neurological Player Care Safety Director Dr. David Brody to Advisory Board

Rhea-AI Summary

Algernon Pharmaceuticals Inc. (CSE: AGN) (OTCQB: AGNPF) announced the appointment of Dr. David L. Brody as a consultant for its Traumatic Brain Injury (TBI) clinical research program involving DMT (AP-188). Dr. Brody, a board-certified neurologist with extensive experience in TBI, previously served at Washington University and was involved in the NFL's neurological player care program. His collaboration aims to enhance the understanding and treatment of TBI, focusing on neuroplasticity amidst the lack of approved pharmacological options. Algernon NeuroScience, a subsidiary of Algernon, is seeking to raise up to $10 million for advancing its DMT research through a Tier II Regulation A+ offering.

Positive

• Appointment of Dr. David L. Brody, a recognized expert in TBI, enhances the capability of the clinical research program.
• Focus on neuroplasticity in TBI treatment addresses a significant unmet medical need.

Negative

• The lack of approved pharmacological options for TBI could indicate challenges in the market.

VANCOUVER, British Columbia, March 02, 2023 (GLOBE NEWSWIRE) -- Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW0) (OTCQB: AGNPF) (the “Company” or “Algernon”), a clinical stage pharmaceutical development company, is pleased to announce that its subsidiary Algernon NeuroScience (AGN Neuro) has appointed Dr. David L. Brody as a consultant for its clinical research program for the treatment of Traumatic Brain Injury (TBI) with AP-188 (“N,N-Dimethyltryptamine or DMT”).

Dr. Brody, MD, PhD is a board-certified neurologist with both a research and a clinical specialization in TBI and neurodegenerative diseases. Dr. Brody was the Norman J. Stupp Professor of Neurology at the Washington University School of Medicine in St. Louis. Dr. Brody was also the Washington University site director for the National Football League (NFL) Neurological player care program. His research focuses on accelerating implications for better diagnosis, treatment and outcomes of traumatic brain injury.

Dr. Brody’s achievements have been recognized with several awards, including a Career Development Award from the National Institute of Neurological Disorders and Stroke (NINDS) and a Burroughs Wellcome Career Award in the Biomedical Sciences. His clinical monograph entitled Concussion Care Manual: A Practical Guide was published by Oxford University Press in 2014. Dr. Brody is the editor in chief of the Journal of Neurotrauma and a member of the Editorial Board of Acta Neuropathologica.

“Algernon has identified a novel approach to potentially treat TBI patients focused on neuroplasticity, which would be welcome in a clinical environment without any approved pharmacological options,” said Dr Brody. “I am excited to help further the science and work with them on advancing the DMT research TBI program through clinical trials.”

Christopher J. Moreau, CEO of Algernon Pharmaceuticals, stated, “We welcome Dr. Brody to the Algernon team and look forward benefitting from his unique clinical and research experience, especially his involvement in the NFL player care program as we design our clinical studies of DMT for TBI patients.”

About Algernon NeuroScience

Algernon NeuroScience is a private equity subsidiary of Algernon Pharmaceuticals and has been created to advance the Company’s DMT stroke research program. AGN Neuro has filed a Form 1-A offering statement with the U.S. Securities and Exchange Commission, seeking qualification to raise up to USD $10M for AGN Neuro by offering up to 37.5% of its common shares, (including the maximum amount of bonus shares) with majority ownership residing with AGN Pharma, under a Tier II Regulation A+ offering.

About Algernon Pharmaceuticals Inc. 

Algernon Pharmaceuticals is a Canadian clinical stage drug development company investigating multiple drugs for unmet global medical needs. Algernon Pharmaceuticals has active research programs for IPF, chronic cough, and chronic kidney disease, and is the parent company of a newly created private subsidiary called Algernon NeuroScience, that is investigating a proprietary form of the psychedelic compound DMT for stroke and traumatic brain injury.

CONTACT INFORMATION

Christopher J. Moreau
CEO
Algernon Pharmaceuticals Inc.
604.398.4175 ext 701
info@algernonpharmaceuticals.com
investors@algernonpharmaceuticals.com
www.algernonpharmaceuticals.com.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY DISCLAIMER STATEMENT: No Securities Exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

FAQ

What is the significance of Dr. David L. Brody's appointment for AGNPF?

Dr. Brody's appointment as a consultant for Algernon's TBI research program brings expertise and credibility, which may strengthen the company's clinical trials for DMT treatment.

What role will Dr. Brody play in Algernon Pharmaceuticals?

Dr. Brody will advise on the clinical research program for DMT treatment of TBI, leveraging his extensive experience in neurology.

What are the financial goals of Algernon's subsidiary Algernon NeuroScience?

Algernon NeuroScience aims to raise up to $10 million through a Tier II Regulation A+ offering to support its DMT stroke research.

How does the research focus on neuroplasticity impact TBI treatment?

The focus on neuroplasticity offers a novel approach to treating TBI, which currently has no approved pharmacological options.