Algernon NeuroScience Appoints Validcare as CRO for its Phase 2a DMT Human Stroke Trial and Announces Validcare’s USD $170K Equity Investment
Algernon NeuroScience has appointed Validcare as the Contract Research Organization (CRO) for its upcoming Phase 2a DMT stroke trial in Europe. The study, involving 40 stroke patients, is set to begin enrollment in Q3 2025. As part of the agreement, Validcare will invest US $170,000 in AGN Neuro through equity stakes, with investments staged throughout the study's progress.
The trial will be randomized, double-blind, and placebo-controlled. Validcare's CEO highlighted promising pre-clinical data showing DMT's effectiveness in reducing ischemic stroke damage and restoring motor function. Notably, approximately 85% of ischemic stroke patients are currently unable or ineligible for interventional treatment, emphasizing the potential significance of DMT in promoting neuroplasticity and brain recovery post-injury.
Additionally, AGN Pharma has cancelled 684,000 previously granted stock options with exercise prices between $1.03 to $8.75 and expiry dates from February 2025 to August 2027.
Algernon NeuroScience ha nominato Validcare come Organizzazione di Ricerca Contrattuale (CRO) per il suo prossimo trial DMT di Fase 2a per l'ictus in Europa. Lo studio, che coinvolgerà 40 pazienti colpiti da ictus, inizierà le iscrizioni nel terzo trimestre del 2025. Nell'ambito dell'accordo, Validcare investirà 170.000 USD in AGN Neuro attraverso quote azionarie, con investimenti suddivisi durante il progresso dello studio.
Il trial sarà randomizzato, in doppio cieco e controllato con placebo. Il CEO di Validcare ha evidenziato dati preclinici promettenti che mostrano l'efficacia del DMT nella riduzione dei danni causati dall'ictus ischemico e nel ripristino della funzione motoria. È importante notare che attualmente circa l'85% dei pazienti colpiti da ictus ischemico è incapace o non idoneo a trattamenti interventistici, sottolineando il potenziale significato del DMT nel promuovere la neuroplasticità e il recupero cerebrale dopo un infortunio.
Inoltre, AGN Pharma ha annullato 684.000 opzioni su azioni precedentemente concesse con prezzi di esercizio compresi tra 1,03 USD e 8,75 USD e scadenze da febbraio 2025 ad agosto 2027.
Algernon NeuroScience ha nombrado a Validcare como la Organización de Investigación Contratual (CRO) para su próximo ensayo DMT de Fase 2a para ictus en Europa. El estudio, que involucrará a 40 pacientes con ictus, comenzará la inscripción en el tercer trimestre de 2025. Como parte del acuerdo, Validcare invertirá 170,000 USD en AGN Neuro a través de participaciones accionarias, con inversiones distribuidas a lo largo del progreso del estudio.
El ensayo será aleatorio, doble ciego y controlado con placebo. El CEO de Validcare destacó datos preclínicos prometedores que muestran la eficacia del DMT en la reducción del daño por ictus ischemico y en la restauración de la función motora. Es notable que aproximadamente el 85% de los pacientes con ictus isquémico no pueden o no son elegibles para tratamientos intervencionistas, subrayando la posible importancia del DMT en la promoción de la neuroplasticidad y la recuperación cerebral después de una lesión.
Además, AGN Pharma ha cancelado 684,000 opciones sobre acciones previamente concedidas con precios de ejercicio entre 1.03 USD y 8.75 USD y fechas de vencimiento desde febrero de 2025 hasta agosto de 2027.
알저넌 뉴로사이언스가 유럽에서 Phase 2a DMT 뇌졸중 시험을 위한 계약 연구 기관(CRO)으로 Validcare를 임명했습니다. 40명의 뇌졸중 환자를 대상으로 하는 이 연구는 2025년 3분기에 등록을 시작할 예정입니다. 계약의 일환으로 Validcare는 AGN Neuro에 17만 달러를 주식 형태로 투자하며, 연구 진행에 따라 투자가 단계적으로 이루어질 것입니다.
이 시험은 무작위 배정, 이중 맹검 및 위약 대조 방식으로 진행됩니다. Validcare의 CEO는 DMT가 허혈성 뇌졸중 손상을 줄이고 운동 기능을 회복하는 데 효과적이라는 유망한 전임상 데이터를 강조했습니다. 특히 약 85%의 허혈성 뇌졸중 환자가 현재 중재 치료를 받을 수 없거나 적격하지 않아, 부상 후 신경 가소성과 뇌 회복을 촉진하는 DMT의 잠재적 중요성이 강조됩니다.
또한 AGN Pharma는 1.03달러에서 8.75달러 사이의 행사 가격을 가진 684,000개의 이전에 부여된 주식 옵션을 취소했습니다. 만료일은 2025년 2월부터 2027년 8월까지입니다.
Algernon NeuroScience a désigné Validcare comme Organisation de Recherche Contractuelle (CRO) pour son prochain essai DMT de Phase 2a sur les AVC en Europe. L'étude, qui impliquera 40 patients victimes d'AVC, devrait commencer son recrutement au troisième trimestre 2025. Dans le cadre de l'accord, Validcare investira 170 000 USD dans AGN Neuro par le biais d'actions, avec des investissements répartis tout au long du progrès de l'étude.
L'essai sera randomisé, en double aveugle et contrôlé par placebo. Le PDG de Validcare a souligné des données précliniques prometteuses montrant l'efficacité du DMT dans la réduction des dommages causés par un AVC ischémique et la restauration de la fonction motrice. Il est à noter qu'environ 85 % des patients victimes d'AVC ischémiques ne peuvent actuellement pas ou ne sont pas éligibles au traitement interventionnel, soulignant l'importance potentielle du DMT dans la promotion de la neuroplasticité et de la récupération cérébrale après une blessure.
De plus, AGN Pharma a annulé 684 000 options d'achat d'actions précédemment accordées avec des prix d'exercice compris entre 1,03 USD et 8,75 USD et des dates d'expiration allant de février 2025 à août 2027.
Algernon NeuroScience hat Validcare als Auftragsforschungsorganisation (CRO) für die bevorstehende Phase 2a DMT Schlaganfallstudie in Europa ernannt. Die Studie, an der 40 Schlaganfallpatienten teilnehmen werden, beginnt mit der Einschreibung im 3. Quartal 2025. Im Rahmen der Vereinbarung wird Validcare 170.000 USD in AGN Neuro über Eigenkapitalbeteiligungen investieren, wobei die Investitionen im Verlauf der Studie gestaffelt werden.
Die Studie wird randomisiert, doppelblind und placebokontrolliert sein. Der CEO von Validcare hob vielversprechende präklinische Daten hervor, die die Wirksamkeit von DMT bei der Verringerung von ischämischen Schlaganfallschäden und der Wiederherstellung der motorischen Funktion zeigen. Es ist bemerkenswert, dass etwa 85 % der Patienten, die an einem ischämischen Schlaganfall leiden, derzeit nicht in der Lage oder nicht berechtigt sind, zu intervenieren, was die potenzielle Bedeutung von DMT zur Förderung der Neuroplastizität und der Gehirnregeneration nach Verletzungen unterstreicht.
Darüber hinaus hat AGN Pharma 684.000 zuvor gewährte Aktienoptionen mit Ausübungspreisen zwischen 1,03 USD und 8,75 USD sowie Fälligkeiten von Februar 2025 bis August 2027 storniert.
- Partnership with established CRO Validcare secured for Phase 2a trial
- Additional US $170,000 funding through Validcare's equity investment
- Pre-clinical data shows promising results in stroke damage reduction and motor function restoration
- Cancellation of 684,000 stock options indicates potential internal restructuring
- Trial enrollment not starting until Q3 2025, indicating extended timeline for results
VANCOUVER, British Columbia, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Algernon Pharmaceuticals Inc. (the “Company” or “AGN Pharma”) (CSE: AGN) (FRANKFURT: AGW0) (OTCQB: AGNPF), a Canadian clinical stage pharmaceutical development company, is pleased to announce that its wholly owned subsidiary, Algernon NeuroScience (AGN Neuro), has appointed Validcare as the contract research organization (“CRO”) for the Company’s upcoming randomized, double-blind, placebo-controlled Phase 2a DMT study of 40 stroke patients in Europe. The study is expected to begin enrolling patients in Q3 of 2025. Validcare is a leading U.S. based full service CRO with experience across a wide range of therapeutic indications.
AGN Neuro is also pleased to announce that as part of being appointed the CRO, Validcare has agreed to invest US
Validcare CEO Patrick McCarthy said, “We are very excited to be working with Algernon Neuro on their upcoming, ground-breaking Phase 2a DMT stroke study and we are very pleased to become an investor, as it aligns incentives for us to finish our work on-time, on-budget and with high data integrity. The pre-clinical data shows that DMT is very effective in reducing the damaged area caused by an ischemic stroke as well as restoring almost full motor function and we look forward to observing whether animal data will translate in the upcoming human study.”
“We are very pleased to have appointed Validcare for this very important study, welcome their investment support, and look forward to finalizing our study plans,” said Christopher J. Moreau, CEO of Algernon. “About
AGN Pharma also announces that it has cancelled an aggregate of 684,000 stock options previously granted to officers, directors and consultants. These stock options have fully vested and had exercise prices ranging between
About Validcare
Validcare is a high-performance Contract Research Organization (CRO) uniquely skilled at de-risking the execution of clinical studies for pharma, biotech and medical device companies, spanning all therapeutic areas. Its revolutionary approaches give sponsors unmatched visibility and control to complete studies on time, on budget, and with high data integrity. Founded by experts with more than 30 years of executive-level industry experience, Validcare is a trusted advisor and strategic business counsel to its sponsor clients, helping to bring life-changing products to market.
For more information, visit: https://validcare.com/
About Algernon Pharmaceuticals Inc.
Algernon Pharmaceuticals is a Canadian clinical stage pharmaceutical development company investigating multiple drugs for unmet global medical needs. Algernon Pharmaceuticals is also the parent company of a private subsidiary called Algernon NeuroScience, that is advancing a psychedelic program investigating a proprietary form of sub-psychedelic 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.
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FAQ
When will Algernon's (AGNPF) Phase 2a DMT stroke trial begin enrollment?
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