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Grey Matters Health Inc., formerly Algernon Health Inc. and Algernon Pharmaceuticals Inc., reports healthcare developments tied to its shift toward Alzheimer’s disease diagnostics and dedicated brain PET imaging. News for AGNPF has centered on NovaScan Neuroimaging Clinics, U.S. brain PET scanning center plans, CareMiBrain™ scanner technology, beta-amyloid detection, and clinical uses across dementia and other neurologic conditions.
Company updates also cover capital-structure actions, including name changes and share consolidation, equipment financing, service partnerships, clinic leases, and shareholder or governance matters. The company has also described Algernon NeuroScience’s regulated botanical wellness program involving a proprietary form of DMT and its equity interest in Seyltx, which is advancing Ifenprodil for chronic cough.
Catalyst MedTech launched the Connect program on October 7, 2025 to expand access to advanced diagnostic imaging by combining its Equipment Solutions and Clinical Solutions businesses.
As part of the launch Catalyst announced a first Connect partnership with Algernon Pharmaceuticals (OTCQB: AGNPF) to advance Optimized Brain PET imaging in the U.S. and establish a dedicated network of neuroimaging clinics for earlier detection of Alzheimer’s. Catalyst will supply a tailored mix of equipment, service, and support, featuring the CareMiBrain system plus the NeuroQ quantitative workstation.
Algernon Pharmaceuticals (OTCQB: AGNPF) has secured a CAD $4 million non-dilutive financing agreement with Catalyst MedTech to acquire four FDA-cleared Oncovision CareMiBrain™ brain-specific PET scanners. The deal includes financing terms with a 20% deposit and 7% annual interest rate, plus an option to acquire six additional systems for future expansion.
The company plans to establish the first dedicated brain-specific PET neuroimaging clinics in the U.S., focusing on early-stage Alzheimer's detection. Each scan will cost approximately US$5,000 and is covered by private insurance, Medicare, and Medicaid. The CareMiBrain™ system offers advanced features including 25% reduced radiation exposure compared to traditional PET/CT scanners and enhanced patient comfort.
Algernon Pharmaceuticals (OTCQB: AGNPF) announced that shareholders approved the creation of a new preferred share class at its annual and special meeting, with over 93% votes in favor. The Series 1 Preferred Shares will include a 10% annual dividend payable in Common or Preferred Shares and are convertible into 10 Common Shares each.
Following the approval, the Company will issue 450,000 Preferred Shares and Preferred Warrants related to a May 2025 acquisition, and 1,268,334 Preferred Shares and 634,167 Preferred Warrants from a July 2025 private placement. Additionally, all five board nominees were elected with over 95% approval. The company also plans to rebrand as Algernon Health Inc. to reflect its expansion into Alzheimer's Disease diagnostics and neuroimaging clinics across North America.
Algernon Pharmaceuticals (OTCQB: AGNPF) has announced its rebranding to Algernon Health, marking a strategic shift towards the Alzheimer's Disease (AD) diagnostic market. The company plans to establish specialized neuroimaging clinics across North America, featuring FDA-cleared brain-specific PET scanning systems that offer lower radiation exposure compared to standard PET/CT machines.
The company's clinics will provide essential amyloid plaque detection services required for FDA-approved AD treatments like Kisunla and Leqembi. These diagnostic services are covered by Medicare, Medicaid, and private insurance in the U.S. The clinics will also offer PET scans for other neurological conditions, including dementia, epilepsy, neuro-oncology, and movement disorders.
Algernon maintains its subsidiary Algernon NeuroScience, focused on DMT research for stroke and brain injury, and holds a 20% stake in Seyltx, which is developing a chronic cough drug.
Algernon Pharmaceuticals (AGNPF) has completed the acquisition of NoBrainer Imaging Centers (NIC), expanding into the Alzheimer's Disease diagnostic and treatment market. The deal grants Algernon exclusive master franchise rights for AD screening centers across Canada and multiple U.S. markets, including Florida (excluding Miami), Los Angeles, and five other major U.S. cities.
The acquisition terms include issuing 5.5 million common shares and warrants, plus 450,000 preferred shares and warrants. NIC brings CAD$250,000 in working capital and a deposit on a Positrigo NeuroLF brain-specific PET scanner, expected for delivery to the first U.S. clinic in Q4 2025. The preferred shares offer a 10% annual dividend and are convertible to common shares at a 1:10 ratio, subject to shareholder approval.
Algernon Pharmaceuticals (OTCQB: AGNPF) has received a notice of allowance from the European Patent Office for its lead chronic kidney disease drug NP-251 (Repirinast). The patent covers the use of Repirinast, alone or combined with telmisartan, for treating renal fibrosis or kidney disease.
The base claims will be valid through 2038, with potential additional protection through adjustments or extensions. The company has already secured patent allowances in the U.S., Japan, and China, with a pending application in Canada.
Key highlights:
- Repirinast reduced fibrosis by 51% with statistical significance in a mouse model
- Showed additive benefits when combined with telmisartan
- Company granted 50,000 restricted share units and 50,000 stock options to consultants, exercisable at $0.09 for five years
Algernon NeuroScience, a subsidiary of Algernon Pharmaceuticals (OTCQB: AGNPF), has appointed Netcapital Securities for its planned Regulation A offering. The company has filed Form 1-A with the SEC, though the offering hasn't been qualified yet.
The proceeds will fund a Phase 2a DMT study involving 40 stroke patients, scheduled for Q3 2025 in Hungary. The study will be led by Dr. Sándor Nardai at the National Institute of Mental Health, Neurology and Neurosurgery in Budapest.
Additionally, the company granted 1,405,000 restricted share units (RSUs) and 1,000,000 stock options at $0.09, exercisable for five years, to executives and directors. Both RSUs and options vest immediately upon grant.
Algernon NeuroScience has appointed Dr. Sándor Nardai as Principal Investigator for its upcoming Phase 2a DMT stroke study in Europe. The study, involving 40 stroke patients, will be randomized, double-blind, and placebo-controlled, with enrollment expected to begin in Q3 2025.
Dr. Nardai, a leading stroke expert and Head of Neurointervention at Semmelweis University Center in Budapest, previously led a groundbreaking rat stroke study published in 2020. The study demonstrated that rats treated with sub-psychedelic DMT doses showed almost full motor function recovery and smaller infarct volumes compared to the control group, with statistically significant results.
The Phase 2a study's primary endpoint will focus on safety, with secondary endpoints including lesion volume, biomarkers, motor function, cognitive function, depression, and mortality.
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.