Algernon Pharmac - AGNPF STOCK NEWS

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced the appointment of Harry Bloomfield, QC, as a new Board member and Chairman. Bloomfield brings significant experience as a lawyer and business manager, with a history in senior business roles and board memberships across various entities. His expertise is expected to enhance Algernon's drug repurposing initiatives. CEO Christopher Moreau expressed confidence in Bloomfield's ability to contribute positively to the company's strategic goals.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced successful results from its preclinical study on AP-188 (DMT), showing a 40% increase in cortical neuron growth with statistical significance using a sub-hallucinogenic dose. Conducted by Charles River Laboratories, the study aims to explore DMT's neuroplastic effects for stroke treatment with minimal side effects. The next phase involves analyzing treatment duration from 1 to 72 hours, with results expected by October 2021. Algernon aims to lead human trials for DMT targeting ischemic stroke.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced the initiation of an NP-120 (Ifenprodil) research program for small cell lung cancer (SCLC) and appointed Dr. William North as lead consultant. Ifenprodil, shown to inhibit tumor growth in previous studies, was tested in combination with chemotherapy and demonstrated significant additive effects. The company signed a licensing agreement with Dartmouth College for a method of use patent related to neuroendocrine cancers and plans to submit a pre-IND meeting request to the FDA for SCLC clinical program guidance.

Algernon Pharmaceuticals has signed an exclusive licensing agreement with Dartmouth College for a method of use patent targeting neuroendocrine cancers that express functional NMDA receptors. The licensing deal includes a fee structure and ongoing royalties on sales. Algernon aims to leverage Ifenprodil, which has shown significant anti-tumor effects in pancreatic cancer models, to progress into clinical trials. The company plans to submit a pre-IND meeting request to the FDA for guidance on its clinical program design, emphasizing its commitment to advancing cancer treatment.

Algernon Pharmaceuticals Inc. (OTCB: AGNPF) has achieved 70% enrollment in its Phase 2 clinical trial of NP-120 (Ifenprodil) for idiopathic pulmonary fibrosis (IPF) and chronic cough. The trial, involving 20 patients, aims to assess Ifenprodil's effectiveness in preserving lung function and reducing chronic cough frequency over 12 weeks. With approximately CAD$3.2M in cash and a CAD$2M refundable tax credit expected, Algernon is positioned for continued development in its drug repurposing strategy.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced it will not advance Ifenprodil into a Phase 3 clinical study for COVID-19. This decision follows findings from a Phase 2b trial, the impact of widespread vaccinations, and insights from the FDA. Despite this setback, Algernon remains committed to other programs, including ongoing trials for Ifenprodil targeting idiopathic pulmonary fibrosis and chronic cough, alongside upcoming studies for DMT in stroke and pancreatic cancer. The company emphasizes its support for research during the pandemic and continues its drug re-purposing efforts.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) has received all necessary permits for its cGMP supply of AP-188 (DMT), aiming to start a Phase 1 human study in Q4 2021 at Hammersmith Medicines Research UK. The trial will assess the safety and pharmacokinetics of intravenous DMT in healthy volunteers. Additionally, the company has initiated a preclinical study with Charles River Laboratories to explore DMT's effects related to stroke treatment. Algernon has also filed provisional patents for new DMT formulations targeting ischemic stroke.

Algernon Pharmaceuticals has launched a clinical research program for pancreatic cancer (PC) using NP-120 (Ifenprodil), which showed a 50% reduction in tumor size in a murine model. The five-year survival rate for PC is a stark 7.9%, prompting the company to investigate Ifenprodil’s potential further, given its historical safety record. The company plans to submit a pre-IND meeting request to the U.S. FDA and seeks orphan designation and Fast Track status for Ifenprodil. The global pancreatic cancer treatment market is projected to reach USD 4.2 billion by 2025.

Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced an independent study from the University of Szeged showing that N,N-dimethyltryptamine (DMT) significantly reduces cell death in a rat stroke model. Published in Neuropharmacology, the study highlighted DMT's potential to decrease damaging biological processes following a stroke. Algernon aims to initiate a human clinical trial for DMT as a stroke treatment in Q4 2021 and has filed provisional patents for its use. CEO Christopher J. Moreau emphasizes DMT's potential in stroke therapy.