Algernon Pharmaceuticals Announces Name Change to Algernon Health

Rhea-AI Summary

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.

Positive

• Entry into the growing AD diagnostic market with FDA-cleared technology
• Services covered by Medicare, Medicaid, and private insurance ensuring revenue stream
• Strategic positioning in an underserved market with insufficient PET scanners for brain scanning
• Additional revenue potential from clinical trial imaging services for 162 AD drugs under development
• Diversified service offering including PET scans for other neurological conditions

Negative

• Significant shift from pharmaceutical development to diagnostic services indicates change in business model
• Will require substantial capital investment for clinic establishment and equipment
• Faces potential competition from established healthcare providers

VANCOUVER, British Columbia, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Algernon Pharmaceuticals Inc. (the “Company” or “Algernon”) (CSE: AGN) (FRANKFURT: AGW0) (OTCQB: AGNPF), a Canadian healthcare company announces that it is changing its name to Algernon Health.

The planned name change reflects the Company’s recent announcement that it will be focusing on the Alzheimer’s Disease (AD) diagnostic market with plans to establish specialized neuroimaging clinics across North America as its lead program. The clinics will feature the latest technology of U.S. FDA-cleared, optimized brain-specific Positron Emission Tomography (PET) scanning systems to detect amyloid plaques in patients, providing significantly lower radiation compared to standard PET/CT machines currently in operation globally. The PET scans are covered by Medicare, Medicaid, and private insurance in the U.S.

Amyloid plaques are aggregates of mis-folded proteins that form in the spaces between nerve cells and are known to play a central role in AD and are associated with neural degeneration. The amyloid plaques typically first develop in the areas of the brain concerned with memory and other cognitive functions. A positive amyloid confirmation through a PET scan or a spinal tap must be first established before a patient can be treated with either Kisunla or Leqembi, the two U.S. FDA-approved, AD monoclonal antibody treatment therapies that remove amyloid plaque from the brain. These new treatments were developed by Eli Lilly, and Eisai and Biogen, respectively, and are also covered by U.S. Medicare, Medicaid, and private insurance providers.

After the first AD drug treatment was approved, in a post-earnings call, GE HealthCare CEO Peter Arduini called it a “profound growth opportunity” for all providers offering PET scans and molecular imaging.

The introduction of dedicated neuroimaging clinics provides the Company with a clear pathway to revenue utilizing a technology already U.S. FDA-cleared and covered by U.S. Medicare and Medicaid and private insurance. The Algernon clinics will also offer additional brain PET scans for other forms of dementia, epilepsy, neuro-oncology, and movement disorders, to further expand the provision of healthcare to patients in need and expand clinic revenues.

This strategic entry by Algernon into dedicated neuroimaging clinics is significantly based on the fact that the vast majority of PET/CT scanners in the U.S. are prioritized as cancer diagnostic and theranostic tools, and are also dedicated to cardiac imaging. Consequently, there is an insufficient supply of scanners to serve the rapidly expanding AD diagnostics market.

The shortage of PET scanners for brain specific scanning also has an impact beyond immediate patient care. With 162 AD drugs under development, there is also a significant opportunity to provide brain specific PET scan imaging services to drug development companies and contract research organizations engaged in clinical trials, as another source of revenue for Algernon.

Algernon will update the market shortly on its upcoming expansion and growth plans including the location of it first U.S. flagship neuroimaging clinic.

Algernon continues to be the parent company of a private subsidiary called Algernon NeuroScience that has been advancing a psychedelic program investigating a proprietary form of DMT for stroke and traumatic brain injury. The Company also owns a 20% equity position in Seyltx, a private U.S. based drug development company advancing a chronic cough drug called Ifenprodil.

Algernon is currently reviewing its repurposed chronic kidney disease drug program which features the drug repirinast as its lead molecule.

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

About Algernon Health 

Algernon Health is a Canadian healthcare company focused on the provision of brain specific PET scanning services through a planned network of new clinics in North America for the detection of Alzheimer’s disease, as well as other forms of dementia, epilepsy, neuro-oncology, and movement disorders. Algernon is also the parent company of a private subsidiary called Algernon NeuroScience that has been advancing a psychedelic program investigating a proprietary form of DMT for stroke and traumatic brain injury. The Company also owns a 20% equity position in Seyltx, a private U.S. based drug development company advancing a chronic cough drug called Ifenprodil.

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

Why is Algernon Pharmaceuticals (AGNPF) changing its name to Algernon Health?

The name change reflects the company's strategic shift to focus on the Alzheimer's Disease diagnostic market through specialized neuroimaging clinics across North America.

What services will Algernon Health's neuroimaging clinics offer?

The clinics will offer FDA-cleared brain-specific PET scanning for amyloid plaque detection in Alzheimer's patients, plus additional brain PET scans for dementia, epilepsy, neuro-oncology, and movement disorders.

How will Algernon Health generate revenue from its neuroimaging clinics?

The PET scanning services are covered by Medicare, Medicaid, and private insurance in the U.S., with additional revenue potential from providing imaging services for clinical trials of 162 AD drugs under development.

What other business segments does Algernon Health maintain?

The company maintains Algernon NeuroScience (researching DMT for stroke and brain injury), holds a 20% stake in Seyltx (developing a chronic cough drug), and has a chronic kidney disease drug program.

What advantage does Algernon Health have in the AD diagnostic market?

There is currently an insufficient supply of PET scanners for brain-specific scanning, as most U.S. PET/CT scanners are prioritized for cancer and cardiac imaging, creating a market opportunity.