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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.
Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) appointed Dr. Steven L. Wolf as a consultant for its clinical research program on AP-188 (DMT) for stroke treatment. Dr. Wolf is a renowned expert in Physical Therapy and Rehabilitation Medicine, with over 300 publications and significant contributions to improving stroke recovery methods. His expertise will guide the design of the Phase 2 clinical study assessing DMT's potential to aid neural recovery post-stroke, following promising results from animal studies. This collaboration may enhance Algernon's research capabilities.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced topline data from its Phase 2b/3 COVID-19 trial of NP-120 (Ifenprodil). Key findings revealed 0% mortality in the 20 mg Ifenprodil group at Day 15 versus 3.3% in the control group. Patients with low blood oxygen showed a return to normal levels more quickly in the treatment group. However, the WHO score showed no significant changes across study arms. The company plans to discuss results with the U.S. FDA and publish detailed data in a peer-reviewed journal.
Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) announced its inclusion in the Horizons Psychedelic Stock Index ETF in the first quarterly rebalance. This ETF offers investors exposure to North American companies engaged in psychedelic-related activities. CEO Christopher J. Moreau highlighted that this recognition reflects Algernon's significant progress in its DMT stroke research program. The company is investigating the use of DMT as a treatment for stroke and has filed provisional patents related to its formulations and methods.
Algernon Pharmaceuticals has filed a pre-IND meeting request with the U.S. FDA for its investigational drug AP-188 (DMT) targeting stroke-related dysfunction. This marks the start of formal communications regarding its stroke clinical research program. The application seeks FDA guidance on using DMT alongside constraint-induced movement therapy (CIMT) to enhance recovery in stroke patients. Positive preclinical studies indicate DMT promotes neurogenesis and motor recovery. Algernon also awarded contracts for DMT manufacturing and preclinical studies, with a focus on advancing stroke treatment.
Algernon Pharmaceuticals expects to report topline results from the Phase 2b part of its Phase 2b/3 COVID-19 trial of Ifenprodil in the last week of March 2021. This multinational study aims to evaluate Ifenprodil's safety and efficacy in hospitalized COVID-19 patients. The independent statisticians will review the data before public release. CEO Christopher J. Moreau emphasizes an urgent need for effective COVID-19 therapies. The trial's positive outcomes could lead to a Phase 3 trial with a larger patient cohort, aiding in the fight against severe COVID-19.
Algernon Pharmaceuticals has successfully completed its non-brokered private placement, issuing 11,260,040 units at CDN $0.25, raising gross proceeds of CDN $2,815,010. Each unit consists of one Class A common share and a warrant. The warrants allow for the purchase of additional shares at CDN $0.40 until March 5, 2023, with terms for accelerated expiry. The company paid CDN $161,400 in commissions and issued 645,600 finder’s warrants. Proceeds will be utilized for general corporate purposes.
Algernon Pharmaceuticals has announced a discussion on their DMT Stroke Clinical Research Program featuring CEO Christopher J. Moreau and DMT Consultant Dr. David Nutt. The BioPub webcast is scheduled for March 3, 2021, at 1:00 PM EST, inviting stakeholders to engage in the conversation about the company's innovative approach to drug repurposing. Algernon focuses on exploring safe, approved drugs for new therapeutic applications, aiming to expedite new human trials and regulatory approvals.
Algernon Pharmaceuticals has announced a non-brokered private placement of 10,800,000 units, raising CAD $2,700,000. Each unit includes a common share priced at $0.25 and a share purchase warrant exercisable at $0.40 for 24 months. The warrants may expire early if the shares trade at or above CAD $0.80 for ten consecutive days. The proceeds will be allocated for general corporate purposes. Algernon focuses on drug repurposing for new disease applications, developing formulations, and seeking regulatory approvals.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) has awarded Hammersmith Medicines Research Ltd a contract for its Phase 1 stroke study of AP-188 (DMT). This study aims to assess the safety, tolerability, and pharmacokinetics of DMT dosages in healthy participants. Algernon plans to be the first globally to explore prolonged intravenous DMT infusion for stroke treatment. The study is set to inform future Phase 2 trials in stroke patients and is expected to start following the acquisition of cGMP drug product from Dalton Pharma.
Algernon Pharmaceuticals has appointed Dr. Christopher Bryan as Vice President of Research & Operations and Dr. Ahmad Khalil as Chief Medical Officer. Dr. Bryan, a PhD graduate from the University of Toronto, brings extensive experience in drug synthesis and clinical trial management. Dr. Khalil has over 20 years in biopharma, overseeing multiple clinical trials. The company announced that Dr. Mark Williams will step down as Chief Science Officer to lead a new venture. Algernon focuses on repurposing approved drugs for new applications.