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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 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.
On February 25, 2021, Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) announced that CEO Christopher J. Moreau and Dr. David Nutt will discuss the Company's New DMT Stroke Clinical Research Program at the Psychedelic Capital Virtual Investment Conference. This presentation will take place at 4:45 PM EST and is open for free access to shareholders, investors, and the public. Interested parties can find further information and access a free ticket through the provided link. Algernon is focused on drug repurposing and investigating safe, approved drugs for new medical applications.
Algernon Pharmaceuticals Inc. (CSE: AGN) has awarded a contract to Dalton Pharma Services for the manufacturing of the active pharmaceutical ingredient and finished product of AP-188 (DMT). This collaboration aims to facilitate the synthesis of DMT as Algernon prepares to file for a pre-IND meeting with the U.S. FDA and advance its Phase 1 and 2 clinical studies. The company is focused on leveraging positive pre-clinical data indicating DMT's potential in stroke treatment, with ongoing investigations into its effects on neuroplasticity.
On February 17, 2021, Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) updated on its Phase 2b/3 study of Ifenprodil for COVID-19. A fire at a Romanian hospital site delayed the site audit, but the company has completed the source data audit for all patients. The database will be locked for analysis on March 5, and results will be shared soon after. Notably, many patients received imaging scans, aiding the exploration of Ifenprodil's potential in reducing post-COVID lung scarring, although the data will be reviewed separately to avoid further delays.
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF) announced plans to review its Phase 2b/3 study protocol for Ifenprodil in treating COVID-19, considering adding lung scarring as an endpoint based on new data from a significant patient population. Although lung scarring was not previously recognized as a major issue, recent studies indicate that 60% of post-COVID-19 patients exhibit lung damage. CEO Christopher J. Moreau emphasized that confirming Ifenprodil's effectiveness in this area could represent a significant advancement in patient care.
Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) announced a partnership with Charles River Laboratories to conduct preclinical studies on AP-188 (DMT) for its stroke research program. The study aims to explore DMT's neurogenic potential. The company intends to initiate human trials in 2021, focusing on sub-hallucinogenic doses to avoid adverse psychedelic effects in stroke patients. Previous studies indicated DMT's efficacy in reducing brain injury and promoting recovery. Algernon aims to be the first to investigate DMT for stroke treatment in humans.
Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) announced a discussion regarding its New DMT Stroke Clinical Research Program, featuring CEO Christopher J. Moreau and CSO Dr. Mark Williams, hosted on the BioPub webcast. Scheduled for February 3, 2021, at 12 PM EST, the event welcomes shareholders, investors, and the public to engage in the dialogue about Algernon's innovative approaches in drug repurposing aimed at addressing significant medical needs.
Algernon Pharmaceuticals has launched a clinical research program aimed at treating stroke with AP-188 (DMT), a psychedelic compound. Positioned to be the first globally to trial DMT for stroke in humans, Algernon plans to initiate clinical trials in 2021. The company has filed provisional patents for novel DMT formulations and methods of treatment. This initiative follows promising preclinical studies indicating DMT's potential to enhance neurogenesis and facilitate motor recovery in stroke patients. Algernon aims for a Breakthrough Therapy designation from the U.S. FDA to accelerate the drug's approval process.