Algernon’s drug repurposing model provides a cost-effective and capital efficient method for the discovery of new therapeutic uses for drugs that are off patent and have a well-known safety history, but have never been marketed in the U.S. or Europe. Repurposing existing, safe, small molecules to treat different disease applications requires lower capital investment, has a reduced risk of failure due to toxicity or safety issues, and usually features shorter development periods because the compounds can be moved into clinical trials more quickly than new chemical entities.
About Our Business ModelThrough our own research programs, and those of our new subsidiary Algernon NeuroScience, our product pipeline is currently comprised of one leading drug repurposing candidate, and a naturally occurring compound, that target a variety of medical needs. The Ifenprodil research program we had previously been advancing, was acquired by a U.S. drug development company in March 2024.
Algernon is pleased to announce that on March 27, 2024, it closed on its agreement with Seyltx Inc., a privately owned U.S. based drug development company, for the acquisition of Algernon’s NP-120 Ifenprodil research program to treat chronic cough and idiopathic pulmonary fibrosis, for the purchase price of USD $2M cash and a 20% common share equity position in Seyltx. For more information on the acquisition agreement Click Here
Repirinast was originally an asthma drug developed by Mitsubishi Tanabe Pharma for the Japanese market. In a pre-clinical animal model of kidney fibrosis, Repirinast reduced fibrosis by 50% with statistical significance and we are working to repurpose it for chronic kidney disease through planned human trials.
N,N-Dimethyltryptamine (DMT) is being advanced by Algernon NeuroScience, a new, wholly owned private equity subsidiary of Algernon Pharmaceuticals. DMT is a known psychedelic compound that occurs naturally in many plant species and also in many animals, including humans. DMT has been shown to induce neuroplasticity in several key preclinical studies, and we are the first in the world to investigate the drug as a potential new treatment for stroke patients and people suffering traumatic brain injury (TBI).
At Algernon, we conduct clinical trials as part of advancing our various drug repurposing and development programs. Please click here for study details about our current Phase 1 trial investigating DMT.
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