BNN Bloomberg – In a sector ripe for revival, Algernon’s development pipeline positions it well.
In a sector ripe for revival, Algernon’s development pipeline positions it well.
Algernon is a Canadian clinical stage drug development company investigating multiple drugs with global unmet medical needs.
- The biotech sector slowed in early 2022 but is rebounding — and so is Algernon Pharmaceuticals Inc., a Canadian clinical stage drug development company
- Algernon is studying the use of DMT, a psychedelic, for treatment of stroke patients as well as drugs for chronic kidney disease and idiopathic pulmonary fibrosis and cough
- DMT has been proven to have neuroplastic effects in preclinical studies as well as in animal studies, and now the company is preparing for human trials starting Q4, 2022
Biotech is expensive – you identify a problem, a solution and a potential product. However, to get that product to market can take years and involve investment in the tens or even hundreds of millions of dollars.
Lab testing. Animal testing. Safety testing. Multiple levels of human trials. Each stage takes time and money.
But if you could bypass some of the early challenges — for example, addressing safety concerns associated with the use of a drug — you could eliminate a huge cost and the biggest period of risk for investors
Read the full story: https://www.bnnbloomberg.ca/in-a-sector-ripe-for-revival-algernon-s-development-pipeline-positions-it-well-1.1837631
