Algernon Pharmaceuticals Advances Research Program

LOS ANGELES – In a significant move that underscores its commitment to innovative medical research, Algernon Pharmaceuticals Inc. announced its decision to prioritize its AP-188 (“N,N-Dimethyltryptamine” or “DMT”) stroke research program. This announcement follows the successful sale of its Ifenprodil research program, marking a strategic shift towards exploring groundbreaking therapies in the treatment of stroke.

Algernon has cemented its position as a forward-thinking entity in clinical stage pharmaceutical development. On March 27, 2024, the Company divested its Ifenprodil research program to Seyltx, a U.S.-based private drug development firm, for a cash consideration of USD $2M and a 20% equity stake. Seyltx’s ambitious plan involves launching a multi-center Phase 2b placebo-controlled study on chronic cough in CY2024, utilizing Ifenprodil.

In pursuit of innovation, Algernon established Algernon NeuroScience (AGN Neuro) in 2023 as a fully owned subsidiary dedicated to advancing DMT’s potential in stroke treatment and neuroplasticity research. AGN Neuro distinguishes itself as the pioneer in investigating DMT for stroke treatment, aiming to harness the compound’s ability to foster neuroplasticity and aid in the recovery from brain injuries. The company has completed a feasibility study and designed a clinical trial to examine the effects of a sub-psychedelic dose of DMT administered intravenously to patients hospitalized for acute ischemic stroke.

Christopher J. Moreau, CEO of Algernon, expressed enthusiasm about the novel approach to treating ischemic stroke, highlighting the significance of exploring neuroplasticity in clinical settings. Algernon’s leadership in this research domain is poised to contribute significantly to the advancement of stroke treatment methodologies.

The Phase 2a DMT Stroke study is meticulously designed to include 40 patients diagnosed with ischemic stroke, who will be randomly assigned to receive either DMT or a placebo. The study prioritizes safety as its primary outcome, with secondary measures focusing on efficacy, including the preservation of brain tissue, motor recovery, and the evaluation of various biomarkers related to stroke’s pathophysiology.

This strategic pivot follows encouraging results from a Phase 1 trial conducted at the Centre for Human Drug Research (CHDR) in Leiden, Netherlands. The trial demonstrated that plasma levels of DMT, which are associated with neuroplasticity in animal models, could be achieved in humans through a prolonged, 6-hour infusion at doses not inducing psychedelic experiences.

Algernon Pharmaceuticals Inc. continues to demonstrate its commitment to addressing unmet medical needs through the development of innovative drugs. With a broad research agenda that now includes a focus on DMT for the treatment of stroke and traumatic brain injury, as well as ongoing studies in chronic kidney disease, Algernon is at the forefront of exploring therapeutic potentials in areas of critical global health importance.