Algernon Pharmaceuticals Inc. Advances in Global Patent Portfolio with New Approvals in China

LOS ANGELES- Algernon Pharmaceuticals Inc., a Canadian clinical stage pharmaceutical development company, has recently announced a significant milestone in its global patent strategy. The Chinese Patent Office has issued a notice of intention to grant for patent application No. 201980043698.6. This patent is for NP-251 (Repirinast), the company’s innovative antifibrotic drug candidate.

The granted patent encompasses the administration of Repirinast, either as a standalone treatment or in conjunction with telmisartan, for the prophylaxis or treatment of renal fibrosis or kidney disease. Crucially, the base claims of this patent are set to remain valid through 2038. This duration does not account for any potential patent term adjustments or extensions, which could provide Algernon Pharmaceuticals with extended protection.

This latest development aligns with the company’s strategy of securing intellectual property rights for Repirinast in major markets worldwide. Algernon Pharmaceuticals has already received patents for Repirinast in the context of chronic kidney disease (CKD) from Japan and has filed corresponding patent applications in other key jurisdictions, including Canada, Europe, and the United States.

Repirinast stands as Algernon’s leading candidate for CKD treatment. This positioning is backed by compelling data demonstrating its efficacy; in particular, Repirinast has shown a 51% reduction in fibrosis with statistical significance. Moreover, the drug has exhibited an additive benefit when used in combination with telmisartan in a unilateral ureteral obstruction (UUO) mouse model.

The company’s intellectual property strategy for its repurposed drug program is comprehensive. It includes filings for patent applications that cover various aspects such as method of use, dosing, formulations, and new composition of matter patents based on novel salt forms.

Christopher J. Moreau, CEO of Algernon Pharmaceuticals, expressed his satisfaction with the recent patent approval: “We are once again pleased to receive another notice of intent to grant a patent from the Chinese Patent Office. This will be the second patent granted to the Company in China, and it complements multiple other patents issued in other major world markets as part of our comprehensive global intellectual property strategy.”

In addition to the patent news, Algernon Pharmaceuticals has announced the grant of 1,625,000 restricted share units (RSUs) under its RSU Plan to executives and directors of the Company. Each RSU entitles the recipient to either one common share of the Company or a cash payment equivalent upon vesting, which occurs on the date of grant.

Furthermore, the Company has granted 100,000 stock options, exercisable at $0.075 for two years from the date of grant, to a consultant. These stock options vest on the date of grant and, like the RSUs, are subject to regulatory authority approval.

Algernon Pharmaceuticals stands out in the pharmaceutical industry for its robust research programs. These programs focus on addressing unmet global medical needs in areas such as chronic cough, chronic kidney disease, and NASH. Additionally, Algernon NeuroScience, a private subsidiary of the company, is making strides in the psychedelic field, investigating a proprietary form of psychedelic DMT for conditions like stroke and traumatic brain injury.

The recent advancements in Algernon’s patent portfolio and its diverse research initiatives demonstrate the company’s commitment to innovation and its strategic approach to securing its position in the global pharmaceutical market.