Algernon Contacts Gates Foundation Regarding Funding for New Coronavirus Treatments

VANCOUVER, British Columbia, March 13, 2020 (GLOBE NEWSWIRE) — Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPF) (the “Company” or “Algernon”) a clinical stage pharmaceutical development company is pleased to announce that it has contacted the Bill & Melinda Gates Foundation in order to seek funding under the recently announced COVID-19 Therapeutic Accelerator program.

The Company has recently filed its pre-IND (Investigational New Drug) meeting request with the U.S. FDA. This initiates formal communications with the U.S. FDA regarding development of the Company’s repurposed drug NP-120 (Ifenprodil) for the treatment and prevention of acute lung injury (ALI) and acute respiratory distress syndrome associated with COVID-19 infection.

In a news release dated March 10^th, 2020 the Bill and Melinda Gates Foundation advised that The COVID-19 Therapeutics Accelerator will play a catalytic role by accelerating and evaluating new and repurposed drugs and biologics to treat patients with COVID-19 in the immediate term.

Algernon’s NP-1230 (Ifenprodil) is a re-purposed drug that the Company has been investigating for other respiratory diseases and may also be an effective treatment for the coronavirus (COVID-19).

“Since NP-120 Ifenprodil has a known safety history, it can move into a clinical trial on an immediate basis”, said Christopher J. Moreau CEO of Algernon. “This is one of the benefits of investigating an older drug that has a known safety history, for new diseases.”

About Algernon Pharmaceuticals Inc.

Algernon Pharmaceuticals is a clinical stage pharmaceutical development company focused on advancing its lead compounds for non–alcoholic steatohepatitis (NASH), chronic kidney disease (CKD) inflammatory bowel disease (IBD), idiopathic pulmonary fibrosis (IPF) and chronic cough.

Algernon has filed new intellectual property rights for NP-120 (Ifenprodil) for the treatment of respiratory diseases and is working to develop a proprietary injectable and slow release formulation.

CONTACT INFORMATION

Christopher J. Moreau
CEO
Algernon Pharmaceuticals Inc.
604.398.4175 ext 701
[email protected]
[email protected]
www.algernonpharmaceuticals.com

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