Algernon Health Inc. (AGNPF)
OTCQB OTCQB Primary Summary
Algernon Health announces private placement to support Alzheimer's program
Algernon Health (CSE:AGN, OTCQB:AGNPF) announced that it plans to raise up to $500,000 through a non-brokered private placement of units priced at $0.07 each. The proceeds from the financing will be used to advance the company's Alzheimer's disease research program, including preparations to open its first US brain-specific neuroimaging clinic.
Algernon Health bets on the brain: Inside its move into Alzheimer's diagnostics
Christopher Moreau isn't shy about his ambitions. The CEO of Algernon Health (CSE:AGN, OTCQB:AGNPF) wants to build a network of neuroimaging centers across North America, clinics that could help detect Alzheimer's disease earlier, faster, safer, and more comfortably than ever before.
Algernon Pharmaceuticals closes private placement to fund Alzheimer's clinic initiative
Algernon Pharmaceuticals Inc. (CSE:AGN, OTCQB:AGNPF), a Canadian clinical-stage drug development company, said it has closed the second tranche of a non-brokered private placement, raising total gross proceeds of C$761,000 from the sale of subscription receipts. The financing, first announced on May 27 and updated on June 30, includes C$90,000 from company insiders.
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Algernon Health Inc. Profile
| Biotechnology Industry | Healthcare Sector | Mr. Christopher J. Moreau CEO | OTCQB Exchange | CA01559R4008 ISIN |
| US Country | - Employees | - Last Dividend | 3 Mar 2023 Last Split | - IPO Date |
Overview
Algernon Pharmaceuticals Inc. is a clinical stage pharmaceutical development company primarily focused on the discovery and advancement of treatments for a range of medical conditions, including non-alcoholic steatohepatitis, chronic kidney disease, inflammatory bowel disease, idiopathic pulmonary fibrosis, chronic cough, pancreatic cancer, small cell lung cancer, and acute lung injury. Initially established as Breathtec Biomedical, Inc., the organization rebranded to Algernon Pharmaceuticals Inc. in July 2015. The firm operates within Canada and Australia, contributing innovative solutions to pressing health challenges. Incorporated in 2015, Algernon Pharmaceuticals maintains its headquarters in Vancouver, Canada, underlining its commitment to leveraging scientific research to develop groundbreaking pharmaceuticals.
Products and Services
Algernon Pharmaceuticals Inc.'s product pipeline demonstrates a strategic focus on addressing a wide array of serious health issues through various stages of clinical trials:
- Ifenprodil - Currently in a Phase 2b clinical trial, Ifenprodil is being investigated for its potential in treating idiopathic pulmonary fibrosis and chronic cough. This highlights the company's commitment to addressing respiratory conditions with significant unmet medical needs.
- Repirinast - At the Phase 1 clinical trial stage, Repirinast exemplifies Algernon Pharmaceuticals Inc.’s pursuit of innovative treatments for chronic kidney disease. This initiative signifies the company's dedication to tackling renal health challenges through pioneering pharmaceutical advancements.
- N,N-Dimethyltryptamine (DMT) - Also in Phase 1 clinical trials, this compound is under investigation for its use in treating strokes and traumatic brain injuries, showcasing Algernon Pharmaceuticals Inc.'s exploration into neuroprotective agents and its ambition to contribute to neuroscience.
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