Algernon Pharmaceuticals Announces Notice of Acceptance of Patent Application for Ifenprodil for Idiopathic Pulmonary Fibrosis

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VANCOUVER, British Columbia, Jan. 28, 2022 (GLOBE NEWSWIRE) — Algernon Pharmaceuticals Inc. (the “Company” or “Algernon”) (CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPD) a pharmaceutical development company in Clinical Phase is pleased to announce that it has received Notice of Allowance from the Canadian Patent Office for Patent Application No. 3101853 entitled: Compositions and Methods for the Treatment of Idiopathic Pulmonary Fibrosis. The Company has also filed corresponding patent applications in the United States, Europe, China and Japan.

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The invention claims the treatment of interstitial lung disease, including idiopathic pulmonary fibrosis, with Ifenprodil.

Algernon’s intellectual property strategy for its repurposed drug program includes protecting its compounds by filing patent applications, including those for new salt forms, their method of use, dosage and formulation.

“This is the first clearance notice received by the company for one of its drugs under investigation under its Innovative Drug Repurposing Program and it is another significant step forward,” said Christopher J. Moreau, CEO of Algernon.

About Ifenprodil

Ifenprodil is an N-methyl-D-aspartate (NMDA) receptor antagonist specifically targeting the NMDA-like 2B subunit (GluN2B). Ifenprodil prevents glutamate signaling. The NMDA receptor is found on many tissues, including lung cells, T cells, neutrophils, and some types of cancer cells.

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The Company is currently conducting an open-label proof-of-concept Phase 2 human trial in 20 patients to determine the efficacy of Ifenprodil in preserving lung function in patients with IPF (including fibrosis biomarkers ) and associated cough.

Ifenprodil has been shown to induce anti-inflammatory responses and reduce pulmonary fibrosis in a mouse model of IPF. In addition, ifenprodil significantly reduced cough frequency and delayed cough onset in an acute cough model in guinea pigs.

About Algernon Pharmaceuticals

Algernon is a drug repurposing company that studies safe and already approved drugs, including natural compounds, for new disease applications, moving them safely and effectively into new human trials, developing new formulations and seeking new regulatory approvals in global markets. Algernon specifically studies compounds that have never been approved in the United States or Europe to avoid writing off-label prescriptions.

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CONTACT INFORMATION

Christophe J. Moreau
CEO
Algernon Pharmaceuticals Inc.
604.398.4175 ext. 701

[email protected]
[email protected]
www.algernonpharmaceuticals.com.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER: No stock exchange has reviewed or accepts responsibility for the adequacy or accuracy of the contents of this press release. This press release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements, other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include failure to meet the conditions of the relevant stock exchange(s) and other risks detailed from time to time in documents filed by the Company with securities regulations. Readers are cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. Readers are cautioned not to place undue reliance on forward-looking information. Such information, although considered reasonable by management when prepared, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will publicly update or revise any of the forward-looking statements included as expressly required by applicable law.