Algernon Pharmaceuticals Announces Exclusive Licensing Agreement with Dartmouth College
August 09 2021 - 7:00AM
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 signed an
exclusive licensing agreement with Dartmouth College (“Dartmouth”)
to acquire the rights to a method of use patent for treating
neuroendocrine cancers which express functional
N-methyl-D-aspartate (“NMDA”) receptors.
Neuroendocrine cells integrate the nervous and
endocrine systems by receiving neuronal input from nerve cells and
releasing hormones into the blood. Most neuroendocrine tumors occur
in the lungs, appendix, small intestine, rectum, and pancreas.
Algernon recently announced that it had initiated a pancreatic
cancer (“PC”) research program for NP-120 (“Ifenprodil”).
Neuroendocrine cancer cells have been shown to express the GluN2B
NMDA subunit, which Ifenprodil targets.
Ifenprodil demonstrated a significant
anti-tumour effect in a PC animal model which was reported in a
paper published in the Dove Press Journal, Clinical Pharmacology:
Advances and Applications. The research paper, authored by Dr.
William North of Dartmouth College, concluded that Ifenprodil
significantly and rapidly reduced the average solid tumour size by
approximately 50% within three days, and this reduction was
maintained for the duration of treatment in a murine model of PC.
The average tumour size in the untreated group doubled during the
same period.
The agreement with Dartmouth includes a license
initiation fee, maintenance, and milestone fees, as well as an
ongoing royalty on sales.
The Company is planning to submit a pre-IND
(Investigational New Drug) meeting request with the U.S. Food and
Drug Administration to present all elements of the Company’s PC
clinical program design to receive the agency’s guidance and
advice.
“We are very pleased with the outcome of our
discussions with Dartmouth regarding the research work that was
pioneered by Professor North,” said Christopher J. Moreau, CEO of
Algernon Pharmaceuticals. “Dartmouth is a world-class center of
education and its close affiliation with Dartmouth-Hitchcock
Medical Health Center will be an asset as we move our
Ifenprodil-based cancer program forward into clinical trials.”
About Dartmouth College
One of the world's greatest academic
institutions and a member of the Ivy
League, Dartmouth has been educating
leaders since 1769. Our undergraduate and graduate programs are
distinguished by academic excellence, personal attention from top
faculty, opportunities to participate in research, and a close-knit
community.
About Ifenprodil
Ifenprodil is an N-methyl-D-aspartate
(NMDA) receptor antagonist specifically targeting the NMDA-type
subunit 2B (GluN2B). Ifenprodil prevents glutamate signalling. The
NMDA receptor is found on many tissues including lung cells,
T-cells, and neutrophils and certain types of cancer cells.
About Algernon Pharmaceuticals
Inc.
Algernon is a drug re-purposing company that
investigates safe, already approved drugs, and naturally occurring
compounds, for new disease applications, moving them efficiently
and safely into new human trials, developing new formulations and
seeking new regulatory approvals in global markets. Algernon
specifically investigates compounds that have never been approved
in the U.S. or Europe to avoid off label prescription writing.
CONTACT INFORMATION
Christopher J. MoreauCEOAlgernon Pharmaceuticals
Inc.604.398.4175 ext 701
info@algernonpharmaceuticals.cominvestors@algernonpharmaceuticals.comwww.algernonpharmaceuticals.com.
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of the Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
CAUTIONARY DISCLAIMER STATEMENT: No Securities
Exchange has reviewed nor accepts responsibility for the adequacy
or accuracy of the content of this news release. This news 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 terms such as
“will”, “may”, “should”, “anticipate”, “expects” 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 the
failure to satisfy the conditions of the relevant securities
exchange(s) and other risks detailed from time to time in the
filings made by the Company with securities regulations. The reader
is cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from
those predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the
control of the Company. The reader is cautioned not to place undue
reliance on any forward-looking information. Such information,
although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may
differ materially from those anticipated. Forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement. The forward-looking statements
contained in this news release are made as of the date of this news
release and the Company will update or revise publicly any of the
included forward-looking statements as expressly required by
applicable law.
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