Algernon Pharmaceuticals Announces Issuance of Patent for Ifenprodil for the Treatment of Idiopathic Pulmonary Fibrosis
VANCOUVER, British Columbia, June 22, 2022 (GLOBE NEWSWIRE) -- Algernon Pharmaceuticals Inc. (the “Company” or “Algernon”) (CSE: AGN) (FRANKFURT: AGWO) (OTCQB: AGNPF), a Canadian clinical stage pharmaceutical development company, is pleased to announce that it has been issued a patent from the Canadian Intellectual Property Office (“CIPO”), No. 3101853, for the treatment of interstitial lung disease with NP-120 (“Ifenprodil”), entitled “Compositions and Methods for Treating Idiopathic Pulmonary Fibrosis.”
The invention claims treating interstitial lung disease, including idiopathic pulmonary fibrosis (“IPF”), with Ifenprodil. The base claims of the patent will be valid through 2038, excluding any patent term adjustments or extensions which may provide additional protection. The Company also has active patent applications for Ifenprodil for the same compositions and methods in the U.S., Europe, China and Japan.
Algernon’s intellectual property strategy for its repurposed drug program includes protecting its compounds by filing patent applications covering method of use for new disease indications, as well as dosing and formulation. In addition, the Company has filed new composition of matter patents for novel salt forms for some of its lead compounds.
“We are very pleased to be granted this patent by the CIPO,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals. “This is an important milestone for the Company as we continue to strengthen our global IP position.”
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.
The Company is conducting a proof-of-concept Phase 2 human trial to determine the safety and efficacy of Ifenprodil in patients with IPF and its associated cough and recently announced it had reached database lock.
Topline data from this study is expected in July 2022.
About Algernon Pharmaceuticals Inc.
Algernon is a drug re-purposing company that investigates safe, already approved drugs 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.
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.
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 regulators. 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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