Curated News
By: NewsRamp Editorial Staff
March 28, 2024
Algernon Pharmaceuticals Strikes Deal to Advance Ifenprodil in Chronic Cough Treatment
TLDR
- Algernon Pharmaceuticals secures transformative agreement with U.S. firm, positioning Ifenprodil for new market development.
- Ifenprodil, originally developed in Japan for vertigo post-stroke, is being repurposed for Idiopathic Pulmonary Fibrosis (IPF) and chronic cough.
- The agreement enables Algernon to focus on advancing innovative pharmaceutical treatments, potentially improving quality of life for those with chronic conditions.
- Ifenprodil's discovery in Japan and potential repurposing for new markets demonstrates the ongoing innovation in pharmaceutical research and development.
Impact - Why it Matters
The agreement represents a pivotal moment for Algernon Pharmaceuticals, positioning Ifenprodil for further development in a market with significant potential. It also allows Algernon to concentrate on advancing its broader drug development pipeline, ensuring the company remains at the forefront of innovation in the pharmaceutical industry.
Summary
Algernon Pharmaceuticals CEO Christopher Moreau announced a transformative agreement with U.S. Based Seyltx for the drug, Ifenprodil, targeting chronic cough. The agreement gives Algernon a 20% interest in the acquiring company and a $2 million U.S. cash infusion.
Ifenprodil, originally developed to treat intermittent claudication, was identified for repurposing by Algernon's co-founder, Dr. Mark Williams, for Idiopathic Pulmonary Fibrosis (IPF) and chronic cough. This agreement strengthens Algernon's financial position and enables focus on other projects, including a promising DMT study for stroke treatment.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Algernon Pharmaceuticals Strikes Deal to Advance Ifenprodil in Chronic Cough Treatment
