Algernon Pharmaceuticals to Move Forward with Psychedelic Drug DMT Stroke Research Program as its Lead Asset
VANCOUVER, British Columbia, April 01, 2024 (GLOBE NEWSWIRE) — Algernon Pharmaceuticals Inc. (the “Company” or “Algernon”) (CSE: AGN) (FRANKFURT: AGW0) (OTCQB:AGNPF), a Canadian clinical stage pharmaceutical development company, is pleased to announce that it plans to move forward with its intravenous formulation of its AP-188 (“N,N-Dimethyltryptamine” or “DMT”) stroke research program as its lead asset, after having sold its Ifenprodil research program for USD $2M cash and a 20% common share equity position in Seyltx, a U.S based private drug development company, on March 27, 2024. Seyltx plans to initiate an Ifenprodil multi-center Phase 2b placebo-controlled chronic cough study in CY2024.