Algernon Pharmaceuticals announces the recruitment of 70% of its

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VANCOUVER, British Columbia, July 07, 2021 (GLOBE NEWSWIRE) – Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW) (OTCB: AGNPF) (the “Company” or “Algernon“), a clinical-stage pharmaceutical development company, announces that it has reached 70% of its recruitment target for its phase 2 clinical study of its reconverted drug NP-120 (Ifenprodil) for idiopathic pulmonary fibrosis (IPF) and chronic cough.

The objective of this phase 2 proof of concept trial in 20 human patients is to determine the efficacy of Ifenprodil in preserving lung function (including biomarkers of fibrosis), as well as the reduction in the frequency of associated chronic cough in patients with IPF. As each patient enters the study, they begin treatment immediately, for a period of 12 weeks. A total of six sites are participating in the study, four of which are located in Australia and two in New Zealand.

Ifenprodil has been shown to mediate anti-inflammatory responses and reduce pulmonary fibrosis in a mouse model of idiopathic pulmonary fibrosis (IPF), and significantly reduce the frequency of cough and the delayed onset of cough in a model. acute guinea pig cough.

“We are very pleased with the recruitment rate and grateful to the patients who participate in our Phase 2 clinical study in IPF and Chronic Cough,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals. “This important research program is one of many undertaken by Algernon as part of its unique approach to drug reorientation. With approximately C $ 3.2 million on hand and a refundable tax credit receivable of C $ 2 million expected from the Australian government’s research and development tax incentive program in September 2021, Algernon is well positioned. to continue to implement its corporate strategy.

About Algernon Pharmaceuticals Inc.

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

CONTACT INFORMATION

Christophe J. Moreau
CEO
Algernon Pharmaceutical Inc.
604.398.4175 ext 701
info@algernonpharmaceuticals.com
investors@algernonpharmaceuticals.com
www.algernonpharmaceuticals.com.

The CSE accepts no responsibility for the adequacy or accuracy of this release.

DISCLAIMER 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, marketing 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 press release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and that 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 comply with the conditions of the relevant stock exchange (s) and other risks detailed from time to time in documents filed by the Company. Company with securities regulations. The reader is cautioned that the 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 expected, due to many 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 forward-looking information. This information, although considered reasonable by management at the time of its preparation, 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 all included forward-looking statements as expressly required by applicable law.

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