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Algernon Pharmaceuticals files for coronavirus trial of ifenprodil with South Korean regulators

The company plans to go forward with a 40-person trial to examine the effect of ifenprodil on COVID-19 patients with severe pneumonia

Vial of blood labeled 'COVID-19 + positive' held in front of the South Korean flag
Algernon is a drug repurposing company that investigates safe, already approved drugs for new disease applications

Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) has filed a regulatory submission with South Korea’s Ministry of Food and Drug Safety for an investigator-led Phase 2 coronavirus (COVID-19) study of its repurposed drug ifenprodil (NP-120).

The company plans to go forward with a 40-person trial to examine the effect of ifenprodil on COVID-19 patients with severe pneumonia. The primary endpoint of study is the rate at which lung functions improve by measuring oxygen levels in the blood. 

Secondary endpoints include mortality, the rate of mechanical ventilation as well as patient-reported effects related to cough and breathlessness.

READ: Algernon Pharmaceuticals gets warm reception from regulators for its planned Phase 2 coronavirus trial of ifenprodil

Once the study gets approved, Algernon will work with Novotech, its lead Asia-Pacific contract research organization, and the physician investigators to enroll patients and begin the trial as soon as possible.

Ultimately, the company believes ifenprodil could reduce both the severity and the duration of the coronavirus infection.

Algernon, based in Vancouver, is a drug repurposing company that investigates safe, already approved drugs for new disease applications. The company has filed new intellectual property rights around the world for Ifenprodil for the treatment of respiratory diseases and is working to develop a proprietary injectible, slow-release formulation.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Algernon Pharmaceuticals Inc.

Price: 0.35 CAD

CSE:AGN
Market: CSE
Market Cap: $31.52 m
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