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Algernon Pharmaceuticals says last patient treated in Phase 2b portion of Ifenprodil trial

Ifenprodil is being investigated as a potential treatment for COVID-19

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Algernon believes Ifenprodil can reduce the infiltration of neutrophils and T-cells into the lungs where they can cause the dangerous “cytokine storm” in COVID-19 patients

Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) announced Thursday that it had treated the last patient in the Phase 2b portion of its multinational Phase 2b/3 study of Ifenprodil (NP-120), a potential COVID-19 treatment.

In a statement, the company said the patient had completed treatment as well as the required two-week follow up.

Vancouver-based Algernon recently announced positive trending interim data from the Phase 2b portion of the study. Full results are expected before the end of February.

READ: Algernon provides additional facts on its interim data for its Phase 2b/3 Ifenprodil COVID-19 study

CEO Christopher Moreau called the news “another important step” for the company.

“Now that we have announced final patient out of the Ifenprodil COVID-19 study, we can begin preparations for the final data report,” Moreau told shareholders.

Ifenprodil is an N-methyl-D-aspartate receptor antagonist specifically targeting the NMDA-type subunit 2B (Glu2NB) and prevents glutamate signalling. The NMDA receptor is found on many tissues including lung cells, T-cells, and neutrophils.

Algernon believes Ifenprodil can reduce the infiltration of neutrophils and T-cells into the lungs where they can cause the dangerous “cytokine storm” that contributes to the loss of lung function and ultimately death as has been reported in COVID-19 infected patients.

The firm cautioned it is not making any express or implied claim that Ifenprodil is effective against COVID-19 at this time.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Price: 0.27 CAD

CSE:AGN
Market: CSE
Market Cap: $37.85 m
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