This week,
Algernon Pharmaceuticals Inc. (CSE: AGN, OTCQB: AGNPF, Forum) stated that the external Data and Safety Monitoring Board has completed its latest review of the Phase 2b part of the Company’s Phase 2b/3 human study of NP-120 (Ifenprodil) for the treatment of COVID-19, and has provided approval for the Company to continue on with the Phase 3 part of the study.
Not making any express or implied claims that Ifenprodil has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus), Algernon Pharmaceuticals CEO Christopher J. Moreau stated that as AGN awaits the final data from the Phase 2b part of its Ifenprodil COVID-19 study, it is critical for the team to know that from a safety perspective, they are now clear to move into the Phase 3 part of the study.
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The Vancouver, BC-based clinical stage pharmaceutical development and drug repurposing Company recently made news when it highlighted
a new independent research review published in the European Archives of Psychiatry and Clinical Neuroscience, that identified Ifenprodil as a possible re-purposed drug candidate for the treatment of COVID-19.
The Review proposes repurposing traditional central nervous system drugs that have a high affinity at the sigma-1 receptor, a network of membranes inside a cell that has an important role in SARS-CoV-2 replication, naming Ifenprodil as a potential treatment of SARS-CoV-2-infected patients.
Upon reading this review, Dr. Mark Williams, CSO of Algernon Pharmaceuticals stated that AGN had mostly focused on Ifenprodil’s role as an NMDA receptor antagonist when exploring its potential as a COVID-19 therapeutic.
“However, its role as a sigma-1 receptor agonist is also well established and the connection with this receptor being a key therapeutic target involving SARS-CoV-2 replication is a very promising discovery, and adds to our confidence as we wait for the final results from our COVID-19 Ifenprodil study.”
FULL DISCLOSURE: Algernon Pharmaceuticals Inc. is a client of Stockhouse Publishing.