Algernon Pharmaceuticals Inc (AGNPF)

[medchem]

News release!

We are scaling up drug production for our trial!

VANCOUVER, British Columbia, March 23, 2020 (GLOBE NEWSWIRE) -- VANCOUVER, BC – (March 23, 2020) – Algernon Pharmaceuticals Inc. (CSE: AGN) (FRANKFURT: AGW) (OTCQB: AGNPF) (the “Company” or “Algernon”) a clinical stage pharmaceutical development company announces that it has awarded the contract to manufacture the active pharmaceutical ingredient for NP-120 (Ifenprodil), to U.S. based Cascade Chemistry. Algernon has made the decision to scale-up cGMP manufacturing of Ifenprodil to support its quickly evolving clinical program for acute lung injury (ALI), its urgent clinical focus on COVID-19 (Coronavirus), as well as its idiopathic pulmonary fibrosis (IPF) clinical program. Cascade Chemistry, based in Eugene Oregon, are specialists in chemical synthesis.

As work begins on the synthesis of Ifenprodil, the Company will also be moving forward as soon as possible with toxicity testing, as well as the development of new formulations for parenteral injection for ALI and an oral slow release formulation for IPF.

“We are every pleased to have appointed Cascade Chemistry to start the synthesis of Ifenprodil,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals. “The Company believes strongly in the potential of Ifenprodil to treat patients who are suffering from a severe acute lung injury as a result of various forms of respiratory diseases including coronavirus, influenza, and IPF.

About Cascade Chemistry

Cascade Chemistry, is a contract research and manufacturing organization focusing on developing and scaling synthetic processes and working with client’s API’s from discovery to clinical manufacturing.

For nearly 40 years, Cascade Chemistry has provided crucial chemistry problem solving services to its clients. Over this time, it has developed a reputation as a reliable and experienced outsourcing partner. Cascade Chemistry continues to expand it’s R&D, process chemistry, and cGMP offerings. https://cascadechemistry.com/