Algernon Pharmaceuticals Inc (AGNPF)

[AllGold818]

[Special Report]The Biggest Market Opportunity Of 2020: Coronavirus (AGNPF)


The drug, which was tested on a coronavirus patient overseas for the first time Wednesday, may reduce the severity and duration of COVID-19 infections, according to Algernon Pharmaceuticals, a Canadian drug repurposing company that investigates pre-approved drugs for new disease applications and is now leading Ifenprodil's COVID-19 testing.

[Special Report]The Biggest Market Opportunity Of 2020: Coronavirus

"Just looking at the results of the research, it's astonishing," said Mark Williams, Algernon's medical director. "Our drug might have a good chance at modulating the disease and hopefully reducing much of the damage that can occur in the lungs."

Algernon will be testing the drug on 150 patients worldwide. Locations include Australia, Romania, the Philippines and the United States -- with at least two locations in South Florida. Westchester General was the first site to be activated and will be investing $20,000 to $25,000 in the testing process, according to Williams.

Ifenprodil could treat a lung disease called Idiopathic Pulmonary Fibrosis, a "scarring or thickening of the lung tissue" that researchers fear is causing some COVID-19 deaths and could continue to threaten the lives of recovered patients after they leave the hospital, according to Algernon's CEO, Christopher Moreau.



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https://www.marketwatch.com/press-release/a-pill-that-may-lessen-covid-related-lung-damage-miami-will-be-first-in-us-to-test-it-2020-08-10