Algernon Pharmaceuticals Inc (AGNPF)

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Novatech's CEO on Algernon

Asia-Pacific CRO Novotech is trying out a new equity play with the biotechs it serves, making an investment in Canada’s Algernon while conducting a Phase II idiopathic pulmonary fibrosis and chronic cough study for its drug candidate NP-120 (ifenprodil).
“Novotech is a passive funder (we are not seeking Board or management representation) and the amounts we will commit are a relatively small amount of the overall funding requirement,” CEO John Moller told Endpoints News. “This is important, as we want to eliminate potential conflicts of interest, but it is also attractive to biotechs as we are wanting to help to bring them to clinic rather than needing to take a view of the market potential of a drug.”

https://endpts.com/british-heart-foundation-unveils-shortlist-for-30m-research-award-onconova-scraps-china-partnership/