Algernon Pharmaceuticals Inc (AGNPF)

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On October 19, 2018, the Company completed the acquisition of 100% of the issued and outstanding shares of Nash Pharmaceuticals Inc. (“Nash Pharma”), including dilutive securities of Nash Pharma, in exchange for securities of Breathtec (the “Transaction”). Nash Pharma is a clinical stage pharmaceutical development company focused on developing repurposed therapeutic drugs in the areas of non-alcoholic steatohepatitis (NASH), chronic kidney disease (CKD) and inflammatory bowel disease (IBD). Drug repurposing (also known as re-profiling, re-tasking or therapeutic switching) is the application of approved drugs and compounds to treat a different disease than what it originally developed for. Through its ongoing research programs, Nash Pharma is seeking to minimize investment and drug development risk by taking advantage of regulatory approved drugs and discovering alternative clinical uses by accelerating entry into phase II clinical trials (human).

Upon the closing of the Transaction on October 19, 2018, the Company acquired all of the issued and outstanding common shares of Nash Pharma in consideration for the issuance of 15,800,000 common shares of the Company and 14,800,000 replacement warrants, with exercise prices and expiry dates equal to the Nash Pharma warrants cancelled.
To align the corporate identity with the Company’s new main strategy to be a global leader in the treatment of liver disease, chronic kidney disease and inflammatory bowel disease,

on February 19, 2019, the Company changed its name to Algernon Pharmaceuticals Inc. The Company’s common shares also began trading on the CSE on February 19, 2019 under the new symbol “AGN”.

https://www.otcmarkets.com/otcapi/company/financial-report/217777/content