- Algernon Pharmaceuticals (AGN) has signed an exclusive licensing agreement with Dartmouth College for the rights to a method of use patent for treating neuroendocrine cancers
- The agreement includes a license initiation fee, maintenance, and milestone fees, as well as an ongoing royalty on sales
- A research paper concluded that Ifenprodil (NP-120) reduced the average neuroendocrine tumour size by approximately 50 per cent within three days
- The company is planning to submit a pre-IND meeting request with the U.S. Food and Drug Administration
- Algernon is a clinical-stage pharmaceutical development company
- Algernon Pharmaceuticals Inc. (AGN) opened trading at C$0.09 per share
Algernon Pharmaceuticals (AGN) has signed an exclusive licensing agreement with Dartmouth College.
Under the terms of the agreement, Algernon will acquire the rights to a method of use patent for treating neuroendocrine cancers.
The agreement with Dartmouth includes a license initiation fee, maintenance, and milestone fees, as well as an ongoing royalty on sales.
Neuroendocrine cells integrate the nervous and endocrine systems by receiving neuronal input from nerve cells and releasing hormones into the blood. Most neuroendocrine tumors occur in the lungs, appendix, small intestine, rectum, and pancreas.
Algernon recently announced that it had initiated a pancreatic cancer research program for NP-120 (Ifenprodil). A research paper, authored by Dr. William North of Dartmouth College, concluded that Ifenprodil reduced the average solid tumour size by approximately 50 per cent within three days, and this reduction was maintained for the duration of treatment in a murine model of PC. The average tumour size in the untreated group doubled during the same period.
The company is planning to submit a pre-IND (Investigational New Drug) meeting request with the U.S. Food and Drug Administration to present all elements of the company’s PC clinical program design to receive the agency’s guidance and advice.
“We are very pleased with the outcome of our discussions with Dartmouth regarding the research work that was pioneered by Professor North,” said Christopher J. Moreau, CEO of Algernon Pharmaceuticals.
“Dartmouth is a world-class center of education and its close affiliation with Dartmouth-Hitchcock Medical Health Center will be an asset as we move our Ifenprodil-based cancer program forward into clinical trials.”
Ifenprodil is an N-methyl-D-aspartate (NMDA) receptor antagonist specifically targeting the NMDA-type subunit 2B (GluN2B). The NMDA receptor is found on many tissues including lung cells, T-cells, and neutrophils and certain types of cancer cells.
Algernon is a clinical-stage pharmaceutical development company that investigates safe, approved drugs for new disease applications.
Algernon Pharmaceuticals Inc. (AGN) opened trading at C$0.09 per share.
