Algernon Health (CSE:AGN, OTCQB:AGNPF) said on Monday it has signed a strategic business and investment agreement with US-based American Molecular Imaging (AMI) to provide exclusive radiology reading services for its planned network of brain-focused PET neuroimaging clinics in the US.
Algernon said the facilities, slated to begin opening in early 2026, will be the first dedicated brain-optimized PET neuroimaging clinics in the country, aimed at early detection of Alzheimer’s disease as well as other dementias, epilepsy, neuro-oncology and movement disorders.
Under the agreement, AMI will make a total strategic investment of US$500,000, split between Algernon’s recently announced private placement and its US subsidiary, Algernon USA LLC, which will oversee domestic operations. The investment in Algernon USA LLC remains subject to definitive documentation, expected within 60 days.
AMI will also serve as the exclusive provider of radiology exam interpretations and reports for all of Algernon’s planned clinics.
“We are very pleased to have entered into this agreement with AMI,” CEO Christopher Moreau said, adding that the company has been building partnerships with leading US nuclear imaging groups to support its new Alzheimer’s initiative.
Jaideep Sohi, CEO of AMI, said the partnership aligns with the company’s mission to build a “world-class” nuclear medicine organization and contribute to efforts to combat Alzheimer’s disease.
AMI, a physician-owned teleradiology and theranostics provider, supports healthcare groups nationwide with specialized molecular imaging and diagnostic interpretation services.
Algernon recently signed an equipment and financing agreement with Catalyst MedTech for four FDA-cleared CareMiBrain PET systems for use in its first clinics, a non-dilutive deal valued at more than C$4 million. The arrangement includes an option to acquire six additional scanners for further US expansion.
The company said it will provide further details on clinic locations and growth plans in the near term.
Separately, Algernon announced it closed the first tranche of its previously disclosed non-brokered private placement, raising C$177,000 through the sale of 2.53 million units at C$0.07 each. Insiders purchased C$37,000 of the units, the company said.
Proceeds will support Algernon’s Alzheimer’s disease program, including the launch of its first US clinic, as well as general administrative and working-capital needs.