Algernon Pharmaceuticals Inc (CSE:AGN) (OTCQB:AGNPF) (FRA:AGW) has reached 70% of its enrollment target for its Phase 2 clinical study of its re-purposed drug NP-120 (Ifenprodil) for idiopathic pulmonary fibrosis (IPF) and chronic cough.
The company said the purpose of the 20-patient proof-of-concept Phase 2 human trial is to determine the efficacy of Ifenprodil in the preservation of lung function (including biomarkers of fibrosis), as well as the reduction of associated chronic cough frequency in IPF patients.
As each individual patient enrolls in the study, Algernon said it will begin treatment on an immediate basis for a period of 12 weeks. There are six sites in total participating in the study with four located in Australia and two in New Zealand.
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Ifenprodil has been shown to mediate anti-inflammatory responses and reduce pulmonary fibrosis in a murine model of IPF, and significantly reduced cough frequency and delayed cough onset in a guinea pig acute cough model.
“We are very pleased with the enrollment rate and grateful to the patients who are participating in our IPF and chronic cough Phase 2 clinical study,” said Algernon CEO Christopher Moreau in a statement. “This important research program is one of several being undertaken by Algernon as part of its unique drug re-purposing approach.”
Moreau added the company has about C$3.2 million cash on hand and is expecting a refundable tax credit receivable of C$2 million from the Australian government’s Research & Development Tax Incentive Program in September 2021, making Algernon “well-positioned to continue to execute on its corporate strategy.”
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