Algernon Pharmaceuticals (TSE:AGN) has released an update.
Algernon Pharmaceuticals has successfully completed the sale of its NP-120 (Ifenprodil) chronic cough research program to U.S. company Seyltx for $2 million and a 20% equity stake. Ifenprodil, a novel agent targeting the NMDA receptor, shows promise as a treatment for chronic cough, particularly in patients with idiopathic pulmonary fibrosis. Seyltx is set to further the research with a Phase 2b clinical trial, while Algernon will continue to offer support and oversight.
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