Algernon Signs Novotech Up for Midstage Respiratory Therapy Test (Fierce Biotech)

Algernon Signs Novotech Up for Midstage Respiratory Therapy Test

UF startup Algernon Pharmaceuticals has chosen contract research organization (CRO) Novotech to help run its phase 2 idiopathic pulmonary fibrosis and chronic cough trial for its experimental med NP-120 (Ifenprodil).

The study is slated to start in the second quarter of 2020, and Algernon will tap Novotech’s experience across the Asia-Pacific region. Also, the CRO has penned a letter of intent to make an equity investment in Algernon worth around CA$220,000.

NP-120 is an N-methyl-d-aspartate (NMDA) glutamate receptor antagonist, specifically targeting the NMDA-type subunit 2B. The drug may sound familiar and is better known as Cerocral, which was initially developed by french big pharma Sanofi back in the 1990s.

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