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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