• Algernon Pharmaceuticals (CSE:AGN) has finalised the protocol for a Phase Two clinical study of a potential COVID-19 treatment
  • The company is in the process of completing and submitting all necessary documents for the study’s approval 
  • The company’s Ifenprodil drug will be tested on COVID-19 patients in South Korea, with a second human trial planned in Australia
  • The company is working with contract research organisation, Novotech, to conduct the studies
  • Algernon Pharmaceuticals (AGN) is up 2.22 per cent, and is currently trading for $0.23 per share

Algernon Pharmaceuticals (CSE:AGN) has proposed a clinical study to test a potential COVID-19 treatment, utilising the company’s Infenprofil drug.

The Phase Two study will test the drug’s effect on COVID-19 patients in South Korea. 

The company is currently in the process of completing all of the necessary ethics submissions documents. Algernon expects to submit them for study approval very shortly. 

Algernon will conduct the Infenprodil trial with the support of a full service contract research organisation, Novotech. 

Novotech is internationally recognised for its experience in many countries, including Australia, New Zealand, Asia, and South Africa. 

The company has also retained Novotech, in order to conduct another Phase 2 human trial of the drug. The second COVID-19 trial will take place in Australia and will be company-sponsored.

It was the results of a recent successful feasibility study which convinced Algernon that a second human study was possible. 

The company is currently working to prepare all of the necessary documentation for ethics approval submission in Australia. With many lives already lost to COVID-19, and more on the line, it will hopefully be filed soon. 

Development, testing, and evaluation of disease treatments are notoriously long. However, scientists all over the globe have sped up the process in response to the ongoing pandemic.

Algernon’s CEO, Christopher J Moreau, praised both companies’ clinical development teams for their tireless work on the trial program. 

“The Algernon and Novotech clinical development teams have compressed processes that usually take many months, into days and weeks,” he said. 

Algernon Pharmaceuticals (AGN) is up 2.22 per cent, and trading for $0.23 per share, as of 3:38pm EST.

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