Algernon Pharmaceuticals Announces Closing of the Acquisition of its Chronic Cough Research Program by U.S. Based Seyltx for USD $2M and a 20% Equity Position
The Company previously announced on November 22, 2003 that it had signed a Letter of Intent with Seyltx, to acquire Algernon’s Ifenprodil research program.
- The Company previously announced on November 22, 2003 that it had signed a Letter of Intent with Seyltx, to acquire Algernon’s Ifenprodil research program.
- Ifenprodil is an N-methyl-D-aspartate (“NMDA”) receptor antagonist specifically targeting the NMDA type subunit 2B (GluN2B), which prevents glutamate signaling.
- Ifenprodil is one of Algernon’s lead research programs and represents a novel first-in-class potential treatment for chronic cough.
- It is thought to interfere with central signalling in the brain, suppressing the urge to cough.