FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Algernon Appoints U.S. Company for cGMP Manufacturing of NP-120 (Ifenprodil) for COVID-19 Clinical Trials”
Algernon Pharmaceuticals Inc. (OTCQB: AGNPF) (CSE: AGN) a clinical stage pharmaceutical development company announces that it has awarded the contract to manufacture the active pharmaceutical ingredient for NP-120 (Ifenprodil), to U.S. based Cascade Chemistry. Algernon has made the decision to scale-up cGMP manufacturing of Ifenprodil to support its quickly evolving clinical program for acute lung injury (ALI), its urgent clinical focus on COVID-19 (Coronavirus), as well as its idiopathic pulmonary fibrosis (IPF) clinical program. Cascade Chemistry, based in Eugene Oregon, are specialists in chemical synthesis.
Algernon Pharmaceuticals is a clinical stage pharmaceutical development company focused on advancing its lead compounds for non–alcoholic steatohepatitis (NASH), chronic kidney disease (CKD) inflammatory bowel disease (IBD), idiopathic pulmonary fibrosis (IPF), and chronic cough.
Medical conditions are universally prevalent around the world, especially in areas where people lack access to proper healthcare. The most common forms of deadly medical conditions are coronary artery disease, cancers, diabetes, cirrhosis, and tuberculosis, according to Health Line. Even while many biotechnology companies are focusing on treatments, the number of medical cases are steadily growing every year. On the other hand, the demand to effectively treat or potentially eliminate these conditions is also growing. However, now companies within the industry are beginning to focus on therapeutic and diagnostic solutions such as red biotechnology, recombinant technology, and DNA sequencing. According to data compiled by Variant Market Research, the global biotechnology market is estimated to reach USD 726.8 Billion by 2025. Additionally, the market is expected to exhibit a CAGR of 8.1% from 2017 to 2025.
Other common medical conditions that are found around the world include lung diseases. For example, in 2010, lung diseases accounted for over 1 million deaths in the U.S., according to the National Heart, Lung, and Blood Institute. Lung diseases are primarily caused by family genetics, but can also result from allergies, being overweight, smoking, and exposure to pollutants. There are various classifications of lung diseases, such as diseases that affect the airway, air sacs, and blood vessels, but the concern over interstitial lung diseases has recently become more prevalent. Interstitial lung diseases (ILD) affect the interstitium, which is a microscopically thin, delicate lining between the lungs’ air sacs. The most common forms of ILDs are idiopathic pulmonary fibrosis (IPF) and sarcoidosis. IPFs cause the lung tissue to scar, changing the lungs’ ability to function properly. However, IPFs are just one of the biggest markets within the segment. There is currently no cure for IPFs, therefore, biotechnology companies continually develop and expand upon drugs for treatment. According to Technavio analysts, the global idiopathic pulmonary fibrosis market is expected to grow at a CAGR of 23.97% during the period from 2016 to 2020. “Idiopathic pulmonary fibrosis (IPF) is the most common idiopathic interstitial pneumonia and is increasingly recognized. Prior to the advent of effective therapies, achieving an early diagnosis was arguably of little prognostic consequence given IPF was considered an untreatable and uniformly fatal disease,” according to research published on the U.S. National Library of Medicine. “The advent of new drug treatments has given hope for the future and raised the profile of IPF. International management guidelines highlight the critical role of radiology as part of an interstitial lung disease multidisciplinary team approach in reaching an accurate and early diagnosis of IPF.”
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