Algernon Pharmaceuticals Inc. announced that its subsidiary, Algernon NeuroScience (AGN Neuro), has engaged Validcare as the contract research organization for an upcoming Phase 2a clinical study examining DMT treatment in stroke patients. The randomized, double-blind, placebo-controlled trial will involve 40 European participants, with enrollment anticipated to commence in Q3 2025.
Investment Component
As part of the CRO appointment, Validcare committed to a US $170,000 equity investment in AGN Neuro, staged progressively as the study advances. This arrangement aligns the organizations’ financial incentives toward timely completion, budget adherence, and robust data quality.
Key Statements
Validcare’s CEO noted the preclinical evidence supporting DMT’s effectiveness:
“The pre-clinical data shows that DMT is very effective in reducing the damaged area caused by an ischemic stroke as well as restoring almost full motor function.”
Algernon’s CEO emphasized the clinical significance, stating approximately 85% of ischemic stroke patients cannot access interventional treatments, positioning DMT’s potential neuroplasticity promotion as meaningful therapeutic work.
About the Companies
Validcare operates as a full-service CRO specializing in clinical study execution across therapeutic domains.
Algernon Pharmaceuticals develops clinical-stage pharmaceutical treatments for unmet global medical needs.