- Argenica Therapeutics (AGN) receives a non-dilutive $350,000 cash boost to advance its Alzheimer’s Disease studies
- The donations come from the McCusker Charitable Foundation and Jim Litis, a longstanding supporter of the Perron Institute
- The funding follows the company’s successful Abeta study, where its ARG-007 product was shown to “significantly” reduce Abeta aggregation
- Argenica will put the cash towards further preclinical studies assessing the efficacy of ARG-007 in mice models
- Shares in AGN are trading at 44.5 cents at 11:58 am AEDT
Argenica Therapeutics (AGN) has received a non-dilutive $350,000 cash boost to advance its Alzheimer’s Disease studies
The company said the money came from philanthropic donors through the Perron Institute to help progress preclinical studies into the efficacy of Argenica’s ARG-007 product in Alzheimer’s Disease.
ARG-007 is AGN’s lead neuroprotective peptide candidate, having successfully demonstrated the ability to improve outcomes in pre-clinical stroke models, traumatic brain injury and hypoxic ischaemic encephalopathy.
The $350,000 in non-dilutive funding includes donations of $250,000 from the McCusker Charitable Foundation and $100,000 from Jim Litis, a longstanding supporter of the Perron Institute.
Argenica said the McCusker Charitable Foundation had a strong reputation for supporting medical research and the advancement of medical science in Western Australia, particularly in Alzheimer’s Disease research.
“We sincerely thank the support of these donors, the McCusker Charitable Foundation and Mr Litis, for this generous funding to support ongoing research on ARG-007 in collaboration with the Perron Institute,” Argenica Managing Director Liz Dallimore said.
The funding follows positive results from Argenica’s Abeta study, announced on February 9, 2023, where ARG-007 was shown to significantly reduce Abeta aggregation.
The latest cash boost will cover the cost of further preclinical studies assessing the efficacy of ARG-007 in a mouse model.
Aged mice will receive doses of ARG007 over a period of time, and Argenica will assess the effect on Abeta levels and plaques, Tau protein levels, neuroinflammation, and neurodegeneration.
“We are excited about the Alzheimer’s data generated to date and look forward to releasing the results of the in vivo study once complete,” Dr Dallimore said.
Dosing for the study is expected to commence in March 2023, with final results to be received towards the end of the year.
Shares in AGN were trading at 44.5 cents at 11:58 am AEDT.