Algernon NeuroScience
Algernon NeuroScience is a clinical-stage pharmaceutical company developing AP-188, a proprietary intravenous DMT formulation for treating acute ischemic stroke and traumatic brain injury, currently raising capital to fund Phase 2a trials.
- Company typePrivate
- Founded2022
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Algernon NeuroScience does
Algernon NeuroScience is a clinical-stage pharmaceutical company developing AP-188, a proprietary intravenous formulation of N,N-Dimethyltryptamine (DMT), as a sub-psychedelic neuroplasticity agent for acute ischemic stroke and traumatic brain injury (TBI). The drug candidate targets sigma-1 receptors and is designed to upregulate brain-derived neurotrophic factor (BDNF), with preclinical data showing a 40% increase in cortical neuron growth and near-full motor recovery in rat stroke models. A Phase 1 safety and tolerability trial in 29 healthy volunteers was completed at the Centre for Human Drug Research in the Netherlands in Q1 2024, meeting all primary endpoints, and a Phase 2a study in 40 ischemic stroke patients is planned for Q3 2025 at the National Institute of Hungary. A December 2024 clinical trial agreement with Yale University extends AP-188 into a third indication, major depressive disorder.
The company was founded in 2022 in Vancouver, Canada, as a wholly owned subsidiary of Grey Matters Health Inc. (formerly Algernon Pharmaceuticals). Capital formation has been executed through a Reg A+ offering of up to $10 million at a $10 million pre-money valuation, supplemented by a CAD $1.25 million private placement, a $500,000 strategic investment from American Molecular Imaging, and a $170,000 ValidCare tranche. The asset base is protected by a portfolio of pending patents covering novel DMT salt forms and methods of use, and the program is supported by an advisory board including Dr. Rick Strassman, Dr. David Nutt, Dr. Andrew Maas, and Dr. David Brody.
The business model is currently pre-revenue and contingent on eventual regulatory approval, out-licensing, or strategic acquisition of AP-188. Management has signaled an intent to pursue a NASDAQ uplisting following the Phase 2a read-out. The addressable market is framed at approximately $15 billion for stroke therapeutics by 2027 and $4.5 billion for TBI by 2026, with management of CEO Christopher J. Moreau and CFO James Kinley overseeing a team of 11–50. There are no current product sales, no licensing revenue, and no grant income disclosed; all funding to date has been dilutive equity capital.
Algernon NeuroScience firmographics
Firmographics- Name
- Algernon NeuroScience
- Legal name
- Algernon NeuroScience
- Website
- https://algernonneuroscience.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Algernon NeuroScience is a clinical-stage pharmaceutical company developing AP-188, a proprietary intravenous DMT formulation for treating acute ischemic stroke and traumatic brain injury, currently raising capital to fund Phase 2a trials.
- Ownership category
- akta.pro rank
Algernon NeuroScience industry classification
Industry- Product category
- Clinical-Stage Neuropharmaceuticals
- NAICS
- Pharmaceutical and Medicine Manufacturing (32541), Scientific Research and Development Services (5417)
- SIC
- Pharmaceutical Preparations (2834)
- akta.pro primary industry
- Neurology & Psychiatry (CNS) Pharmaceuticals (HLAIAAAF)
- akta.pro secondary industry
- Neurology & CNS Specialty Pharmaceuticals (HLAIACAC)
Keywords
Where Algernon NeuroScience is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Algernon NeuroScience business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Drug Development and Licensing: Algernon NeuroScience is a clinical-stage pharmaceutical company developing DMT-based therapeutics for stroke and TBI. The company plans to advance through Phase 2a clinical trials with plans for potential NASDAQ IPO listing based on trial outcomes. Revenue would be generated through eventual drug approval, licensing agreements, or acquisition.
- Regulation A+ Equity Offering: The company filed a Form 1-A with the SEC under Tier II Regulation A+ offering, seeking to raise up to USD $5M (or up to $10M per company overview) for AGN Neuro by offering up to 37.5% of common shares. Capital raised will be used for research, development, and program management costs related to Phase 1 and Phase 2a DMT stroke studies.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels5 records
Algernon NeuroScience product offering
Product offeringCore offering
Algernon NeuroScience is a clinical-stage pharmaceutical company developing AP-188, a proprietary intravenous formulation of N,N-Dimethyltryptamine (DMT), administered at sub-psychedelic doses to promote neuroplasticity. Its pipeline targets acute ischemic stroke and traumatic brain injury (TBI), addressing conditions for which limited or no drug treatments exist. The company has completed a Phase 1 safety study in 29 healthy volunteers and is planning a Phase 2a ischemic stroke study in Hungary.
Product overview
Algernon NeuroScience is a clinical-stage pharmaceutical company developing AP-188 (DMT), a naturally occurring psychedelic compound, for two neurological indications: acute ischemic stroke and traumatic brain injury. The company has completed a Phase 1 safety study and is planning Phase 2a trials. The product works by increasing brain-derived neurotrophic factor (BDNF) and promoting neuroplasticity - the brain's ability to form and reorganize synaptic connections. The company's approach uses sub-psychedelic doses of DMT to avoid hallucinogenic effects while therapeutic. As a wholly owned subsidiary of Grey Matters Health Inc., it is also connected to NovaScan Neuroimaging Clinics, a network of brain PET scanning clinics for neuroimaging diagnostics.
Differentiator
Problem solved
Functional benefit
Products and services
- AP-188 (DMT) for Stroke Proprietary intravenous formulation of N,N-Dimethyltryptamine (DMT) being developed for the treatment of acute ischemic stroke. The drug increases brain-derived neurotrophic factor (BDNF) and promotes neuroplasticity to facilitate recovery after stroke, administered at sub-psychedelic doses.
- AP-188 (DMT) for Traumatic Brain Injury DMT being investigated as a potential treatment for traumatic brain injury (TBI). The therapy leverages the same neuroplasticity-promoting properties as the stroke program, addressing secondary brain injuries via neuroinflammation reduction and BDNF elevation, particularly for mild TBI patients with unresolved symptoms after 6 months.
Quantifiable outcome
- 40% increase in cortical neuron growth in preclinical studies at 30 nM DMT concentration
- +4 more outcomes
Companies that use Algernon NeuroScience
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles2 records
Algernon NeuroScience technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Algernon NeuroScience partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor and core.
- American Molecular ImagingminorAnnounced strategic business and USD $500K investment agreement with American Molecular Imaging. This partnership relates to the parent company Grey Matters Health's NovaScan Neuroimaging Clinics initiative for brain PET scanning.
- Dr. Sándor Nardai / National Institute of Mental Health, Neurology and NeurosurgerycoreDr. Sándor Nardai, one of Europe's leading stroke experts and associate professor at Semmelweis University, will serve as principal investigator for the Phase 2a DMT stroke study in Hungary. Dr. Nardai conducted the groundbreaking rat stroke occlusion study published in 2020 that demonstrated DMT's therapeutic potential, showing that rats treated with sub-psychedelic DMT recovered almost full motor function and exhibited smaller infarct volumes.
- Yale UniversitycoreAlgernon Pharmaceuticals entered into a Clinical Trial Agreement with Yale University for a Phase 2 depression study using DMT. This partnership leverages Yale's expertise in psychiatric research and clinical trial infrastructure for exploring additional therapeutic applications of the company's DMT program.
- Centre for Human Drug Research (CHDR)coreThe Centre for Human Drug Research in Leiden, Netherlands conducted Algernon's Phase 1 DMT clinical trial. The study assessed safety, tolerability, and pharmacokinetics of intravenous DMT administered as bolus followed by prolonged infusion in 29 healthy volunteers. The research institution has expertise in clinical pharmacology and has worked on multiple psychedelic drug studies.
- Dalton PharmacoreCanadian manufacturer with licenses to produce psychedelic compounds. Awarded DMT manufacturing contract for Algernon's stroke program. Produced clinical-grade cGMP DMT material for the company's Phase 1 clinical trials when other suppliers couldn't meet requirements.
- Dr. Rick StrassmancoreMedical and Scientific Advisor and DMT expert. Dr. Strassman is Clinical Associate Professor of Psychiatry at UNM School of Medicine, author of 'DMT: The Spirit Molecule' (250,000 copies sold, 12 translations). His pioneering DMT research from 1990-1995 at University of New Mexico established foundational dosing protocols for Algernon's clinical program.
- Dr. David NuttcoreMedical and Scientific Advisor and Neuropsychopharmacology expert. Professor at Imperial College London, former chair of UK Government's Foresight initiative on brain science, addiction and drugs. Advisor to the British National Formulary on psychiatry drugs. Published over 500 original research papers.
- Dr. Andrew MaascoreTBI Medical Advisor. Emeritus Professor of Neurosurgery at Antwerp University Hospital, past Chairman of Neurotraumatology Committee of World Federation of Neurosurgical Societies. Led the IMPACT study group awarded an NIH grant (2003-2011) and coordinates the CENTER-TBI European research project. Authored over 250 publications.
Scale indicators9 records
Recent moves7 records
Expansion highlights5 records
Algernon NeuroScience competitors and assessment
Company assessmentDirect peers
- MindMed: Clinical-stage psychedelic therapeutics company developing LSD (MM-120) and MDMA-based programs. Direct peer because it is a publicly traded clinical-stage psychedelic CNS company with comparable R&D-stage valuation dynamics, although its primary indications are anxiety/ADHD rather than stroke or TBI.
- Compass Pathways: Pioneer in psilocybin therapy for treatment-resistant depression, with publicly disclosed clinical readouts and a comparable 'proprietary psychedelic formulation' IP model. Direct peer in clinical-stage CNS psychedelic drug development, despite working with a different molecule and indication.
- GH Research: Clinical-stage company developing mebufotenin (5-MeO-DMT, an inhaled DMT-class tryptamine) for treatment-resistant depression. The most directly comparable peer because it is developing a DMT-family tryptamine for CNS indication using a proprietary formulation, mirroring Algernon's AP-188 strategy.
- ATAI Life Sciences: Clinical-stage platform company with multiple psychedelic programs (including DMT-related assets through portfolio companies such as Viridia Life Sciences). Direct peer because of the multi-asset psychedelic platform structure and its exposure to CNS indications, including recent DMT-related pipeline activity.
- Cybin: Clinical-stage psychedelic CNS company (formerly Small Pharma) developing deuterated DMT (CYB004) for generalized anxiety disorder. Direct peer because it is developing a proprietary DMT-based formulation for a CNS indication through similar Phase 1/2 clinical development.
Broad incumbents
- Sage Therapeutics: Commercial-stage CNS biopharma with FDA-approved neuroactive steroid Zurzuvae for postpartum depression and Zulresso. Broad incumbent providing a reference point for valuation, regulatory pathway, and commercial-scale CNS drug development, although Sage is more focused on depression than stroke/TBI.
- Biogen: Large neurology-focused biopharma with established CNS pipeline and commercialization infrastructure. Broad incumbent because it represents the type of larger partner or acquirer relevant to Algernon's CNS franchise, though Biogen operates at a vastly larger scale across neurodegenerative indications.
- H. Lundbeck: Specialty CNS biopharma with a portfolio of neurology and psychiatry products (e.g., vortioxetine, Rexulti). Broad incumbent that could plausibly acquire or partner a stroke/TBI asset post-Phase 2a, given its established CNS commercial footprint.
Emerging players
- Beckley Psytech: Emerging clinical-stage psychedelic CNS biotech developing intranasal and IV psychedelic formulations (now part of ATAI Life Sciences). Emerging player with partial overlap on psychedelic CNS drug delivery innovation, though focused on different indications.
- Noxxon Pharma: Clinical-stage biotech developing RNA-targeted therapies against CXCL12 and other chemokines for stroke recovery and oncology. Emerging player with a relevant overlapping indication (post-stroke recovery) and similar clinical-stage development profile.
Market position
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Algernon NeuroScience social profiles
Digital presenceAlgernon NeuroScience financial estimates
Financial estimateRevenue estimate
Valuation estimate
Algernon NeuroScience leadership team
Management profileNumber of profiles
Profiles9 records
Algernon NeuroScience funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Algernon NeuroScience M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Algernon NeuroScience
What does Algernon NeuroScience do?
Algernon NeuroScience is a clinical-stage pharmaceutical company developing AP-188, a proprietary intravenous formulation of N,N-Dimethyltryptamine (DMT), administered at sub-psychedelic doses to promote neuroplasticity. Its pipeline targets acute ischemic stroke and traumatic brain injury (TBI), addressing conditions for which limited or no drug treatments exist. The company has completed a Phase 1 safety study in 29 healthy volunteers and is planning a Phase 2a ischemic stroke study in Hungary.
Is Algernon NeuroScience a public or private company?
Algernon NeuroScience is a private company. It is classified as corporate owned and is currently operating.
When was Algernon NeuroScience founded?
Algernon NeuroScience was founded in 2022. It employs 11 to 50 people.
Where is Algernon NeuroScience based?
Algernon NeuroScience is headquartered in Vancouver, Canada, in the North America region.
How does Algernon NeuroScience make money?
Two revenue lines are on record. Drug Development and Licensing is the primary driver. The others are regulation A+ Equity Offering.
Who are Algernon NeuroScience's main competitors?
Direct peers on record are MindMed, Compass Pathways, GH Research, ATAI Life Sciences and Cybin. Broad incumbents are Sage Therapeutics, Biogen and H. Lundbeck. Emerging players are Beckley Psytech and Noxxon Pharma.
Does Algernon NeuroScience have an API?
No public API is recorded for Algernon NeuroScience.
What industry is Algernon NeuroScience in?
Algernon NeuroScience's product category is Clinical-Stage Neuropharmaceuticals. Its primary akta.pro industry code is HLAIAAAF, Neurology & Psychiatry (CNS) Pharmaceuticals, with a secondary code of HLAIACAC, Neurology & CNS Specialty Pharmaceuticals. Its NAICS code is 32541 and its SIC code is 2834.