VANCOUVER, British Columbia, March 31, 2026 (GLOBE NEWSWIRE) -- Algernon Health Inc. (the “Company” or “Algernon”) (CSE: AGN) (FRANKFURT: AGW0) (OTCQB: AGNPF), a Canadian healthcare company, announces that it intends to change its corporate name from “Algernon Health Inc.” to “Grey Matters Health Inc.” (the “Name Change”). The Company has reserved the new name and new symbol “GREY” with the Canadian Securities Exchange (the “CSE”). The new symbols for the OTCQB and Frankfurt exchange will be provided shortl ...

Core Viewpoint - Algernon Health Inc. has launched a new brand name, NovaScan Neuroimaging Clinics, for its network of brain PET scanning centers in the U.S., featuring the FDA-cleared CareMiBrain™ system, which is a standalone PET scanner without an integrated CT component [1][6]. Company Overview - Algernon Health is a Canadian healthcare company focused on providing brain-specific PET scanning services through a planned network of neuroimaging clinics in the U.S. aimed at early-stage detection of Alzheimer's Disease and other neurological conditions [10]. Brand Identity - The new brand name, NovaScan, combines "Nova," meaning 'new' in Latin, and "Scan," reflecting the company's vision for a streamlined approach to brain PET imaging [4]. - The visual identity features navy and red fonts symbolizing American heritage, with a logo designed to represent the shape of a brain, emphasizing cognitive health and patient comfort [5]. Technology and Services - The CareMiBrain™ technology allows for 25% less radiation exposure to patients compared to traditional PET/CT scanners, as it operates independently without a CT component [7]. - The Florida clinic will be the first in the U.S. to provide dedicated brain-optimized PET scans, aiding in the detection and treatment of Alzheimer's Disease and other neurological disorders [6]. Future Plans - The inaugural clinic is located at the HCA Florida University Medical Offices in Davie, approximately twenty minutes southwest of Fort Lauderdale, with updates on the official opening date and patient referrals expected soon [9].

Core Insights - NRx Pharmaceuticals ended 2025 with $7.8 million in cash, eliminated all convertible debt, and expects to fund operations through at least the end of 2026 based on growing clinic revenues and ATM activity [1][4][23] - The company is pursuing three potential drug approvals while expanding its HOPE Therapeutics clinic network, which is already generating EBITDA-positive revenue [2][3] - NRx is advancing regulatory pathways for preservative-free ketamine and an investigational ketamine product, alongside an expanded strategy for its NRX-101 program [3][4] Financial Performance - NRx reduced its operating loss by approximately $2.3 million to $16.2 million for the year ended December 31, 2025, compared to $18.5 million in 2024, primarily due to lower R&D spending [22] - R&D expenses fell to $3.8 million from $6.2 million, driven by reduced clinical trial and development costs [22] - General and administrative expenses declined to $13.1 million, attributed to ongoing cost reduction initiatives [22] Drug Development and Approvals - NRx is pursuing an NDA for NRX-100 using clinical and real-world evidence, with a potential PDUFA decision by the end of 2026 or early 2027 [5][12][15] - The ANDA for KETAFREE is under FDA review, with a preliminary determination of bioequivalence to Ketalar and a targeted approval in summer 2026 [6][7][8] - The company has manufactured three registration batches of KETAFREE and anticipates having 200,000 units in inventory at the time of approval [9][8] HOPE Therapeutics and Clinic Expansion - HOPE Therapeutics clinics are generating revenue and helping to lower cash burn, with plans to open additional clinics in West Palm Beach, Sarasota, Boston, and Denver [4][20][21] - The subsidiary began generating revenue after acquiring Dura Medical and later added Cohen & Associates, which is described as revenue-generating and EBITDA positive [20] - NRx has launched a nationwide expanded access program for D-cycloserine in conjunction with TMS treatment, awaiting a confirmatory Phase III trial [19][20] Strategic Partnerships and Innovations - NRx appointed Dr. Joshua C. Brown as Chief Medical Innovation Officer to lead initiatives related to neuroplastic care [19] - The company is pursuing a patentable sustained release form of D-cycloserine to enhance TMS treatment [18] - NRx has partnered with neurocare group AG for the Apollo TMS device, which is installed at over 400 U.S. clinical locations [21]

Core Viewpoint - Algernon Health Inc. is set to open its first brain PET scanning clinic in the U.S. aimed at early detection of Alzheimer's Disease and other neurological conditions, leveraging a new diagnostic technology that reduces radiation exposure for patients [1][3][4]. Company Overview - Algernon Health Inc. is a Canadian healthcare company focused on providing brain-specific PET scanning services through a network of neuroimaging clinics in the U.S. for early-stage detection of Alzheimer's Disease, dementia, epilepsy, neuro-oncology, and movement disorders [17]. Clinic Details - The inaugural clinic will be located at the HCA Florida University Medical Office Building in Davie, Florida, with plans for multiple clinics across the U.S. [1][9]. - The clinic will utilize the CareMiBrain™ system, a U.S. FDA-cleared standalone PET scanner that does not require an integrated CT component, resulting in 25% less radiation exposure for patients [3][14]. Market Opportunity - The clinic will address a significant market need, as the current supply of PET/CT scanners is insufficient for the growing demand for Alzheimer's diagnostics and treatment, with 45% of existing scanners primarily used for cancer and cardiac imaging [5][4]. - The Alzheimer's Association reports that nearly 80% of Americans would want to know if they had Alzheimer's Disease before symptoms appear, indicating a strong demand for early detection services [7]. Business Strategy - Algernon plans to collaborate with neurologists, geriatricians, and primary care physicians to generate patient referrals for brain PET scans, while also marketing directly to the 50+ population to raise awareness about early detection and management of Alzheimer's Disease [6]. - The company has signed a definitive equipment order and financing agreement with Catalyst MedTech for the provision of four CareMiBrain™ systems, valued at over CAD $4 million, to support its clinic expansion [8]. Technology Features - The CareMiBrain™ system features advanced technology for high-quality imaging, ergonomic design for patient comfort, and is optimized for brain diagnostics, providing a spatial resolution of 1.6 mm [12][16].

Core Viewpoint - Algernon Health Inc. is set to open its first brain PET scanning clinic in the U.S., targeting early detection of Alzheimer's Disease and other neurological conditions, with plans for multiple locations across the country [1][2]. Company Overview - Algernon Health Inc. is a Canadian healthcare company focused on brain-specific PET scanning services for early-stage detection of Alzheimer's Disease, dementia, epilepsy, neuro-oncology, and movement disorders like Parkinson's disease [16]. - The company has a subsidiary, Algernon NeuroScience, which is advancing a psychedelic program for stroke and traumatic brain injury recovery [16]. Clinic Details - The inaugural clinic will be located at the HCA Florida University Medical Office Building in Davie, Florida, with a five-year lease and an option for renewal [1]. - The clinic will utilize the CareMiBrain™ system, a standalone diagnostic PET scanner that reduces radiation exposure by 25% compared to traditional PET/CT scanners [3][13]. Market Opportunity - The clinic will be the first in the U.S. to provide brain-dedicated PET scans, which are covered by Medicare, Medicaid, and private insurance for patients aged 65 and older [2]. - There is a significant market opportunity for brain-specific PET scans due to the recent approval of monoclonal antibody treatments for Alzheimer's Disease, which require a positive beta-amyloid brain scan for patient authorization [4]. - The current supply of PET/CT scanners is insufficient to meet the growing demand for Alzheimer's diagnostics, as 45% of existing scanners are primarily used for cancer and cardiac imaging [5]. Business Strategy - The company plans to collaborate with local neurologists, geriatricians, and primary care physicians to generate patient referrals for brain PET scans [6]. - Direct marketing efforts will target the 50+ population to raise awareness about the benefits of early detection and management of Alzheimer's Disease [6]. - Recent findings indicate that nearly 80% of Americans would prefer to know if they have Alzheimer's Disease before symptoms appear, highlighting the demand for early diagnostic services [7]. Equipment and Technology - Algernon has signed a definitive equipment order with Catalyst MedTech for four CareMiBrain™ systems, valued at over CAD $4 million, with plans for additional systems for future clinics [8]. - The CareMiBrain™ system features advanced technology for high-quality imaging and patient comfort, including ergonomic design and fast acquisition times [15]. Location and Demographics - The flagship clinic in Davie, Florida, is strategically located within a 60-mile radius of over 6.4 million people, including 2.5 million aged 50 and over, providing access to a key target market for brain PET scan services [9].

Core Viewpoint - Algernon Health Inc. is conducting a non-brokered private placement to raise gross proceeds of $500,000 through the issuance of units priced at $0.07 each, aimed at advancing its Alzheimer's Disease program and other operational needs [1][5]. Group 1: Offering Details - The offering consists of units, each comprising one Class A common share and one-half common share purchase warrant, with a full warrant allowing the purchase of one common share at an exercise price of $0.15 for 12 months [2]. - The exercise price of the common warrants will increase to $0.25 after the first anniversary and to $0.50 after the second anniversary of the issuance date [2][3]. - The offering is expected to close in tranches by November 30, 2025, with potential cash finder's fees of up to 8% of the proceeds [4]. Group 2: Use of Proceeds - Proceeds from the offering will be utilized to advance the company's Alzheimer's Disease program, cover general and administrative expenses, and for working capital purposes [5]. Group 3: Share Structure and Securities - The company has converted 1,268,334 subscription receipts into Series 1 preferred shares and issued additional preferred shares and warrants related to previous placements and acquisitions [7]. - The Series 1 preferred shares carry a 10% annual dividend and are convertible into ten Class A common shares, with voting rights [9]. Group 4: Company Overview - Algernon Health focuses on brain-specific PET scanning services for early-stage detection of Alzheimer's and other neurological conditions, and is advancing a psychedelic program for recovery from stroke and traumatic brain injury [10].

Core Points - Algernon Pharmaceuticals Inc. held its annual and special meeting of shareholders, where a resolution to alter the company's authorized share structure to include an unlimited number of Preferred Shares was approved with over 93% of votes in favor [1] - The Series 1 Preferred Shares will offer a ten percent annual dividend and are convertible into ten Common Shares without payment [2] - The company plans to issue a total of 450,000 Preferred Shares and 450,000 Preferred Warrants related to a recent acquisition, along with 1,268,334 Preferred Shares and 634,167 Preferred Warrants from a private placement [2] - All five nominees for the board of directors were elected with over 95% of votes in favor [3] - The company intends to change its name to Algernon Health Inc. to reflect its focus on Alzheimer's Disease diagnostics and plans to establish specialized neuroimaging clinics across North America [4] Company Overview - Algernon Pharmaceuticals is focused on brain-specific PET scanning services for detecting Alzheimer's disease and other neurological conditions, and is also advancing a psychedelic program for stroke and traumatic brain injury [5] - The company holds a 20% equity position in Seyltx, a U.S.-based drug development company working on a chronic cough drug called Ifenprodil [5]