Alpha Cognition Announces Director Change and Stock Option Grant
December 27, 2021
VANCOUVER, B.C., December 27, 2021. Alpha Cognition Inc. (TSX-V: ACOG) (OTCQB: ACOGF) (“Alpha Cognition”, or the “Company”), a biopharmaceutical company committed to developing novel therapies with the potential to transform the lives of people with debilitating neurodegenerative disorders, today announced the resignation of Dr. Fred Sancilio from his role as Director and President of the Company. Dr. Sancilio will continue to work with Alpha Cognition as a consultant focusing on ALPHA-1062’s bioequivalence program.
Len Mertz, the Company’s Chairman commented: “We are grateful for Fred's efforts in bringing the Company to this stage of development, his contributions and advice are appreciated, and we look forward to his ongoing support, focused on ALPHA-1062 and our planned New Drug Application (“NDA”) with the U.S. FDA.”
As announced in our news release on December 2, 2021, Dr. Cedric O’Gorman, the Company’s Chief Medical Officer will continue to lead the patient tolerability trial for ALPHA-1062, while assuming other responsibilities from Dr. Sancilio. Dr. O’Gorman commented: “We are accelerating the ALPHA-0602 progranulin pre-clinical study and are on track to release data in the first quarter of 2022. The Company is also excited to complete a pivotal relative bioavailability study of ALPHA-1062, a proprietary, delayed release oral tablet formulation designed to treat mild to moderate Alzheimer’s Disease. This single set of trials, if successful, will allow the Company to submit an NDA for ALPHA-1062 in the second half of 2022.”
The Company further announces the grant of an aggregate of 2,340,000 stock options (“Options”) to certain directors (940,000 stock options) and officers (1,400,000 stock options) of the Company pursuant to the Company’s stock option plan. Each Option is exercisable to acquire one common share of the Company at a price of $1.12 CAD per common share until December 20, 2031, and will be subject to vesting conditions.
About Alpha Cognition Inc.
Alpha Cognition Inc. is a clinical stage, biopharmaceutical company dedicated to developing treatments for under-served neurodegenerative diseases, such as Alzheimer's Dementia and Amyotrophic Lateral Sclerosis (ALS).
ALPHA-1062, is a patented new chemical entity that has demonstrated safety and improved tolerability in human clinical trials. It is being developed as a new generation acetylcholinesterase inhibitor for the treatment of Alzheimer's disease, with minimal gastrointestinal side effects and novel routes of administration. ALPHA-1062's active metabolites are differentiated from donepezil and rivastigmine in that they may sensitize neuronal nicotinic receptors, most notably the alpha-7 subtype, which is known to have a positive effect on cognition. ALPHA-1062 is also being developed in combination with memantine to treat moderate to severe Alzheimer's dementia and in a nasal spray formulation to treat traumatic brain injury.
ALPHA-0602 (Progranulin) is expressed in several cell types in the central nervous system and in peripheral tissues, regulates cell survival and certain inflammatory processes, and plays a major role in regulating lysosomal function and microglial responses to disease. Its use for the treatment of neurodegenerative diseases has been patented by the Company and granted an Orphan Drug Designation.
For further information:
Michael McFadden, CEO
Bristol Investor Relations
905 326 1888 ext 6
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