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Algernon Health (CSE:AGN, OTCQB:AGNPF, FRA:AGW0) said on Wednesday it plans to change its corporate name to Grey Matters Health Inc, reflecting a strategic shift toward brain health and the growing Alzheimer’s disease diagnostics market.
The company has reserved the new ticker symbol “GREY” with the Canadian Securities Exchange. Algernon said updated symbols for its US and Frankfurt listings will be announced later.
The rebrand is intended to underscore Algernon’s expansion into neurodegenerative disease diagnostics, particularly Alzheimer’s disease, following its entry into the sector in 2025.
Algernon is developing a network of specialized brain imaging centers under its NovaScan Neuroimaging Clinics brand. The company said its first US site is planned at the HCA University Medical Office Building on the campus of HCA Florida University Hospital.
The name “Grey Matters” references grey matter tissue in the brain and highlights the company’s focus on cognitive health and neurological conditions.
In connection with the name change, Algernon said it expects to provide additional details soon on the official opening of its first imaging clinic, including timelines for patient referrals and the start of PET scan services.
Algernon said it will continue to advance its legacy drug development programs alongside its diagnostics push. These include research into N,N-Dimethyltryptamine (DMT) for stroke and traumatic brain injury, as well as Repirinast, a repurposed drug targeting chronic kidney disease and inflammation linked to cognitive decline.
The company also retains a 20% stake in Seyltx Inc, which is developing Ifenprodil for chronic cough. Algernon previously sold the drug for $2 million plus the equity interest.
In conjunction with the name change, Algernon plans a 10-for-1 consolidation of its common shares. The company said the move would reduce the number of outstanding shares to about 5.4 million from roughly 54.2 million, before adjustments for fractional shares.
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