Pharmaceutical company to launch imaging center chain focused on Alzheimer’s disease

A Canadian drug company on Tuesday announced plans to launch a new imaging center chain focused on Alzheimer’s disease in the U.S. 

Vancouver-based Algernon Pharmaceuticals Inc. will establish both company-owned clinics, along with selling franchise licenses. This will allow for “rapid expansion” of the business model throughout Canada, Florida and Los Angeles, and five “strategic cities” in other American states. 

To facilitate the move, Algernon is acquiring a small Canadian company called NoBrainer Imaging Centers Inc. The new outpatient clinics will offer infusion services for Alzheimer’s drugs Kisunla and Leqembi, along with positron emission tomography (PET) imaging scans to confirm the presence of amyloid plaques—a hallmark of this form of dementia. 

“The concept of building Alzheimer’s disease-focused diagnostic and treatment clinics that offer a comprehensive package of medical services—including AD screening, brain specific PET scan imaging, and multiple treatment options—is a unique and exciting approach to help fight this devastating disease,” Christopher J. Moreau, CEO of Algernon Pharmaceuticals, said in an announcement May 13. “This acquisition marks a transformative step for Algernon to become a comprehensive global healthcare partner in the battle against Alzheimer’s disease and related cognitive disorders, while strengthening the company’s valuation.”

Algernon plans to open the first company-owned, flagship Alzheimer’s clinic in Florida in the fourth quarter of 2025. After completing the initial setup, it will scale operations with another 10 owned sites in 2026 and 10 more franchised locations “in cities and states to be announced.” 

Its providers will utilize the NeuroLF, a dedicated brain PET system from Swiss firm Positrigo, cleared by the U.S. Food and Drug Administration last year. Algeron described the technology as “ultracompact,” incorporated into a “comfortable, dental-styled, clinical chair that can perform the same brain scanning functions of traditional PET scanners in hospitals.” In addition, the new Alzheimer’s imaging centers will deliver other related services such as genetic screening, cognitive function and blood testing, and nutrition and wellness counseling. Prior to receiving AD treatment, patients must undergo a final confirmatory test for plaque, either via PET or spinal tap. 

Founded in 2015, Algernon Pharmaceuticals is a development and repurposing company focused on finding new therapeutic uses for existing drugs. It often pinpoints products that are already approved but haven’t been marketed in the U.S. or Europe. Moreau and colleagues at the publicly traded company said their focus with this new imaging venture is to deliver “near term cash flow and profitability” by capitalizing on the growing need for PET imaging. Algernon also will continue to maintain its current drug development programs, including work on restoring brain function following a stroke or traumatic injury. 

In the U.S. alone, there are 7 million people living with the AD, a number expected to nearly double by 2050, according to the Alzheimer’s Association. This will spell the need for millions of PET scans to diagnose and monitor the disease. In addition, the Centers for Medicare & Medicaid Services in 2023 eliminated policy that limited AD patients to only one beta-amyloid PET scan per lifetime, “further dramatically increasing the size” and potential of the market. Over 100 AD drugs are now under development, Algernon added, presenting more opportunity to provide PET services to drug developers engaged in clinical trials. Plus, the company sees opportunity for further expansion using the imaging system to diagnose other forms of dementia, epilepsy, and movement disorders. 

Algernon is acquiring 100% of the shares of NoBrainer Imaging Centers as part of the deal. The acquiree—which does not appear to have a website nor social media presence—has over $179,000 (USD) in working capital, including a deposit on a Positrigo NeuroLF PET machine targeted for delivery at the first U.S. clinic in Q4. 

The PET scanner is not currently approved for commercial use in Canada, nor are the two antibody therapy treatments from Eli Lily, and Eisai/Biogen. Algernon said initial locations in the Great White North will run as “NoBrainer Alzheimer’s Treatment Centers,” delivering the same ancillary services without imaging or infusions. Algernon said the seller plans to franchise the Alzheimer’s diagnostic and treatment clinic concept “globally, which Algernon may come to participate in as well.” Algernon said the deal will give it exclusive rights to the Canadian market (except for Oakville and Ottawa, Ontario), Florida (excluding Miami), Los Angeles, and five more yet-to-be named major U.S. cities. 

The company did not immediately respond to a Radiology Business request for further information about the transaction late Tuesday. Those involved noted that the deal is still subject to approval by shareholders and the Canadian Stock Exchange.