Algernon Pharmaceuticals has acquired NoBrainer Imaging Centers, Inc., enhancing its capabilities in the Alzheimer's Disease diagnostic and treatment market.

Information on the Target

Algernon Pharmaceuticals Inc. has successfully completed the acquisition of NoBrainer Imaging Centers, Inc. (NIC), securing 100% of its issued and outstanding shares as previously announced on May 13, 2025. This strategic acquisition marks a significant expansion for Algernon into the Alzheimer’s Disease (AD) diagnostic and treatment sector, complementing the company's ongoing neurological research initiatives. Through this acquisition, Algernon will gain exclusive rights to establish AD screening, diagnostic, and treatment centers throughout Canada and various U.S. markets.

NIC is a Canadian entity with secured master franchise rights for NoBrainer Alzheimer’s Treatment Centers, Inc. (NATC), encompassing Canadian provinces—except for Oakville and Ottawa—and regions in Florida and Los Angeles, as well as five other major cities across the U.S. NIC benefits from the absence of any initial franchise fees in its territories and holds CAD$250,000 in working capital which includes a deposit for a Positrigo NeuroLF brain-specific PET scanner, expected to be operational in the first U.S.-based clinic by Q4 2025.

Industry Overview in Canada

Canada's healthcare sector is rapidly evolving, particularly in the field of neurodegenerative diseases. Alzheimer’s Disease has garnered increased attention due to a growing aging population and a rise in research investment aimed at understanding and treating the condit