NervGen Pharma Reports Annual Shareholders Meeting Results

NervGen Pharma Corp., a clinical-stage biotechnology company focused on creating treatments for nervous system damage, recently held its Annual General Meeting of Shareholders (AGM) on June 4, 2024. The company, based in Vancouver, British Columbia, shared significant updates and achievements from the meeting.

Mike Kelly, NervGen's President & CEO, expressed gratitude for the shareholders' support during the AGM. He highlighted the election of Glenn Ives as the new Chair of the Board by his fellow Board members. Ives' extensive experience, including his past role as Chair of Deloitte Canada and the Deloitte Global Risk Committee, positions him well to lead NervGen's board during its next phase of clinical advancements.

Additionally, John Ruffolo was appointed as the Chair of the Audit Committee. Ruffolo brings a wealth of experience as the Founder and Managing Partner of Maverix Private Equity and OMERS Ventures, along with his status as a Fellow of the Chartered Professional Accountants. His expertise is anticipated to significantly contribute to NervGen's growth and financial oversight.

During the AGM, shareholders re-elected several key individuals to the Board of Directors. These include Brian Bayley, Harold Punnett, Randall Kaye, Krista McKerracher, Glenn Ives, Craig Thompson, Adam Rogers, John Ruffolo, and Michael Kelly. These directors will serve until the next annual meeting or until their successors are duly elected or appointed.

The shareholders also approved the appointment of KPMG LLP, Chartered Accountants, as the auditors for the company until the next annual meeting. Furthermore, certain amendments to the company's existing stock option plan were approved, including an increase in the number of shares reserved for issuance.

NervGen is dedicated to developing innovative treatments that enable the nervous system to repair itself after damage caused by injury or disease. The company's lead drug candidate, NVG-291, is in a Phase 1b/2a clinical trial targeting spinal cord injury. NVG-291 is a first-in-class therapeutic peptide designed to disrupt mechanisms that prevent nervous system repair. Derived from the intracellular wedge domain of the receptor type protein tyrosine phosphatase sigma (PTPσ), NVG-291 has demonstrated promising results in animal models of spinal cord injury, peripheral nerve injury, multiple sclerosis, and stroke. These results include enhanced plasticity, axonal regeneration, and remyelination.

NVG-291 has received Fast Track Designation from the U.S. Food and Drug Administration (FDA) for its application in treating spinal cord injury, underscoring its potential to address a significant unmet medical need.

NervGen continues to focus on advancing its clinical programs and exploring new opportunities for its innovative therapeutic approaches. The company's emphasis on board leadership and financial oversight, demonstrated by the appointments of Ives and Ruffolo, reflects its commitment to executing its strategic goals effectively.

Overall, the AGM provided a platform for NervGen to reinforce its mission and vision to shareholders, while also sharing the progress and strategic appointments that position the company for future success in developing groundbreaking treatments for nervous system damage.

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