NurExone Expands ExoPTEN Patent Coverage

TORONTO and HAIFA, Israel, July 29, 2024 - NurExone Biologic Inc., a leading biopharmaceutical company listed under the TSXV: NRX, OTCQB: NRXBF, and Germany: J90, has announced a significant development in its intellectual property portfolio. The Israel Patent Office issued a Notice of Allowance for an ExoPTEN patent, which covers innovative Extracellular Vesicles (EVs) containing a phosphatase and tensin homolog (PTEN) inhibitor. These EVs aim to enhance nerve growth and regeneration following acute spinal cord injuries by inhibiting the PTEN protein.

The patent, titled “Vesicles Comprising a PTEN Inhibitor and Uses of Same,” was initially submitted by the Technion Research and Development Foundation Ltd. and Ramot at Tel Aviv University Ltd. This patent is the first one that NurExone has licensed from Technion and represents a foundational element in the development of the company's ExoPTEN nanodrug, which is designed to treat acute spinal cord injuries.

Dr. Lior Shaltiel, CEO of NurExone, commented on the achievement, stating, “This patent is a crucial part of the ExoPTEN family within our broad intellectual property portfolio. It is exclusively licensed worldwide from the Technion. We are making strides with ExoPTEN, advancing it towards human clinical trials and eventual commercialization. Encouraging results from a small glaucoma study have reinforced the regenerative potential of ExoPTEN, strengthening our belief in its therapeutic capabilities.”

In addition to the patent news, NurExone has entered into a consulting agreement with Allele Capital Partners, LLC, a U.S.-based capital markets advisory firm. Under this agreement, Allele Capital will provide investor relations services, including capital markets consultation, corporate video dissemination on social media, social engagement reporting, and other related tasks. The consulting agreement involves a monthly advisory fee of US$11,000, which will increase to US$14,500 if NurExone uplists to the New York Stock Exchange (NYSE) or the National Association of Securities Dealers Automated Quotations (NASDAQ). The initial term of the agreement is one month, but it can be extended monthly by mutual consent and terminated with a 30-day written notice by either party.

Allele Capital has no current, direct, or indirect interest in NurExone Biologic or any related securities. The two companies are separate and unaffiliated entities.

NurExone Biologic Inc. is a pharmaceutical company listed on the TSXV, focusing on developing biologically-guided exosome-based therapies for non-invasive treatment of Central Nervous System injuries. The company's leading product, ExoPTEN, has shown promise in preclinical trials, with 75% of laboratory rats recovering motor function when the drug was administered intranasally. ExoPTEN has received Orphan Drug Designation from the FDA, highlighting its potential for treating rare medical conditions. NurExone's platform technology is expected to provide novel, non-invasive targeted drug delivery solutions for various medical indications.

Through these advancements, NurExone Biologic aims to pioneer new frontiers in regenerative medicine and drug delivery, offering innovative therapies for patients suffering from severe injuries and potentially transforming the landscape of neurological treatment. The company's progress in securing key patents and engaging strategic consulting services underscores its commitment to advancing its research and bringing its products closer to commercialization.