NurExone and Inteligex Kick Off Chronic Spinal Cord Injury Research for Multi-Billion Dollar Healthcare Market
TORONTO and HAIFA, Israel, Jan. 17, 2024 (GLOBE NEWSWIRE) — NurExone Biologic Inc. (TSXV: NRX) (FSE: J90) (NRX.V) (the “Company” or “NurExone”), a biopharmaceutical company developing biologically-guided exosome therapy for patients with traumatic spinal cord injuries, is pleased to share several updates.
The collaborative agreement between NurExone and Inteligex Inc. (“Inteligex”), announced in October 2023, to expand the Company’s portfolio, is now officially underway. This collaboration, aimed at combining Inteligex’s more than twenty years of experience in cell-based therapies and NurExone’s innovative exosome platform to develop therapies for patients with chronic spinal cord injuries, was approved for grant funding, to be disbursed over the course of the next two years, by the Israel-Canada bilateral Eureka program.
Dr. Lior Shaltiel, CEO of NurExone, expressed his excitement about the kick-off of this project stating, “This collaboration reiterates the importance and utility of the ExoTherapy platform in developing drug delivery systems of the future. As part of this collaboration, we will use our platform to produce and load exosomes from Inteligex’s cell line to deliver combination regenerative therapy for Spinal Cord Injury (SCI) patients. This win-win collaboration will expand our potential markets and is in line with our belief of patient, first.”
Dr. Paul Bradshaw, CEO of Inteligex, stated that “Spinal cord injury is the single most expensive healthcare condition in the world. I believe that a combinatorial multi-faceted approach to treatment of chronic SCI like the one in this project can both make a difference in patient’s lives and save the healthcare system billions of dollars. Moreover, if the therapy has an easy delivery method, we can expand to countries where there is a massive barrier to any therapy or treatment and do a bit of good for humanity.”
NurExone Announces Engagement Agreement with bullVestor
The Company has entered into an agreement (the “Agreement”) with bullVestor Medien GmbH (“BullVestor”) to assist with and enhance awareness of the Company’s products and services using advertising and communications, some of which may constitute investor relations activities pursuant to the policies of the TSX Venture Exchange. The advertising and communications will occur in German-speaking countries (Germany, Austria and Switzerland).
The Agreement is effective for four months from the effective date and the total consideration payable to BullVestor is CAD$300,000 on the effective date. The consideration does not include any securities of the Company. BullVestor does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest. Aside from this engagement, the Company does not have any relationship with BullVestor.
BullVestor is located in Austria.
About NurExone Biologic Inc.
NurExone Biologic Inc. is a TSXV listed pharmaceutical company that is developing a platform for biologically-guided ExoTherapy to be delivered, non-invasively, to patients who suffered traumatic spinal cord injuries. ExoTherapy was conceptually demonstrated in animal studies at the Technion, Israel Institute of Technology. NurExone is translating the treatment to humans, and the company holds an exclusive worldwide license from the Technion and Tel Aviv University for the development and commercialization of the technology.
For additional information, please visit www.nurexone.com or follow NurExone on LinkedIn, Twitter, Facebook, or YouTube.
For more information, please contact:
Dr. Lior Shaltiel
Chief Executive Officer and Director
Phone: +972-52-4803034
Email: info@nurexone.com
Thesis Capital Inc.
Investment Relation – Canada
Phone: +1 905-347-5569
Email: IR@nurexone.com
Dr. Eva Reuter
Investment Relation – Germany
Phone: +49-69-1532-5857
Email: e.reuter@dr-reuter.eu
FORWARD-LOOKING STATEMENTS
This press release contains certain “forward-looking statements”, that reflect the Company’s current expectations and projections about its future results. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements relating to the collaboration project with Inteligex and the grant funding pursuant thereto; the Agreement, the term of the Agreement and the fees payable thereunder. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
In developing the forward-looking statements in this press release, we have applied several material assumptions, including the general business and economic conditions of the industries and countries in which we operate, the general market conditions, the ability to secure additional funding for the collaboration with Inteligex and our ability to work collaboratively with Inteligex.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the Company’s early stage of development, lack of revenues to date, government regulation, market acceptance for its products, rapid technological change, dependence on key personnel, protection of the Company’s intellectual property, dependence on the Company’s strategic partners and the risks discussed under the heading “Risk Factors” on pages 29 to 36 of the Company’s Annual Information Form dated March 30, 2023, a copy of which is available under the Company’s SEDAR+ profile at www.sedarplus.ca. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
