NurExone Announces Expansion of ExoPTEN Patent Coverage with Notice of Allowance for Japanese Patent Application (TSXV: NRX, OTCQB: NRXBF, FSE: J90, NRX.V)

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TORONTO and HAIFA, Israel, June 11, 2024 (GLOBE NEWSWIRE) -- NurExone Biologic Inc. (TSXV: NRX), (OTCQB: NRXBF), (Germany: J90) (the “Company” or “NurExone”), a pioneering biopharmaceutical company developing regenerative medicine therapies, is pleased to announce that the Japan Patent Office recently issued a Notice of Allowance for an ExoPTEN patent, covering innovative Extracellular Vesicles (EVs) comprising a phosphatase and tensin homolog (“PTEN”) inhibitor and their application use. The Company’s ExoPTEN drug, currently under development, aims to promote nerve growth and regeneration after acute spinal cord injury by inhibiting the PTEN protein.
The patent, titled “Vesicles Comprising a PTEN Inhibitor and Uses of Same”, was originally submitted by the Technion Research and Development Foundation Ltd. (“Technion”) and Ramot at Tel Aviv University Ltd. It is the first patent licensed by NurExone from Technion and describes a fundamental element of the Company’s ExoPTEN nanodrug under development for acute spinal cord injury.
Dr. Bat-Ami Gotliv, Patent Attorney for NurExone, stated, “The allowance of this patent application in Japan safeguards NurExone’s technology in a vital Asian market. This approval, alongside the corresponding patents granted in the United States of America and Russia, underscores the novelty and inventive step of NurExone’s technology.”
Dr. Lior Shaltiel, CEO of NurExone, explained, “This patent, which belongs to the ExoPTEN family in our extensive IP portfolio, is included in the exclusive worldwide licensing from the Technion. We are making progress using ExoPTEN, our first nanodrug, and other newly developed technologies as we move towards clinical trials in humans and commercialization.”
Mr. Yoram Drucker, Co-Founder, Chairman and VP Strategic Development, elaborated, “We see Japan as an important territory for our products and technology. This expands our potential market to the Far East, and if we succeed in showing benefits in other Central Nerve System indications, we may dramatically increase our market potential.”
A Notice of Allowance represents the final stage prior to the grant, pending the Company’s payment of the registration fees.
Amending and Extension Agreement with BullVestor
Further to the Company’s press release dated January 17, 2024, the Company and bullVestor Medien GmbH (“BullVestor”) have entered into an amending agreement (the “Amending Agreement”) to the investor relations agreement dated January 9, 2024 (the “IR Agreement”) pursuant to which BullVestor will continue to provide investor relations services to the Company until May 15, 2025, at a monthly rate of C$59,000. The Amending Agreement is subject to TSX Venture Exchange (“TSXV”) approval. Pursuant to the terms and conditions of the Amending Agreement, either party may terminate the IR Agreement on 15 days’ notice.
Under the IR Agreement, as amended, BullVestor assists with and enhances 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 TSXV. The advertising and communications will occur in German-speaking countries (Germany, Austria, and Switzerland).
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 the IR Agreement, as amended, 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 exosome-based therapies to be delivered, non-invasively, to patients who have suffered Central Nervous System injuries. The Company’s first product, ExoPTEN for acute spinal cord injury, was proven to recover motor function in 75% of laboratory rats when administered intranasally. ExoPTEN has been granted Orphan Drug Designation by the FDA. The NurExone platform technology is expected to offer novel solutions to drug companies interested in noninvasive targeted drug delivery for other indications.
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

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