Dr. Adam Rogers reports

NERVGEN ANNOUNCES LEADERSHIP TRANSITION TO SUPPORT STRATEGIC GROWTH AND EXPANSION

Nervgen Pharma Corp. has undergone a leadership transition as the company enters the next phase of development for its first and potential best-in-class candidate, NVG-291.

President and chief executive officer Mike Kelly has stepped down as a director and officer of the company, and Dr. Adam Rogers, chair of the board and representative of Nervgen's largest shareholder, has been appointed interim CEO.

"We are deeply grateful to Mike for his exceptional leadership during a pivotal time for Nervgen," said Dr. Adam Rogers, chairman and interim CEO of Nervgen. "Under Mike's guidance, the company advanced NVG-291 through landmark proof-of-concept top-line results from the chronic cohort of the Connect SCI study. Mike's leadership established the organizational framework needed for future growth and set a clear strategic direction to position Nervgen one step closer to addressing its mission of transforming the lives of individuals living with spinal cord injury.

"The chronic cohort of the Connect SCI study represents the strongest signal of efficacy observed to date in spinal cord injury," Dr. Rogers added. "We are entering the most exciting and important phase in Nervgen's history and are committed to pro-actively engaging with regulators and the SCI community to advance NVG-291 toward its full potential."

Regarding his departure, Mr. Kelly commented: "It's been an honour to lead Nervgen during a pivotal time of clinical and operational growth. I'm proud of the team we've built and the opportunity to successfully advance NVG-291 through an unprecedented proof-of-concept efficacy trial in chronic spinal cord injury. With positive data in hand, Nervgen is well positioned for future growth. I remain a strong advocate of the company and its mission to redefine the standard of care in spinal cord injury."

The leadership transition comes as Nervgen continues to analyze data from the chronic cohort of the Connect SCI study in preparation for sharing additional insights and engaging in regulatory discussions.

About NVG-291

Nervgen holds exclusive worldwide rights to NVG-291, a first and potential best-in-class therapeutic peptide targeting nervous system repair. NVG-291's technology is licensed from Case Western Reserve University and is based on academic studies that demonstrated the preclinical efficacy of NVG-291-R, the rodent variant of NVG-291, in animal models of spinal cord injury. These studies implicated multiple potential molecular and cellular mechanisms by which NVG-291-R promotes neurorepair and functional improvement in both central and peripheral nervous system injury models. The implicated mechanisms include the promotion of neuronal sprouting, or plasticity, remyelination and promotion of a non-inflammatory phenotype in the microglial cells. Nervgen has received fast-track designation from the Food and Drug Administration and orphan designation from the EMA for NVG-291 in individuals with spinal cord injury.

About Nervgen Pharma Corp.

Nervgen is a clinical-stage biotechnology company dedicated to developing innovative therapies to promote nervous system repair in settings of neurotrauma and neurologic disease. The company is testing the clinical efficacy of its lead candidate, NVG-291, in the phase 1b/2a Connect SCI study clinical trial in spinal cord injury. Top-line data from the chronic cohort (one to 10 years postinjury) of this trial showed that NVG-291 met its primary end point and demonstrated strong trends in functional assessments.

Continued analysis of data from the chronic cohort is continuing. Enrolment in the subacute cohort (20 to 90 days postinjury) of the trial continues, and more information about participation in the subacute study is available at the Connect website. In addition, the company has initiated preclinical testing of concept evaluation of its pipeline candidate, NVG-300, in models of ischemic stroke and spinal cord injury.

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