Dr. Lior Shaltiel reports

NUREXONE SECURES EUREKA GRANT FOR COLLABORATIVE PARTNERSHIP TO EXPAND TO CHRONIC SPINAL CORD INJURY THERAPY

Nurexone Biologic Inc. has been awarded a one-million-new-Israeli-shekel (approximately $350,000) grant by the Israel Innovation Authority (IIA) as part of the Israel-Canada bilateral Eureka program.

The grant is for a collaboration with Canada-based Inteligex Inc. to develop an innovative hybrid therapy tailored for the complex chronic spinal cord injury (SCI) market. This endeavour combines Inteligex's established expertise in stem cell treatments with Nurexone's ExoTherapy drug delivery platform. Currently, Nurexone is in the process of developing the ExoPTEN product specifically for acute spinal cord injuries. This collaborative effort opens the possibility for the company to expand its focus to chronic spine injuries.

In acute injuries, immediate cell damage occurs, while chronic injuries trigger a secondary injury cascade in the days, weeks and months following the initial injury. Chronic injuries involve inflammation, cell death and the formation of a cavity within the spinal cord, encased by scar tissue that disrupts nerve signal flow. Consequently, recovering motor function after paralysis induced by chronic injury is exceptionally challenging, and a hybrid therapy may have potential for a significant step forward in this field.

The one-million-new-Israeli-shekel grant for the first year is expected to cover a significant part of the company's total first-year project budget of 2.45 million new Israeli shekels (approximately $850,000). The two-year collaborative partnership with Inteligex has an overall budget of 1.69 million euros.

Dr. Lior Shaltiel, chief executive officer of Nurexone, expressed his excitement about this prestigious grant, stating: "Nurexone aims to lead in functional recovery for both acute and chronic segments of the multibillion-dollar spinal cord injury market. We are honoured to receive the IIA grant after a rigorous project review and are grateful for the support and trust they have placed in us and our excellent partner, Inteligex. This funding will enable us to make strides toward realizing our vision of helping every spinal cord injury patient in need."

Dr. Paul Bradshaw, chief executive officer of Inteligex, stated that he views tremendous synergy between the Nurexone targeted drug delivery system and the experimentally proven stem cell therapy developed by Inteligex. He added that the collaborative alliance has the potential to revolutionize how chronic SCI is treated.

This strategic co-operation underscores Nurexone's commitment to global leadership in the field of exosomes for spinal cord injury and paves the way for expansion of the company's product portfolio. Beyond the substantial patient potential, the grant brings a significant financial injection, which will accelerate the research in the field.

About Nurexone Biologic Inc.

Nurexone Biologic is a TSX Venture Exchange 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 licence from the Technion and Tel Aviv University for the development and commercialization of the technology.

We seek Safe Harbor.