Dr. Lior Shaltiel reports

NUREXONE STRENGTHENS U.S. MANUFACTURING STRATEGY THROUGH EXO-TOP SUBLICENSE AGREEMENT

Nurexone Biologic Inc.'s two wholly owned subsidiaries, Exo-Top Inc. and Nurexone Biologic Ltd., have entered into a sublicence agreement. Under the Exo-Top sublicence, Nurexone Ltd. has granted Exo-Top certain rights under an exclusive worldwide development and commercialization licence with Technion Research and Development Foundation Ltd. and Ramot, Tel Aviv University's technology transfer company, entered into on June 23, 2020, and subsequently amended.

The sublicence further establishes Exo-Top's role in Nurexone's U.S. strategy, and is intended to support future manufacturing, development and commercial activities for naive exosomes in the United States. Moreover, the company believes the Exo-Top sublicence enhances strategic flexibility in a key market.

Dr. Lior Shaltiel, chief executive officer of Nurexone, said: "The Exo-Top sublicence represents an important step in building Exo-Top as a key part of Nurexone's long-term U.S. strategy. By providing Exo-Top with licensed rights, we are aligning our corporate structure with our plans to support future manufacturing, development and commercialization in North America."

Pursuant to the tech licence, the company is obligated to pay TRDF certain royalty fees upon reaching phase 2 of clinical trials and additional royalties on commercialization. No monetary consideration was paid by Exo-Top to Nurexone Ltd. in connection with the Exo-Top sublicence. Accordingly, the company does not expect any sublicence fees to be payable to TRDF in connection with the execution of the Exo-Top sublicence.

About Nurexone Biologic Inc.

Nurexone is a TSX Venture Exchange-, OTCQB- and Frankfurt-listed biotech company focused on developing regenerative exosome-based therapies for central nervous system injuries. Its lead product, ExoPTEN, has demonstrated strong preclinical data supporting clinical potential in treating acute spinal cord and optic nerve injury. Regulatory milestones, including obtaining the orphan drug designation, facilitate the road map toward clinical trials in the United States and Europe. Commercially, the company is expected to offer solutions to companies interested in quality exosomes and minimally invasive targeted delivery systems for other indications. Nurexone has established Exo-Top, a U.S. subsidiary, to anchor its North American activity and growth strategy.

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