NurExone Biologic Inc. (TSXV: NRX) (FSE: J90) (NRX.V) (the
“
Company” or “
NurExone”), a
biopharmaceutical company developing biologically-guided exosome
therapy (“
ExoTherapy”) for patients with acute
spinal cord injuries (“
SCI”), is thrilled to
announce that the Company has been awarded a 1M New Israeli Shekels
(NIS) (~CAD$350K) 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. (“Inteligex”) to
develop an innovative hybrid therapy tailored for the complex
chronic spinal cord injury market. This endeavor 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 1M NIS grant for the first year is expected
to cover a significant part of the Company’s total first year
project budget of 2.45M NIS (~CAD$850K). The two-year collaborative
partnership with Inteligex has an overall budget of 1.69M
Euros.
Dr. Lior Shaltiel, CEO 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 multi-billion-dollar spinal cord injury market. We
are honored 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, CEO 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 cooperation 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 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.
About Inteligex
Inteligex is a regenerative medicine company,
based in Toronto, Canada, focused on improving clinical outcomes
for patients with conditions affecting the Central Nervous System
(“CNS”). Inteligex has developed a novel targeted
human stem cell platform for the treatment of CNS disease that
replaces key cell types lost due to traumatic injury or
neurodegeneration. Inteligex is tasked with bringing this novel
human stem cell platform to market and clinic for diseases such as
Multiple Sclerosis, Traumatic Brain Injury, Stroke, Amyotrophic
Lateral Sclerosis and its lead indication SCI. Inteligex is built
on a foundation of over 15 years of stem cell research and 30 years
of research into SCI and conditions of the CNS conducted at the
Krembil Research Institute within the University Health
Network.
For additional information, please
visit www.nurexone.com or follow NurExone on LinkedIn,
Twitter, Facebook, or YouTube.
For more information, please
contact:
Dr. Lior ShaltielChief Executive Officer and
DirectorPhone: +972-52-4803034Email: info@nurexone.com
Thesis Capital Inc.Investment Relation -
CanadaPhone: +1 905-347-5569Email: IR@nurexone.com
Dr. Eva ReuterInvestment Relation -
GermanyPhone: +49-69-1532-5857Email: e.reuter@dr-reuter.eu
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking
statements” that reflect the Company’s current expectations and
projections about its future development. When used in this press
release, forward-looking statements can be identified by the use of
words such as “may,” or by such words as “will,” “intend,”
“believe,” “estimate,” “consider,” “expect,” “anticipate,” and
“objective” and similar expressions or variations of such words.
Forward-looking statements are, by their nature, not guarantees of
the Company’s future development or financial performance and are
subject to risks and uncertainties and other factors that could
cause the Company’s actual results, performance, prospects, or
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements. No representation or
warranty is intended with respect to anticipated future results, or
that estimates, or projections will be sustained.
Forward-looking statements are necessarily based
on estimates and assumptions made by us in light of our experience
and perception of historical trends, current conditions, and
expected future developments, as well as the factors we believe are
appropriate. Forward-looking statements in this press release
include, but are not limited to, statements relating to the
development project with Inteligex and the ability to treat chronic
spinal cord injury.
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.
Many risks, uncertainties, and other factors
could cause the actual results of the Company to differ materially
from the results, performance, achievements, or developments
expressed or implied by such forward-looking statements. These
risks, uncertainties, and other factors include, but are not
limited to, the following: those risk factors identified under the
heading “Risk Factors” 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, and other
similar factors that may cause the actual results, performance or
achievements to differ materially from those expressed or implied
in these forward-looking statements. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of the press release or as of the date
otherwise specifically indicated herein. Due to risks and
uncertainties, events may differ materially from current
expectations. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise, except as
required pursuant to applicable securities law.
All forward-looking statements contained in the
press release are expressly qualified in their entirety by this
cautionary statement. 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.
Nurexone Biologic (TSXV:NRX)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Nurexone Biologic (TSXV:NRX)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024