Notox Engages Ximedica, a Veranex Company, to Complete the Design of Notox's Technology for USFDA Approval

Richmond Hill, Ontario--(Newsfile Corp. - December 15, 2021) - Notox Technologies Corp. (OTC: NTOX) ("Notox" or the "Company") is pleased to announce that the Company has engaged Ximedica, a Veranex company, to complete the design of the Notox apparatus in anticipation of seeking USFDA approval for the product. Through an agreement with Ximedica, Notox will gain direct access to Ximedica's team consisting of more than 1,000 experts in end-to-end medical device development, including but not limited to product design, usability, engineering and manufacturing solutions.

Pursuant to the agreement, which is dated as of December 8, 2021, Notox and Ximedica will work towards expediting the completion of the Notox apparatus design, with the aim of permitting Notox to file for USFDA 510(k) approval shortly thereafter. The agreement provides that Ximedica will bill Notox for each phase of development completed by Ximedica on a "cost-plus" basis, with the exact amounts to be determined by the parties in consultation with one another.

Since May 2021, Notox has been working with RQM+, a global consulting agency with U.S. headquarters, on the Company's regulatory strategy and filing needs. RQM+ originally recommended Ximedica to the Company as a potential partner.

"We are thankful that the team at RQM+ was able to introduce us to Ximedica, a leader in the medical device development field," commented Zoran Konević, the Company's Chief Executive Officer. "After identifying Ximedica as the ideal service provider, we were able to negotiate an equitable arrangement and we are now eager to commence the final design and FDA approval process before initiating the commercialization of the Notox technology. Together with our partners at the Cleveland Clinic Institute, we recognize the importance of this phase and are prepared to perform any tasks required to carry it to completion."

"Teaming up with RQM+ and Ximedica and having access to the innovations of the Cleveland Clinic, as needed, will enable us to utilize best-in-class knowledge and ultimately achieve our goals."

In addition, Notox is pleased to announce that the Company has appointed Mr. Konević as its Chairman and created a new Medical Advisory Board with the goal of attracting some of the best minds in the world of bioscience, dermatology and minimally invasive aesthetics. The Company is currently involved in negotiations with several prominent medical professionals to join the Board, and once the particulars of the appointments have been finalized, will disclose the material details in a separate news release.

About Notox Technologies Corp.

Notox Technologies Corp. (OTC: NTOX) is in the business of developing and commercializing innovative technologies primarily through its wholly owned Nevada subsidiary Notox Bioscience Inc. The Company is seeking to build its distribution capabilities for medical and aesthetic products around the world, and to market a credible, non-toxic alternative to Botox and subsequently develop other features of its Notox technology such as drug-free pain management, body countering, skin tightening and anti-perspiration.

About Ximedica, a Veranex Company

Veranex is the only truly comprehensive, global, tech-enabled service provider dedicated to the medical technology industry. Offering expert guidance from concept through to commercialization and across the development continuum, Veranex enables accelerated speed to market, controlled development costs, development risk mitigation, and accelerated market viability assessment. At every stage, Veranex customers realize efficiencies in cost and time while its integrated and comprehensive solutions unify the entire development process. For more information, visit VeranexSolutions.com.

For more information, please contact:

Zoran Konević - CEO
(519) 421-1900
info@hellonotox.com

Kristin M. Simoens - Senior Vice President of Business Development
(401) 330-3163
ksimoens@ximedica.com

Safe Harbor Statement and Forward-Looking Statements

This news release may contain forward-looking statements that involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, investors should not place undue reliance on these forward-looking statements. Such statements may include, but are not limited to, information related to: anticipated operating results; relationships with customers and strategic partners; consumer demand; financial resources and condition; the ability to list any securities for trading on a recognized exchange; changes in revenues; changes in profitability; changes in accounting treatment; changes in management; cost of sales; selling, general and administrative expenses; interest expense; the ability to produce the liquidity or enter into agreements to acquire the capital necessary to continue operations and take advantage of opportunities; and legal proceedings and claims. Except as required by law, the Company assumes no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107794