NurExone Announces Letter of Intent for International Strategic Collaboration with denovoMATRIX Towards Large-Scale Exosome Production

Calgary, Alberta, Canada and Dresden, Germany--(Newsfile Corp. - September 7, 2022) - NurExone Biologic Inc. (TSXV: NRX) (FSE: J90) (the "Company" or "NurExone"), a biopharmaceutical company developing biologically-guided exosome therapy for patients with traumatic spine injuries, is pleased to announce that the Company has entered into a letter of intent (the "Letter of Intent") with denovoMATRIX GmbH, a leading German-based developer of innovative technologies which enable cell therapies ("denovoMATRIX").

Under the Letter of Intent, NurExone will explore collaborations with denovoMATRIX to use its advanced screenMATRIX platform to develop specialized coatings for NurExone's cell carriers for exosome production in order to optimize the manufacturing processes of the non-invasive NurExone's ExoTherapy. The primary aim of the collaboration is to develop a mutually beneficial supply agreement, whereby denovoMATRIX will develop and provide technologies enabling large-scale exosome production.

Exosomes are best defined as extracellular vesicles (EVs) that have emerged as promising nanocarriers for drug delivery and targeted therapy, as alternatives to stem cell therapy. EVs are endosome-derived small membrane vesicles, approximately 30 to 150 nm in diameter, and are released into extracellular fluids by cells in all living systems. They are well suited for small functional molecule delivery, and increasing evidence indicates that they have a pivotal role in cell-to-cell communication.

NurExone's ExoTherapy uses proprietary exosomes as biologically-guided nanocarriers to deliver specialized therapeutic compounds to target areas. The delivered molecules promote an environment that induces a healing process at the target location. For its first clinical indication of providing recovery of function to traumatic spinal cord injury (SCI) patients, NurExone will use modified siRNA sequences as the delivered therapeutic molecules.

ExoTherapy is as promising as a revolutionary, intranasal "off-the-shelf" product to treat traumatic Spinal cord injuries as well as damage to the Brain and other Central Nervous System indications. In preclinical animal studies with a fully transected spinal cord, intranasal administration of ExoPTEN led to significant motor improvement, sensory recovery, and faster urinary reflex restoration.

"We chose to explore a collaboration with denovoMATRIX, an innovation leader known for its technology that enables cell manufacturing in higher quality, quantity, and safety," said Dr. Lior Shaltiel, CEO of NurExone. "With the large-scale manufacturing of our ExoTherapy elements, NurExone will be well positioned to serve patients from clinical trials to commercial production."

Dr. Dejan Hušman, CEO of denovoMATRIX, commented, "We are delighted to pursue a partnership with NurExone, a global innovator in the field of small extracellular vesicles to advance their pipeline, starting with ExoPTEN for spinal cord injuries. A collaboration relationship brings together all of denovoMATRIX's unique capabilities: our expertise in human mesenchymal stromal cells, cell expansion and proprietary biomaterials technology.''

The Letter of Intent sets out a mutually acceptable work plan for the provision of matrix optimization services and the supply of coating technology to NurExone (the "Work Plan"). Following successful execution of the Work Plan by the parties, it is intended that denovoMATRIX will supply coated cell culture consumables to NurExone for the purposes of testing and the optimization of NurExone's manufacturing process. NurExone will perform experiments using denovoMATRIX coated cell culture consumables, share all date generated in the scope of the collaboration project with denovoMATRIX and measure the efficacy of the technologies. Pursuant to the Letter of Intent, denovoMATRIX also intends to supply products to NurExone within Q3 of 2022 and the parties agreed to make commercially reasonable efforts to enter into a service/supply agreement by Q3 of 2023.

About denovoMATRIX GmbH

denovoMATRIX deploys a modular, biomimetic coating technology to enable high performance cell culture, bringing cell therapies to patients and accelerating the path to market for clean meat. The company leverages chemical synthesis, stem cell biology and design thinking to build a platform of biomaterials which address major life science challenges. By providing both cell-based therapy and clean meat companies with solutions, denovoMATRIX is at the forefront of innovation in cell manufacturing processes. Reference clients include for example Saint-Gobain and GSK. For more information, visit: www.denovomatrix.com

Contact:

Dr. Dejan Hušman
CEO & Co-Founder
Phone: +49 351 8547-7890
Email: mail@denovomatrix.com

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 for the development and commercialization of the technology.

For additional information, please visit www.nurexone.com or follow NurExone on LinkedIn, Twitter, Facebook, or YouTube.

For more information, please contact:

Dr. Lior Shaltiel
Chief Executive Officer and Director
Phone: +972-52-4803034
Email: lior@nurexone.com

For investors:
Investor Relations
IR@nurexone.com
+1 905-347-5569

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements, including statements about the Company's future plans, the entering into a Work Plan following the Letter of Intent or a service/supply relationship with denovoMATRIX and the potential development activities to be carried out pursuant to the Work Plan and potential service/supply relationship, if entered into, and future potential manufacturing and marketing activities. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the Company's early stage of development, lack of revenues to date, government regulation, market acceptance for its products, rapid technological change, dependence on key personnel, protection of the Company's intellectual property and dependence on the Company's strategic partners. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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