NurExone Welcomes Biopharma Exec Dr. Ram Petter to Drive Strategic Collaborations

Rhea-AI Summary

NurExone has announced the appointment of Dr. Ram Petter as a consultant to drive strategic collaborations. Dr. Petter brings extensive experience from his tenure at Teva Pharmaceuticals. His role will focus on aiding NurExone's partnerships and licensing agreements, enhancing the Company's operational activities, and supporting the ExoTherapy platform for drug delivery beyond acute spinal cord injury. This move aims to foster innovation and commercial partnerships to realize NurExone's vision for regenerative medicine.

Positive

• Appointment of experienced biopharma executive Dr. Ram Petter to drive strategic collaborations.
• Focus on industry partnerships and licensing agreements to enhance operational activities.
• Strengthening of ExoTherapy platform for drug delivery beyond acute spinal cord injury.
• Commitment to fostering innovation and forging impactful commercial partnerships.

Negative

• No immediate financial data or clinical trial results provided to gauge short-term impact.
• Unclear how Dr. Petter's involvement will translate to immediate revenue growth or stock performance.

TORONTO and HAIFA, Israel, May 17, 2024 (GLOBE NEWSWIRE) -- NurExone Biologic Inc. (TSXV: NRX), (OTCQB: NRXBF), (Germany: J90) (the “Company” or “NurExone”), a pioneering biopharmaceutical company, proudly welcomes Dr. Ram Petter, Ph.D., MBA, as a consultant, to assist in driving the Company’s strategic collaborations. With a distinguished background in the pharmaceutical industry, including significant tenure and pivotal roles at Teva Pharmaceuticals, Dr. Petter’s addition signals NurExone’s readiness for industry partnerships and licensing agreements.

Dr. Petter will leverage his experience to support NurExone's operational activities and facilitate the Company’s strategic engagement in the effort to fully realize NurExone's potential and maximize its reach. This appointment underscores NurExone's commitment to fostering innovation and forging impactful commercial partnerships that accelerate the implementation of the Company’s vision for regenerative medicine.

"Our ExoTherapy platform for drug delivery is ready for industry partnerships targeting clinical indications beyond acute spinal cord injury," says Dr. Lior Shaltiel, CEO of NurExone. "Ram’s extensive experience and strategic acumen will be most helpful in forging these critical collaborations."

Dr. Petter's involvement with NurExone does not imply a relationship with Teva Pharmaceuticals.

About NurExone Biologic Inc.

NurExone Biologic Inc. is a TSXV listed pharmaceutical company that is developing a platform for biologically-guided exosome-based therapies to be delivered, non-invasively, to patients who have suffered Central Nervous System injuries. The Company’s first product, ExoPTEN for acute spinal cord injury, was proven to recover motor function in 75% of laboratory rats when administered intranasally. ExoPTEN has been granted Orphan Drug Designation by the FDA. The NurExone platform technology is expected to offer novel solutions to drug companies interested in noninvasive targeted drug delivery for other indications.

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: info@nurexone.com

Thesis Capital Inc.
Investment Relation - Canada
Phone: +1 905-347-5569
Email: IR@nurexone.com

Dr. Eva Reuter
Investment Relation - Germany
Phone: +49-69-1532-5857
Email: e.reuter@dr-reuter.eu

FORWARD-LOOKING STATEMENTS

This press release contains certain “forward-looking statements”, that reflect the Company’s current expectations and projections about its future results. 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. Forward-looking statements in this press release include, but are not limited to, statements relating to the Company entering into industry partnerships and/or licensing agreements; Dr. Petter supporting the Company’s operations and facilitating the Company’s engagement to realize potential and maximize reach; the Company’s products being ready for partnerships; and the NurExone platform technology offering novel solutions to drug companies.

These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof. 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; the engagement of Dr. Petter having its intended outcome; the Company entering into new partnerships and/or licensing agreement; and the NurExone platform technology will offer novel solutions to drug companies.

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, the Company receiving requisite regulatory approvals, dependence on the Company’s strategic partners and the risks discussed under the heading “Risk Factors” on 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. 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.

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.

FAQ

What role will Dr. Ram Petter play at NurExone (NRXBF)?

Dr. Ram Petter will serve as a consultant to drive strategic collaborations and support operational activities at NurExone.

What is NurExone's (NRXBF) ExoTherapy platform?

NurExone's ExoTherapy platform is designed for drug delivery, targeting clinical indications beyond acute spinal cord injury.

Why is Dr. Ram Petter's appointment significant for NurExone (NRXBF)?

Dr. Ram Petter's extensive experience in the pharmaceutical industry is expected to aid in industry partnerships and licensing agreements, enhancing NurExone's operational activities.