TORONTO and HAIFA, Israel, March 15, 2024 (GLOBE NEWSWIRE) -- NurExone Biologic Inc. (TSXV: NRX) (Germany: J90) (the “Company” or “NurExone”), a pioneering biopharmaceutical company, developing regenerative medicine therapies, announces today its intention to broaden its market reach through a recently filed application for listing on the OTCQB® Venture Market (the "OTCQB") in the United States. Listing on the OTCQB is subject to approval of the OTC Markets Group.
The OTCQB, a reputable U.S. trading platform operated by OTC Markets Group Inc., serves as a pivotal gateway for both domestic and international companies aiming to bolster their visibility and accessibility to American investors. By maintaining stringent standards for transparency and compliance, the OTCQB fosters an environment conducive to informed trading, thus enhancing opportunities for companies to attract investment and optimize shareholder value.
The Company is delighted to announce that it has also applied for DTC eligibility by the Depository Trust Company ("DTC") for its shares on the OTCQB venture market. Approval for DTC eligibility will expand the Company's stock reach to a wider audience of potential investors and brokerage firms that mandate additional compliance measures. This move aims to enhance accessibility and potentially boost liquidity through online transactions.
Mr. Yoram Drucker, chairman of NurExone’s board, commented, "Expanding our presence to the OTCQB underscores our commitment to enhancing investor engagement and liquidity for our shareholders. OTCQB listing will offer US investors an easy way to invest in NurExone. As pioneers in the development of exosome-loaded nanodrugs for a wide range of clinical indications, we are pleased to offer broader opportunities for the investing public to join us on this innovative journey".
NurExone Biologic's common shares will continue trading on the TSX Venture Exchange (the “TSXV”) and on several stock exchanges in Germany including Frankfurt, Munich or Tradegate. If, and when, the Company's common shares start to trade on the OTCQB, the Company's common shares will continue to trade on the TSXV under the symbol NRX. The Company remains dedicated to keeping shareholders informed throughout the application process.
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.
About OTC Markets Group Inc.
OTC Markets Group Inc. oversees the operation of the OTCQX Best Market, the OTCQB Venture Market, and the Pink Open Market, encompassing a wide range of over 12,000 U.S. and global securities. By facilitating connections through OTC Link ATS and OTC Link ECN, OTC Markets Group links a varied network of broker-dealers who offer liquidity and execution services. This platform empowers investors to conveniently trade through their preferred brokers while enabling companies to enhance the quality of information accessible to investors.
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
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements in this news release include statements relating to: the Company’s application and potential approval for its shares to become OCTQB listed and DTC eligible and stated benefits thereof, including, the potential to attract investment opportunities and optimize shareholder value, expanding the Company’s stock reach to a wider audience of potential investors and brokerage firms, potentially enhancing accessibility and liquidity of the Company’s shares; the Company’s commitment to enhancing investor engagement and liquidity for its shareholders; the Company’s development of its exosome-loaded nanodrugs, including the ExoPTEN, and the stated benefits thereof; the Company’s plans to remain listed on the TSX-V; and the Company updating its shareholders throughout its applications to become OCTQB listed and for DTC eligibility.
Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company’s ability to obtain approval for its shares to become OCTQB listed and DTC eligible and realize upon the stated benefits thereof; the Company’s ability to carry out its commitment to enhancing investor engagement and liquidity for its shareholders; the Company’s ability to complete its development of its exosome-loaded nanodrugs, including the ExoPTEN, and realize upon the stated benefits; the Company’s ability to remain listed on the TSX-V; and the Company ability in updating its shareholders throughout its applications to become OCTQB listed and for DTC eligibility.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to obtain approval for its shares to become OCTQB listed and DTC eligible and realize upon the stated benefits thereof; the Company’s inability to carry out its commitment to enhancing investor engagement and liquidity for its shareholders; the Company’s inability to complete its development of its exosome-loaded nanodrugs, including the ExoPTEN; the Company’s inability to remain listed on the TSX-V; and the Company inability to update its shareholders throughout its applications to become OCTQB listed and for DTC eligibility.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
