TORONTO and HAIFA, Israel, March 08, 2024 (GLOBE NEWSWIRE) -- NurExone Biologic Inc. (TSXV: NRX) (Germany: J90) (the “Company” or “NurExone”), a pioneering biopharmaceutical company, finalized today a lease and constructing agreement for nearly 200 square meters of laboratories and office space on the campus of the prestigious Israel Institute of Technology (“Technion”). The lease period extends until December 31, 2028, with an option to extend for an additional five years.
The Technion’s commitment to science research and biotech innovation are reflected in the decision to allocate a new facility on the university’s campus to the Company. This exclusive location will provide NurExone with ongoing access to top talent, resources and human capital from the university. The new facilities will play a pivotal role in driving the development of the Company’s revolutionary ExoPTEN and ExoTherapy platform, positioning NurExone at the forefront of exosome-based therapies advancements.
Dr. Noa Avni, Director of R&D at NurExone, states, "We're pleased to be expanding to a cutting-edge research and development facility on the Technion campus, tailored to our present and future needs for the ExoTherapy platform and ExoPTEN development. In addition, being located at the Technion provides access to multi-million-dollar equipment and advanced facilities at the Technion, streamlining costs for the Company. We are deeply grateful to the Technion for their partnership and support."
In the pursuit of constructing a cutting-edge facility that will cater to the needs of the Company and its prospective collaboration partners, the Company has signed a construction agreement with Biopharmax Group Ltd ("Biopharmax"), a global designer and constructor for leading biotech companies. Construction of the state-of-the-art laboratories and offices is slated for completion within a 12-week period.
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, including statements about the Company's future plans and intellectual property, the scientific and development and commercial activities to be carried out by the company, the development of a new facility and related lease, and future potential manufacturing 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. Certain assumptions include the ability of the Company to commercialize its intellectual property internally and through licensing and that the Company has the appropriate team in order to realize commercialization. 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.
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.
