• All resolutions submitted for approval were passed by shareholders
• Glenn Ives appointed as Chair of the Board
• John Ruffolo appointed as Chair of the Audit Committee

Vancouver, British Columbia--(Newsfile Corp. - June 5, 2024) - NervGen Pharma Corp. (TSXV: NGEN) (OTCQB: NGENF), a clinical-stage biotech company dedicated to developing innovative solutions for the treatment of nervous system damage, announces the results of its Annual General Meeting of Shareholders ("AGM") held on June 4, 2024.

"We appreciate the support demonstrated by our shareholders at this AGM," said Mike Kelly, NervGen's President & CEO. "We are also pleased that Glenn Ives was elected by his fellow Board members as Chair of the Board following the AGM. As a past Chair of Deloitte Canada and the Deloitte Global Risk Committee, Glenn's experience is well suited to lead NervGen's board as we advance our programs into later-stage clinical development. We are also pleased that John Ruffolo was appointed as the new Chair of our Audit Committee. As the Founder and Managing Partner of Maverix Private Equity, founder of OMERS Ventures and a Fellow of the Chartered Professional Accountants, John's experience is a great fit to support NervGen's growth."

The company reports that at the AGM the shareholders re-elected Brian Bayley, Harold Punnett, Randall Kaye, Krista McKerracher, Glenn Ives, Craig Thompson, Adam Rogers, John Ruffolo and Michael Kelly to serve in office until the next annual meeting or until their successors are duly elected or appointed. The shareholders also voted in favour of the appointment of KPMG LLP, Chartered Accountants, as auditors of the company until the next annual meeting of the company's shareholders or until their successors are duly appointed. In addition, the shareholders approved by disinterested shareholder vote, certain amendments to the company's existing stock option plan, including an increase in the number of shares reserved for issuance.

About NervGen

NervGen (TSXV: NGEN) (OTCQB: NGENF) is a clinical-stage biotech company dedicated to developing innovative treatments that enable the nervous system to repair itself following damage, whether due to injury or disease. NervGen's lead drug candidate, NVG-291, is being evaluated in a Phase 1b/2a clinical trial in the company's initial target indication, spinal cord injury. For more information, visit www.nervgen.com and follow NervGen on X, LinkedIn, and Facebook for the latest news on the company.

About NVG-291

NervGen holds exclusive worldwide rights to NVG-291, a first-in-class therapeutic peptide targeting mechanisms that interfere with nervous system repair. NVG-291 is derived from the intracellular wedge domain of the receptor type protein tyrosine phosphatase sigma (PTPσ). NVG-291-R, a rodent analog of NVG-291, has been shown to promote nervous system repair and functional recovery in animal models of spinal cord injury (acute and chronic intervention), peripheral nerve injury, multiple sclerosis and stroke, through enhanced plasticity, axonal regeneration, and remyelination. NVG-291 has received Fast Track Designation in spinal cord injury from the U.S. Food and Drug Administration.

Contacts

Huitt Tracey, Corporate Communications
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604.537.2094

Bill Adams, Chief Financial Officer
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778.731.1711

David Schull or Ignacio Guerrero-Ros, Ph.D.
Russo Partners
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858.717.2310
646.942.5604

Neither the 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.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Such forward-looking statements and information herein include, but are not limited to, the Company's current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements, or any other future events or developments constitute forward-looking statements, and the words "may", "will", "would", "should", "could", "expect", "plan", "intend", "trend", "indication", "anticipate", "believe", "estimate", "predict", "likely" or "potential", or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. Forward-looking statements include, without limitation, statements relating to: the timing of the clinical development of NVG-291; the objectives and timing of our Phase 1b/2a clinical trial in individuals with spinal cord injury; our initial target indication of spinal cord injury; the expected contributions of our Board members; the belief that targeting mechanisms that interfere with nervous system repair is a promising target for reducing the clinical effects of nervous system damage through multiple mechanisms; and the creation of innovative treatments of nervous system damage due to trauma or disease.

Forward-looking statements are based on estimates and assumptions made by the Company in light of management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. In making forward-looking statements, the Company has relied on various assumptions, including, but not limited to: the Company's ability to manage the effects of pandemics such as COVID-19; the accuracy of the Company's financial projections; the Company obtaining positive results in its clinical and other trials; the Company obtaining necessary regulatory approvals; and general business, market and economic conditions.

Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including without limitation, a lack of revenue, insufficient funding, the impact of pandemics such as COVID-19, reliance upon key personnel, the uncertainty of the clinical development process, competition, and other factors set forth in the "Risk Factors" section of the Company's Annual Information Form, Prospectus Supplement, financial statements and Management Discussion and Analysis which can be found on SEDARplus.ca. All clinical development plans are subject to additional funding.

Readers should not place undue reliance on forward-looking statements made in this news release. Furthermore, unless otherwise stated, the forward-looking statements contained in this news release are made as of the date of this news release, and we have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.