Toronto, Ontario and Tel Aviv, Israel--(Newsfile Corp. - May 8, 2023) - NurExone Biologic Inc. (TSXV: NRX) (FSE: J90) (NRX.V) (the "Company" or "NurExone"), a biopharmaceutical company developing biologically-guided exosome therapy for patients with traumatic spinal cord injuries, announces that it has granted an aggregate of 1,145,520 incentive stock options ("Options") and 1,275,000 restricted share units ("RSUs") under the Company's equity incentive plan to certain officers and directors of the Company. Each Option is exercisable for one common share of the Company at a price of $0.28 per common share. 827,120 of the Options vest immediately and expire on May 8, 2032. 318,400 of the Options vest over a two-year period in various increments and expire between nine and ten years following the grant date. Each RSUs will vest for one common share of the Company on the date that is 12 months following the date of the grant.

The Company also announces the resignation of Eyal Flom from the board of directors of the Company for personal reasons, effective immediately. NurExone's directors and management thank Mr. Flom for his service and wish him all the best with his future endeavours.

About NurExone Biologic Inc.

NurExone Biologic Inc. is a TSX Venture Exchange-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 and Tel Aviv University 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 further information, please contact:

Dr. Lior Shaltiel
Chief Executive Officer and Director
Phone: +972-52-4803034

Inbar Paz-Benayoun, Adv. Head of Communications and Investor Relations
Phone: +972-52-3966695
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations (Canada)
Phone: +1 905-347-5569
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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.