• The patent covers NurExone's ExoPTEN drug compositions and treatment methods for Central Nervous System disease

Haifa, Israel and Calgary, Alberta--(Newsfile Corp. - January 12, 2023) - NurExone Biologic Inc. (TSXV: NRX) (FSE: J90) (the "Company" or "NurExone"), a biopharmaceutical company developing biologically-guided exosome therapy ("ExoTherapy") for patients with traumatic spinal cord injuries, has received a notice of allowance from the United States Patent and Trademark Office ("USPTO") for U.S. Patent Application NO. 17/042,44 ("the Patent"). The Patent covers and protects NurExone Exo-PTEN technology, and its drug composition as well as methods for non-invasive intranasal administration of exosome-based treatment.

The Patent discloses and claims groundbreaking inventions and methods in exosome technology, such as the pharmaceutical compositions comprising extracellular vesicles including exosomes, loaded with an exogenous inhibitor of phosphatase and tensin homolog (PTEN) inhibitor as well as a method for treating neuronal injury or damage, including intranasal administration.

The Company intends to file additional patent applications with the USPTO as well as additional international patent applications (PCT) in order to further strengthen NurExone's intellectual property portfolio. The Patent was submitted by the Technion-Israel Institute of Technology and Ramot, a Tel Aviv University's technology transfer company and is part of NurExone's licensed intellectual property portfolio.

"We are delighted that the USPTO has determined that the patent application covering our proprietary drugs and methods of administration satisfies the requirements for patentability," said Dr. Lior Shaltiel, CEO of NurExone. "The Patent will enable us to strengthen the IP barrier protecting our core technology, including the source of the cells, loaded siRNA and method of administration. This may enhance our ability to potentially commercialize and license technology to pharmaceutical companies. Moving forward, we plan to continue pursuing our intellectual property expansion strategy extending our competitive edge."

NurExone Biologic Inc. is developing a platform for biologically-guided ExoTherapy to be delivered, non-invasively, to patients who suffered traumatic spinal cord injuries. The Company is listed on the TSX Venture Exchange and in Germany.

2022 Annual and Special Shareholders' Meeting

At the Company's annual and special shareholders' meeting held on December 19, 2022 (the "Meeting"), among other decisions, the company's shareholders approved the Company's equity incentive plan (the "Plan"), which replaces the option plan of the Company previously in effect. A summary of the Plan is set out in the information circular in respect of the Meeting dated November 10, 2022, which is available under the Company's SEDAR profile at www.sedar.com.

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 more information, please contact:

Dr. Lior Shaltiel
Chief Executive Officer and Director
Phone: +972-52-4803034
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations
Phone: +1 905-347-5569
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FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements, including statements about the Company's future plans and intellectual property, the scientific,development and IP activities to be carried out by the Company, future potential manufacturing and marketing activities and the treatment of certain conditions. 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. 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 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.