Vancouver, Canada. June 3, 2019 – NervGen Pharma Corp. (TSX-V: NGEN) (OTCQB: NGENF) (“NervGen” or the “Company”), a regenerative medicine company dedicated to creating innovative solutions for the treatment of nerve damage, including spinal cord and peripheral nerve injury, today announced that it has engaged San Diego based Torrey Hills Capital, Inc. (“Torrey Hills Capital”) to provide market awareness and investor relations services to the Company.
Torrey Hills Capital is a leading investor and financial public relations firm specializing in small and microcap companies. Torrey Hills Capital will increase awareness of NervGen through its established relationships with investment professionals, investment advisors, and money managers focused on the microcap market space. This will allow the Company to build on its recent listing on the OTCQB and maintain an informed investor audience in both the U.S. and Canadian marketplaces.
Torrey Hills Capital has been engaged at a rate of US$5,000 per month for an initial term of six months. The agreement will be automatically extended after the initial term, subject to a 30-day termination notice by either party. NervGen has also agreed to grant 100,000 incentive stock options exercisable at a price of $1.54 per share for a period of three years and will vest in accordance with the policies of the TSX Venture Exchange. Torrey Hills Capital currently has no direct or indirect interest in the securities of NervGen, or any right or intent to acquire such an interest except pursuant to the exercise of the above referenced options. The appointment of Torrey Hills Capital as an investor relations consultant to NervGen and the granting of the options are subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.
The Company also announces that on June 1, 2019, it granted an aggregate of 200,000 incentive stock options to certain officers of the Company in accordance with the Company’s stock option plan. Each option is exercisable at a price of $1.54 into one common share in the capital of the Company for a period of up to five years from the date of grant.
About Torrey Hills Capital
Torrey Hills Capital was formed in 1998 and is headquartered in Rancho Santa Fe, California. The team of professionals offers experience and expertise in investor relations, corporate communications, non-deal road shows, and market support activities. Torrey Hills Capital specializes in the development and marketing of emerging growth companies which trade in the United States (NYSE, NYSE American, and OTC) and in Canada (TSX, TSX-V, and CSE). Marketing activities articulate key investment attributes, strategic direction, and financial expectations, which combine to ensure that client market value fully reflects past achievements and future opportunities. Further information is available at www.torreyhillscapital.com.
NervGen is restoring life’s potential by creating innovative solutions for the treatment of nerve damage, including spinal cord injuries and peripheral nerve injuries. The Company also continues to research secondary applications such as multiple sclerosis, stroke, acute myocardial infarction induced arrhythmia (“AMI”, commonly known as a heart attack) and other neurodegenerative diseases.
NervGen plans to initiate a Phase 1 human clinical trial for its lead compound, NVG-291, in early 2020 under an Investigational New Drug application with the US Food and Drug Administration. NervGen is advancing NVG-291 for the treatment of spinal cord injury as the Company believes this indication is a significant opportunity due to the current lack of non-surgical solutions in the market, the dramatic impact on quality of life and the high cost burden to the healthcare system. The Company believes NVG-291 as a therapy could alleviate or improve upon the symptoms and conditions associated with spinal cord injury and empower these patients to live more active and productive lives.
For further information, please contact:
Bill Radvak, Executive Chairman
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, including, without limitation, statements regarding advancement of NVG-291 toward clinical development and commercialization, the timing of human trials and regulatory approval, the potential efficacy of the Company’s products and technology, and the potential to identify, evaluate and develop other drug candidates. 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 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 the Company believes are appropriate and reasonable in the circumstances. Many factors could cause the Company’s 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, 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 Prospectus, financial statements and Management Discussion and Analysis which can be found on SEDAR.com.
Readers should not place undue reliance on forward-looking statements made in this document. Furthermore, unless otherwise stated, the forward-looking statements contained in this document are made as of the date of this document, and the Company has no intention and undertakes 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 document are expressly qualified by this cautionary statement.