Vancouver, Canada. November 10, 2020 – NervGen Pharma Corp. (TSX-V: NGEN) (OTCQX: NGENF) (“NervGen” or the “Company”), a biotech company dedicated to creating innovative solutions for the treatment of nerve damage and neurodegenerative diseases, today announced that it has retained George Perry, PhD, the current and founding Editor-in-Chief of the Journal of Alzheimer’s Disease and Semmes Distinguished University Chair in Neurobiology at the University of Texas, San Antonio, to provide independent, expert and multi-disciplinary strategic advice to guide the development of the Company’s lead compound, NVG-291, in the treatment of Alzheimer’s disease. NervGen is also pleased to announce that Brian McAlister, NervGen co-founder, has agreed to extend his engagement as a strategic advisor with the Company for an additional two years.
“NervGen’s platform technology is truly unique and will be of significant interest in the search for a solution to Alzheimer’s disease,” stated Dr. Perry. “I’m intrigued about the novel mechanism of action and the pharmacodynamic responses seen in animal models with NVG-291. Specifically, nerve regeneration, remyelination, increased plasticity, increased autophagy and shifting the microglial phenotype in the brain from M1 to M2 all have the potential to have a beneficial effect for Alzheimer’s disease patients. I look forward to advising NervGen on the best path forward for NVG-291 as they progress through their research program in this important disease area.”
“We are very pleased that George has agreed to help drive the critical application of Alzheimer’s disease for our proprietary technology platform,” stated Paul Brennan, NervGen’s President & CEO. “While we are focused on taking NVG-291 into Phase 1 clinical trials in healthy volunteers, it is critical we build expert teams to advise us on our development programs, and we are excited to have George available to strategically advise how we best proceed with our Alzheimer’s disease program. He is distinguished as one of the top Alzheimer’s disease researchers with over 1,000 publications and is widely recognized as a contributor in Alzheimer’s disease research.”
Mr. Brennan also commented, “We are excited to have Brian McAlister formally continue as a strategic advisor to NervGen. Brian played a critical role in the founding of the Company, and we value his input and deep capital markets experience as we navigate the various strategic and financial decisions that we will face in the upcoming years.”
Dr. Perry is currently Professor of Biology and Chemistry, and past Dean of the College of Sciences at the University of Texas, San Antonio. He received his Bachelor of Arts degree in Zoology from University of California, Santa Barbara and his PhD in Marine Biology from the University of California, San Diego. Dr. Perry has received a number of awards for his research in the Alzheimer’s disease space, including the Denham Harman Research Awards and the Alzheimer Award and Medal (twice).
About Alzheimer’s Disease
Alzheimer’s disease is a progressive neurodegenerative disorder that destroys memory and cognitive functions, and is becoming a healthcare crisis with an estimated 30 million people affected globally, including 5.8 million people in the United States. As Alzheimer’s disease research and development efforts have failed to produce new effective treatments in the last fifteen years, the medical community and pharmaceutical industry are seeking technologies with novel approaches through new targets and pathways.
NervGen is restoring life’s potential by creating innovative solutions for the treatment of nerve damage and neurodegenerative diseases. The Company is developing drugs for the treatment of multiple sclerosis, spinal cord injury and Alzheimer’s disease. NervGen’s platform technology targets protein tyrosine phosphatase sigma (“PTPσ”), a neural receptor that impedes nerve repair. Inhibition of the PTPσ receptor has been shown to promote regeneration and remyelination of damaged nerves, as well as improvement of nerve function in animal models for various medical conditions.
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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 clinical development of NVG-291 for multiple sclerosis and spinal cord injuries, both sub-acute and chronic; steps taken to minimize the impact of the COVID-19 pandemic on our operations; the multiple mechanisms of NVG-291 that could have a beneficial effect for Alzheimer’s disease patients; our Phase 1 study; our intention to publish preclinical results in multiple sclerosis, Alzheimer’s disease, chronic spinal cord injury and other disease models; and the creation of innovative solutions for the treatment of nerve damage and neurodegenerative diseases.
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 the COVID-19 pandemic; 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 the COVID-19 pandemic, 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, Amended and Restated Prospectus Supplement, financial statements and Management Discussion and Analysis which can be found on SEDAR.com. All clinical development plans are subject to additional funding.
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