Vancouver, Canada, January 5, 2021 – 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 Paul Brennan, President & CEO, will conduct a corporate presentation at the LifeSci Partners 10th Annual Healthcare Corporate Access Event on Wednesday, January 6, 2021 at 3:00pm Eastern Time.
Investors interested can pre-register for NervGen’s corporate presentation at this LifeSci Partners’ event here. The discussion will include NervGen’s recent progress, upcoming catalysts, and plans for 2021. The format will be a virtual presentation with the opportunity for Q&A at the conclusion.
NervGen also announced that it has engaged Delaware based Encode Ideas, L.P. (“Encode”) to provide capital markets consulting that will complement the services provided by LifeSci Partners. Encode has been engaged for an initial term of one year for cash compensation that is paid quarterly and is not anticipated to exceed US$125,000 in total over the initial term. The agreement will be automatically extended after the initial term subject to a 60-day termination notice by either party. In addition, the Encode principles have been granted a total of 100,000 incentive stock options exercisable at a price of $2.23 per share for a period of five years and that vest equally every three months over a one-year period. Encode has no other indirect or direct interest in the Company. The appointment of Encode as a capital markets consultant to NervGen is subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.
The Company also announced that it has granted 50,000 incentive stock options to a Director exercisable at a price of $2.23 per share for a period of five years and that vest equally every three months over a one-year period. In addition, 50,000 incentive stock options were granted to an employee exercisable at a price of $2.23 per share for a period of 10 years and that vest equally every six months over a two-year period. All options have been granted in accordance with the policies of the TSX Venture Exchange and the conditions of the Company’s stock option plan.
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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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 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; our Phase 1 study; our belief that the services provided by Encode will compliment those of LifeSci, 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.
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.
For further information, please contact:
Huitt Tracey, Corporate Communications
Corey Davis Ph.D., LifeSci Advisors LLC