Calgary, Alberta--(Newsfile Corp. - July 19, 2022) - NurExone Biologic Inc. (TSXV: NRX) (formerly, EnerSpar Corp.) (the "Company" or "NurExone"), a biopharmaceutical company developing biologically-guided exosome therapy for patients with traumatic spinal injuries and other Central Nervous System ("CNS") indications, announced the signing of a Material Transfer Agreement (the "Agreement") dated July 18th, 2022 with Yissum Research Development Company of the Hebrew University of Jerusalem Ltd. ("Yissum"), the wholly-owned subsidiary and technology transfer company of the Hebrew University of Jerusalem (the "Hebrew University").
The Agreement relates to the transfer of certain biological, chemical, and other tangible materials (the "Materials") to Yissum for use by Prof. Tal Burstyn-Cohen and her team at the Hebrew University. Prof Burstyn-Cohen is an experienced researcher at the Hebrew University and leader of the Burstyn-Cohen Lab which researches molecular and cellular mechanisms that underlie tissue homeostasis in health. The Materials will be used to evaluate compositions and methods to enhance the cellular uptake of particles and organelles by small molecules, in accordance with the mutually agreed research plan attached to the Agreement. Specifically, Prof. Burstyn-Cohen's work will involve the coating of exosomes with a specialized molecule and evaluating the uptake of the coated exosomes in an inflamed brain mouse model. Under the Agreement, NurExone will have an option to receive an exclusive license to the jointly owned results and related intellectual property (if any) that may arise from the research by Prof. Burstyn-Cohen, in the field of neurodegenerative diseases and CNS indications.
Results of the collaboration may be the basis of publications in scientific journals, manuscripts, book chapters or at any scientific conferences or meetings subject to NurExone's right of review in accordance with the terms of the Agreement.
According to Dr. Lior Shaltiel, CEO of NurExone, "As a pioneer of ExoTherapy, NurExone's goal is to establish leadership in the field of human mesenchymal-derived exosome production and loading of therapeutic molecules into exosomes. To advance the science, awareness and commercialization of ExoTherapy, we intend to facilitate cutting-edge exosome-based research at leading universities. We look forward to cooperating with Prof. Burstyn Cohen to assess the feasibility of her innovations."
NurExone Biologic Inc. is a TSXV 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. The Company's ExoTherapy will use proprietary exosomes (membrane-bound extracellular vesicles) as biologically-guided nanocarriers to deliver specialized therapeutic compounds to target anatomies. The therapeutic compounds promote a biochemical environment that induces a healing process at the target location. 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 for the development and commercialization of the exosome technology.
Yissum is the technology transfer company of The Hebrew University of Jerusalem. Founded in 1964, it serves as a bridge between cutting-edge academic research and a global community of entrepreneurs, investors, and industry. Yissum's mission is to benefit society by converting extraordinary innovations and transformational technologies into commercial solutions that address our most urgent global challenges. Yissum has registered over 11,000 patents globally; licensed over 1,140 technologies and has spun out more than 200 companies. Yissum's business partners span the globe and include companies such as Boston Scientific, ICL, Intel, Johnson & Johnson, Merck, Novartis, and many more. For further information please visit www.yissum.co.il.
For more information, please contact:
Dr. Lior Shaltiel
Chief Executive Officer and Director
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This press release contains certain forward-looking statements, including statements about the Company's future plans, market size and growth, research and product development, the potential to treat SCI using the Company's products, intellectual property protection and potential future collaborations and execution on its current growth initiatives. 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.
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