NurExone Biologic Inc. announced that the Company has been awarded a ILS 1 million (CAD 350,00) grant by the Israel Innovation Authority as part of the Israel-Canada bilateral Eureka program. The grant is for a collaboration with Canada-based Inteligex Inc. to develop an innovative hybrid therapy tailored for the complex chronic spinal cord injury market. This endeavor combines Inteligex's established expertise in stem cell treatments with NurExone's ExoTherapy drug delivery platform.

Currently, NurExone is in the process of developing the ExoPTEN product specifically for acute spinal cord injuries. This collaborative effort opens the possibility for the Company to expand its focus to chronic spine injuries. In acute injuries, immediate cell damage occurs, while chronic injuries trigger a secondary injury cascade in the days, weeks, and months following the initial injury.

Chronic injuries involve inflammation, cell death, and the formation of a cavity within the spinal cord, encased by scar tissue that disrupts nerve signal flow. Consequently, recovering motor function after paralysis induced by chronic injury is exceptionally challenging, and a hybrid therapy may have potential for a significant step forward in this field. The ILS 1 million grant for the first year is expected to cover a significant part of the Company's total first year project budget of ILS 2.45 million (CAD 850,000).

The two-year collaborative partnership with Inteligex has an overall budget of EUR 1.69 million.