Vancouver, Canada. October 19, 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 is pleased to announce that it has retained the services of Michael Davis, MD, FACS, FRCS (Hon.), Colonel (Ret.), formerly Director of the U.S. Combat Casualty Care Research Program, to help NervGen identify, prioritize and secure sources of non-dilutive funding for developing its lead compound, NVG-291, for treating nerve damage.
Paul Brennan, NervGen’s President & CEO, stated, “Dr. Davis has previously directed the Planning, Programing, Budget and Execution process for the U.S. Department of Defense (“U.S. DoD”)/Defense Health Agency science and technology investment for combat casualty care with over $1 billion in planned funding. He is uniquely qualified to help NervGen identify and secure non-dilutive funding for our current programs as well as for other indications where our drug could have a significant benefit. Dr. Davis’ efforts towards optimizing grants from government funding agencies such as the U.S. DoD will support not only our priority indications of multiple sclerosis, spinal cord injury and Alzheimer’s disease, but will bring an emphasis to finding support for important non-core indications.”
Dr. Davis added, “I am very excited about the potential of NervGen’s technology for nerve repair, particularly in areas that relate specifically to the interest of the U.S. DoD, such as traumatic brain injury, peripheral nerve injury and nerve compression syndrome. In my previous role as the Director of the Planning, Programing, Budget and Execution process for the U.S. DoD combat casualty care I have seen a lot of programs that have been proposed for such injuries, and I believe that NervGen has a compelling case for advancing its programs to uniquely benefit injured DoD Service members as well as injured civilians. I look forward to helping NervGen explore non-dilutive funding options to advance its development programs in these important areas.”
Dr. Davis is currently President of MD3 Multidimensional Medical Consulting, Professor of Surgery at Uniformed Services University, Bethesda, MD (“USU”), and Senior Reconstructive Surgeon at South Texas Aesthetic and Reconstructive Surgery. Previously he was Director of the U.S. Combat Casualty Care Research Program, Plastic and Reconstructive Surgeon at the Walter Reed National Military Medical Center, Deputy Commander of the United States Army Institute of Surgical Research and Founder/Director of the RESTORTM Program, a basic science/pre-clinical research group for advancing complex reconstructive surgery and regenerative medicine. Dr. Davis obtained his MD at USU, is Board Certified in Surgery and Plastic Surgery, and has held academic appointments at the University of Alabama at Birmingham, USU, University of Texas Health Science Center, San Antonio, TX, McGowan Institute of Regenerative Medicine, Pittsburgh, PA, and Wright State University, Boonshoft School of Medicine, Dayton, OH.
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 spinal cord injury, multiple sclerosis 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.
For further information, please contact:
Huitt Tracey, Corporate Communications
Corey Davis Ph.D., LifeSci Advisors LLC
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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; our ability to identify and secure non-dilutive funding for our current programs as well as for other indications where our drug could have a significant effect; that optimizing grants will support not only our priority indications, but will bring an emphasis to finding support for important non-core indications; our Phase 1 study; PTPσ and its benefits in treating spinal cord injuries, multiple sclerosis, peripheral nerve injury and cardiac ischemia; and our research for a solution for Alzheimer’s disease and other neurodegenerative applications.
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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