Vancouver, Canada. June 26, 2019 – NervGen Pharma Corp. (TSX-V: NGEN) (OTCQX: NGENF) (“NervGen” or the “Company”), a regenerative medicine company dedicated to creating innovative solutions for the treatment of nerve damage and neurodegenerative diseases, today announced its goal to apply its proprietary platform drug technology beyond spinal cord injury to multiple sclerosis (“MS”), another debilitating nerve damage related condition impacting millions of patients worldwide.
Multiple sclerosis is a disease where the immune system attacks the protective myelin sheath that covers nerve fibers, resulting in communication issues between the brain and the rest of the body. The disease causes the deterioration of the nerves and can cause permanent damage including the inability to walk. The MS research community has shifted its focus from addressing autoimmune issues to finding remyelination solutions. Two separate studies have demonstrated that NervGen’s technology has facilitated nerve remyelination in both spinal cord injury and MS animal models, making NervGen’s NVG-291 compound an attractive opportunity to become a therapeutic for multiple sclerosis.
“As we advance our lead drug candidate, NVG-291, towards a Phase 1 clinical trial in Q1 2020 for spinal cord injury, we are leveraging the potential for our drug to also promote nerve remyelination as a therapy for MS,” said Bill Radvak, NervGen’s Executive Chairman. “Recent positive reaction from the pharma community to the compelling data we have for a number of indications, including MS, has presented a clear opportunity for the Company to become an important participant in this large and dynamic segment of neurodegenerative diseases management. Importantly, the clinical data from our planned Phase 1 trial will provide us with key foundational knowledge that is transferrable to multiple indications for developing NVG-291.”
About Multiple Sclerosis
Currently, there is no cure for multiple sclerosis, which is the most widespread disabling neurological condition of young adults around the world. Recent findings from a National MS Society study estimates nearly 1 million people in the United States are living with MS and 2.3 million people are living with the disease globally. A 2016 economic analysis of MS found the total lifetime costs per person with MS to be $4.1 million. The average yearly healthcare costs range from $30,000 to $100,000 based on the mildness or severity of the disease.1
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 both spinal cord injury and multiple sclerosis.
NervGen plans to initiate a Phase 1 human clinical trial for its lead compound, NVG-291, in early 2020 under an Investigational New Drug application with the U.S. Food and Drug Administration. NervGen is advancing NVG-291 for the treatment of spinal cord injury and multiple sclerosis as the Company believes these indications are significant opportunities in the market, and have a dramatic impact on quality of life and a high cost burden to the healthcare system. The Company believes NVG-291 as a therapy could alleviate or improve upon the symptoms and conditions associated with spinal cord injury and MS, and empower these patients to live more active and productive lives.
For further information, please contact:
Bill Radvak, Executive Chairman
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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, including, without limitation, statements regarding advancement of NVG-291 toward clinical development and commercialization, the timing of human trials and regulatory approval, the potential efficacy of the Company’s products and technology, and the potential to identify, evaluate and develop other drug candidates. 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.
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