NurExone Biologic Inc. Announces Fourth Quarter and Full-Year 2025 Financial Results and Provides Corporate Update

TORONTO, Ontario and HAIFA, Israel, April 16, 2026 (GLOBE NEWSWIRE) -- NurExone Biologic Inc. (TSXV: NRX) (OTCQB: NRXBF) (FSE: J90) ("NurExone" or the "Company"), a biopharmaceutical company developing exosome-based regenerative therapies for central nervous system ("CNS") injuries is pleased to provide a business update and reported financial results for the fourth quarter and financial year ended December 31, 2025. The Company's lead program, ExoPTEN, is being developed for acute spinal cord injury and optic nerve damage, with additional potential indications including traumatic brain injury and facial nerve injury.

The Company's audited consolidated financial statements for the fiscal years ended December 31, 2025 and 2024 and accompanying management discussion and analysis can be accessed by visiting the Company's website at www.nurexone.com and its SEDAR+ profile at www.sedarplus.ca.

2025 Highlights and Significant Milestones

• Advancement of ExoPTEN Therapy: Throughout 2025, the Company continued to refine its preclinical data and address feedback from the U.S. Food and Drug Administration ("FDA") as it advanced key milestones towards the submission of an Investigational New Drug ( IND - application for ExoPTEN. NurExone generated additional encouraging preclinical results that strengthened confidence in ExoPTEN's therapeutic potential, while also advancing work on dosing, manufacturing, and product characterization. These efforts support preparation for regulatory review, clinical development and first-in-human clinical trials.
  
  
• Establishment of Exo-Top and U.S. Expansion: On February 4, 2025, the Company established Exo-Top Inc., ("Exo-Top") a wholly owned U.S. subsidiary in Nevada. This strategic move, together with the acquisition of a proprietary Master Cell Bank ("MCB"), supports the independent production and commercial supply of high-quality naïve exosomes for the Company's future pipeline.
  
  
• Financial Strengthening: During the year ended December 31, 2025, the Company significantly strengthened its capital structure and liquidity position through a series of private placements, warrant exercises, and stock option exercises, generating aggregate gross proceeds of approximately US$5.9 million. These financing activities supported the Company's ongoing operations and development initiatives. Key transactions included:
  
  
  • January 2025 Private Placement: On January 21, 2025, the Company completed a non-brokered private placement of 856,996 units at C$0.56 per unit, generating gross proceeds of approximately US$333 thousand (C$480 thousand). Each unit consisted of one Common Share and one Common Share purchase warrant exercisable at C$0.70 for a period of 36 months.
    
    
  • April 2025 Private Placement: On April 9, 2025, the Company completed a non-brokered private placement of 3,543,238 units at C$0.65 per unit, generating gross proceeds of approximately US$1.6 million (C$2.3 million). Each unit consisted of one Common Share and one warrant exercisable at C$0.85.
    
    
  • August 2025 Private Placement: On August 20, 2025, the Company completed a non-brokered private placement of 1,258,072 units at C$0.62 per unit, generating gross proceeds of approximately US$568 thousand (C$780 thousand). Each unit consisted of one Common Share and one-half of one warrant exercisable at C$0.80.
    
    
  • September 2025 Private Placement: On September 11, 2025, the Company completed a non-brokered private placement of 930,376 units at C$0.68 per unit, generating gross proceeds of approximately US$457 thousand (C$633 thousand). Each unit consisted of one Common Share and one-half of one warrant exercisable at C$0.88.
    
    
  • Warrant Exercises: During 2025, the Company received significant proceeds from warrant exercises, including the full exercise of all outstanding September 2023 and January 2024 warrants following the Company's acceleration notice, as well as additional exercises throughout the year. In aggregate, warrant exercises generated approximately US$2.95 million (C$4.17 million) in gross proceeds.

These financing activities collectively supported the Company's continued development and operational activities during the year.

• Company Continuance: On April 22, 2025, the Company completed its continuance from the Province of Alberta to the Province of Ontario, now governed by the Business Corporations Act (Ontario).
  
  
• U.S. Commercial and Manufacturing Strategy: Subsequent to year-end, the Company further advanced Exo-Top's role in its U.S. strategy through an internal sublicensing agreement and a non-binding letter of intent with BioXtek Inc., intended to support U.S. GMP manufacturing, clinical supply, and potential commercialization of naïve exosomes.

Corporate Updates

• BioXtek LOI Supporting U.S. Manufacturing and Commercial Strategy: On April 7, 2026, the Company announced that Exo-Top entered into a non-binding letter of intent (the "BioXtek LOI") with BioXtek Inc. ("BioXtek"), a Florida-based biotechnology company, to explore a potential strategic partnership for exosome manufacturing and commercialization. The BioXtek LOI establishes a framework to negotiate a collaboration intended to support U.S.-based GMP manufacturing, clinical supply, and potential commercialization of bone marrow-derived mesenchymal stem cell (MSC) naïve exosomes. The potential collaboration aims to combine Exo-Top's proprietary Master Cell Bank and exosome production expertise with BioXtek's GMP manufacturing infrastructure. The BioXtek LOI is non-binding, and any potential transaction remains subject to due diligence, negotiation and execution of a definitive agreement, corporate approvals, and required regulatory approvals, including acceptance by the TSX Venture Exchange. As of the date hereof, no definitive agreement has been executed and there can be no assurance that the discussions will result in a completed transaction.
  
  
• Exo-Top Internal Sublicensing Agreement: On March 26, 2026, the Company announced that its subsidiaries Exo-Top and NurExone Biologic Ltd. ("NurExone Ltd") entered into a sublicense agreement granting Exo-Top rights under the Company's existing technology license agreement originally dated June 23, 2020 with Technion Research & Development Foundation Ltd. and Ramot at Tel Aviv University Ltd. The sublicense positions Exo-Top to support U.S. manufacturing, clinical development and potential commercialization of naïve exosomes. No monetary consideration was paid by Exo-Top to NurExone Ltd under the sublicense agreement. The sublicense does not create any additional third-party royalty obligations beyond those already applicable under the underlying technology license agreement, including minimum royalty requirements and any sales-based royalty obligations that may become payable in accordance with the terms of that license agreement.
  
  
• IBN Engagement. Further to the Company's news release dated April 1, 2026, the Company will not be entering into an engagement with the Investor Brand Network.
  
  

Outlook for 2026

NurExone is focused on advancing its exosome-based therapy pipeline, with key priorities including completion of IND-enabling studies, engagement with regulatory agencies, and the initiation of first-in-human clinical trials.

In parallel, the Company is working to establish and expand its U.S. operational footprint through Exo-Top, including GMP-compliant manufacturing capabilities, while advancing discussions under the BioXtek LOI toward a potential strategic partnership and exploring initial commercial opportunities for exosome products as part of its broader commercialization strategy.

Dr. Lior Shaltiel, CEO of NurExone, stated: "In 2025, we were sharply focused on the key steps needed to de-risk ExoPTEN's advancement toward clinical development. From refining our preclinical and regulatory package and advancing Chemistry, Manufacturing, and Controls ("CMC") readiness, to strengthening our U.S. operational strategy and reinforcing our financial position, we have made meaningful progress in building the foundation for the next phase of growth."

Eran Ovadya, CFO of NurExone, remarked: "Our strong financial management and the successful capital raises of approximately US$5.9 million during 2025 have provided us with the resources needed to advance our strategic priorities. With this funding and the continued development of our U.S. operational strategy through Exo-Top, we believe the Company is well positioned to progress toward key development milestone and support the advancement of our programs toward clinical trials."

Full Year and Fourth Quarter 2025 Financial Results

• Research and development expenses, net, were US$2.64 million in 2025, compared to US$1.87 million in 2024. For Q4-2025, expenses were US$0.62 million, compared to US$0.63 million in the previous year, reflecting increased investment in preclinical and IND regulatory preparations.
  
  
• General and administrative expenses were US$3.69 million in 2025, compared to US$3.14 million in 2024. For Q4-2025, expenses were US$0.72 million, compared to US$0.85 million in the previous year, reflecting continued cost management while supporting strategic growth and the establishment of the Company's U.S. presence.
  
  
• Financial income/expenses, net, were US$0.06 million of expenses in 2025, compared to US$0.03 million of expense in 2024. For Q4-2025, net financial expenses were US$0.06 million, compared to US$0.06 million in the previous year.
  
  
• Net loss for 2025 was US$6.38 million, compared to US$5.04 million in 2024. For Q4-2025, net loss was US$1.40 million, compared to US$1.55 million in the previous year.
  
  
• Cash position: As of December 31, 2025, the Company had total cash and equivalents of US$2.14 million, compared to US$0.70 million as of December 31, 2024. This significant increase is primarily attributed to capital raised through the full exercise of outstanding warrants in Q4 and the 2025 private placements.
  
  
• The Company remains in the research and development stage and has not yet commercialized any products or generated revenue. As of December 31, 2025, the Company had an accumulated deficit of US$25.48 million.

About NurExone

NurExone is a TSXV, OTCQB, and Frankfurt-listed biotech company focused on developing regenerative exosome-based therapies for central nervous system injuries. Its lead product, ExoPTEN, has demonstrated strong preclinical data supporting clinical potential in treating acute spinal cord and optic nerve injury. Regulatory milestones, including obtaining the Orphan Drug Designation, facilitates the Company's roadmap towards clinical trials in the U.S. and Europe. Commercially, the Company is expected to offer solutions to companies interested in quality exosomes and minimally invasive targeted delivery systems for other indications. NurExone has established Exo-Top Inc., a U.S. subsidiary, to anchor its North American activity and growth strategy.

For additional information and a brief interview, please watch Who is NurExone?, visit www.nurexone.com or follow NurExone on LinkedIn, Twitter, Facebook, or YouTube.

For more information, please contact:

Dr. Lior Shaltiel
Chief Executive Officer and Director
Phone: [phone]
Email: [e-mail]

Russo Partners LLC
Investor and Media Relations - United States
215 Park Ave S, Suite 1905
New York, NY 10003
Phone: [phone]
Email: [e-mail]

Dr. Eva Reuter
Investor Relations - Germany
Phone: [phone]
Email: [e-mail]

FORWARD-LOOKING STATEMENTS

This press release contains certain "forward-looking statements" that reflect the Company's current expectations and projections about its future results. 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. Forward-looking statements in this press release include, but are not limited to, statements relating to: the Company's CMC activities and manufacturing/quality readiness; potential IND-enabling steps and the timing/commencement of clinical trials; manufacturing scale-up and establishment of small-scale clinical manufacturing capability in Israel; evaluation of potential U.S. operational development through Exo-Top Inc.; the negotiation, timing, and potential completion of any definitive agreement or transaction arising from the BioXtek LOI, and the expected benefits and timing of any strategic manufacturing collaboration in Florida; and the TSXV approval and scope of services of Russo; and the NurExone platform technology offering novel solutions to drug companies interested in minimally invasive targeted drug delivery for other indications.

These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. In developing the forward-looking statements in this press release, we have applied several material assumptions, including: the ability to execute planned CMC work as designed; the availability of capital, talent and third-party vendors on commercially reasonable terms; that preclinical and analytical data will continue to support advancement toward IND-enabling steps; that regulatory interactions occur on expected timelines; that manufacturing technology transfer/scale-up proceeds as planned; that operational steps in Israel and the U.S. advance as contemplated; that the Russo engagement receives TSXV approval on substantially the terms described; and the NurExone platform technology has the ability to offer novel solutions to drug companies interested in minimally invasive targeted drug delivery for other indications.

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: early-stage development risk; the risk that preclinical/analytical results do not predict clinical outcomes; regulatory review timing and outcomes; manufacturing scale-up and CMC risks; financing and market conditions; dependence on third-party collaborators and suppliers; IP protection; competition and technological change; the NurExone platform technology not offering novel solutions to drug companies interested in minimally invasive targeted drug delivery for other indications; the risk that a definitive agreement with BioXtek may not be reached and that no transaction contemplated by the BioXtek LOI will be completed; and the risks discussed under the heading "Risk Factors" on pages 44 to 51 of the Company's Annual Information Form dated August 27, 2024, a copy of which is available under the Company's SEDAR+ profile at www.sedarplus.ca. 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.

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.