NervGen Pharma Reports 2024 Year-End Financial Results and Provides Business Updates

• Completed enrollment in the chronic cohort and commenced enrollment in the subacute cohort of its Phase 1b/2a clinical trial for lead drug candidate, NVG-291, in spinal cord injury (SCI)
• Initiated an expanded access protocol for NVG-291 for individuals with SCI who have participated in a NervGen clinical trial and meet specific eligibility criteria
• Pipeline candidate NVG-300 showing promising activity in preclinical models of ischemic stroke and SCI

Vancouver, British Columbia--(Newsfile Corp. - April 3, 2025) - NervGen Pharma Corp. (TSXV: NGEN) (OTCQB: NGENF), a clinical-stage biotech company dedicated to developing neurorestorative therapeutics, today reported its financial and operational results for the full year ended December 31, 2024.

"2024 was a very productive year for NervGen as we advanced the clinical development of our lead candidate, NVG-291, in spinal cord injury and delivered on key research activities and business milestones," said Mike Kelly, President and Chief Executive Officer of NervGen Pharma. "Most notably, we completed enrollment in the chronic cohort of our Phase 1b/2a clinical study of NVG-291 for individuals with SCI and anticipate a topline data readout for this cohort in early June 2025. We also received Institutional Review Board approval for an amendment to the subacute cohort of our Phase 1b/2a clinical trial and initiated enrollment. This important proof-of-concept study is aimed at demonstrating for the first time the potential of NVG-291 in enabling repair of nervous system damage in individuals with spinal cord injury.

"Importantly, we expect that the net proceeds from our $23 million bought deal financing completed earlier in 2024, coupled with our existing working capital and anticipated proceeds from our at-the-market equity program (ATM) will fund continued clinical development of NVG-291 along with research and development activities to support further evaluation and preclinical activities in other indications through Q3 2025," continued Mr. Kelly.

Earlier this week, NervGen also reported that the FDA informed the company that an expanded access protocol for NVG-291 may proceed. The protocol submission was in response to a request from a physician for expanded access to NVG-291 for a patient who participated in the chronic cohort of the Phase 1b/2a clinical trial.

In addition, preclinical studies of NVG-300 in ischemic stroke and SCI, initiated during 2024, showed promising initial results, suggesting further investigation is warranted. Key preclinical findings in ischemic stroke and SCI include: