NurExone Appoints Biotech Industry Leader – Jacob Licht to Lead U.S. Operations and Exo-Top Manufacturing Expansion and Completes Continuance into Ontario

Business Upturn

22-04-2025

By GlobeNewswire Published on April 23, 2025, 01:05 IST
TORONTO and HAIFA, Israel, April 22, 2025 (GLOBE NEWSWIRE) — NurExone Biologic Inc. (TSXV: NRX) (OTCQB: NRXBF) (FSE: J90) ('NurExone' or the 'Company'), a preclinical-stage biotechnology company pioneering regenerative exosomes-based therapies for central nervous system injuries, is pleased to announce the appointment of Jacob Licht as Chief Executive Officer of Exo-Top Inc. ('Exo-Top'), a wholly owned subsidiary of the Company, and as Vice President, Corporate Development at NurExone. Exo-Top is a U.S.-based GMP-compliant exosome manufacturing site and will be the pillar of the Company's global supply chain and commercialization strategy.
Mr. Licht's new roles will include leading the establishment of Exo-Top's manufacturing capabilities, developing strategic partnerships, and developing corporate initiatives aligned with NurExone's path toward clinical readiness and future fundraising.
'Jacob's appointment underscores our commitment to operational excellence and financial growth in the U.S. market,' said Dr. Lior Shaltiel, Chief Executive Officer of NurExone. 'Exo-Top is expected to be integral to scaling our manufacturing capacity, building robust quality systems, and supporting our progress towards human clinical trials and commercialization.'
Yoram Drucker, Chairman of NurExone, stated: 'Exo-Top will serve as the cornerstone of our exosome production in the U.S., and Jacob is the right executive to lead it. His track record in scaling biotech operations, executing transformative deals, and his business acumen aligns perfectly with our financial strategy as we scale to grow revenue and expand our North America footprint.'
Mr. Licht brings more than 20 years of experience in manufacturing-intensive biotech and specialty pharmaceuticals companies. He has led transactions totaling $1 billion across mergers and acquisitions, licensing, and asset sales. His previous leadership roles include Vice President of Business Development at Lantheus Medical Imaging and Vice President of Corporate Development at Bavarian Nordic and Emergent BioSolutions, where he was instrumental in driving strategic acquisitions and commercial partnerships.
'NurExone's platform has the potential to transform how we treat Central Nerve Injuries in multiple indications,' said Jacob Licht. 'The leadership team is exceptional, and with Exo-Top, we're building the infrastructure to support global production, operational independence, and long-term value creation.'
Continuance into Ontario
The Company is also pleased to announce that effective today, further to its press release dated June 4, 2024, it has completed a continuance from the Province of Alberta governed under the Business Corporations Act (Alberta) into the Province of Ontario governed under the Business Corporations Act (Ontario) (the 'Continuance'). The Continuance was approved by the Company's shareholders at its annual general and special meeting held on Monday, June 3, 2024.
About NurExone
NurExone Biologic Inc. is a TSX Venture Exchange ('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, both multi-billion-dollar markets i . Regulatory milestones, including obtaining the Orphan Drug Designation, facilitates the 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 ShaltielChief Executive Officer and DirectorPhone: [phone]
Email: [email protected]
Oak Hill Financial Inc.2 Bloor Street, Suite 2900Toronto, Ontario M4W 3E2
Investor Relations – Canada Phone: [phone]
Email: [email protected]
Dr. Eva Reuter
Investor Relations – GermanyPhone: [phone]
Email: [email protected]
Allele Capital Partners
Investor Relations – U.S.Phone: [phone]
Email: [email protected]
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: Mr. Licht's roles within the Company and Exo-Top; Exo-Top will serve as the cornerstone of the Company's exosome production in the U.S.; Exo-Top will be the pillar of the Company's global supply chain and commercialization strategy; the Company advancing towards clinical and commercial breakthroughs in regenerative medicine; the Company's current expectations regarding future development plans, operational initiatives, and strategic objectives; the advancement of the Company's therapeutic programs and clinical milestones; the expansion of infrastructure; potential commercial opportunities; 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 Company realizing on the benefits of exosomes; the Company will produce and supply exosomes for a wide range of applications; the ability of the Company's products to be used for patient treatment; the Company fulfilling its intended future plans and expectations; the Company maintaining its ongoing commitment to using its ExoTherapy platform to advance the field of regenerative medicine and cell therapy applications; the Company will receive all regulatory approvals; the Company will have clinical and commercial breakthroughs in regenerative medicine; the Company will be able to realize its future development plans, operational initiatives, and strategic objectives; the Company's ability to advance its therapeutic programs and clinical milestones; the expansion of infrastructure; potential commercial opportunities; Mr. Licht will have the ability to be the Chief Executive Officer of Exo-Top and Vice President, Corporate Development of the Company and will perform the roles as set herein; Exo-Top will have the ability to serve as the cornerstone of the Company's exosome production in the U.S.; Exo-Top will be the pillar of the Company's global supply chain and commercialization strategy; and the NurExone platform technology will 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: the Company's early stage of development; lack of revenues to date; government regulation; market acceptance for its products; rapid technological change; dependence on key personnel, including Mr. Licht; dependence on the Company's strategic partners; the fact that preclinical drug development is uncertain, and the drug product candidates of the Company may never advance to clinical trials; the fact that results of preclinical studies and early-stage clinical trials may not be predictive of the results of later stage clinical trials; the uncertain outcome, cost, and timing of product development activities, preclinical studies and clinical trials of the Company; the uncertain clinical development process, including the risk that clinical trials may not have an effective design or generate positive results; the inability to obtain or maintain regulatory approval of the drug product candidates of the Company; the introduction of competing drugs that are safer, more effective or less expensive than, or otherwise superior to, the drug product candidates of the Company; the initiation, conduct, and completion of preclinical studies and clinical trials may be delayed, adversely affected or impacted by unforeseen issues; the inability to obtain adequate financing; the inability to obtain or maintain intellectual property protection for the drug product candidates of the Company; risks that the Company's intellectual property and technology won't have the intended impact on the Company and/or its business; the Company's inability to carry out its pre-clinical trials and realize upon the stated benefits of the pre-clinical trials; the inability of the Company to realize on the benefits of exosomes; the inability of the Company to produce and/or supply exosomes for a wide range of applications; the inability of the Company's products to be used for patient treatment; there not being broader adoption in the field and/or cell therapy applications; the inability of the Company to fulfill its intended future plans and expectations; there not being growing clinical demand for innovative treatments in spinal cord, optic nerve, and/or other therapeutic areas; the inability of the Company to collaborate with pharma companies; the Company's inability to realize upon the stated potential for exosome-loaded drugs in regenerating or repairing damaged nerves; the Company's inability to maintain its ongoing commitment to using its ExoTherapy platform to advance the field of regenerative medicine and/or cell therapy applications; the Company's inability to expand into further studies; the Company will not receive all required regulatory approvals; the Company will not have clinical and/or commercial breakthroughs in regenerative medicine; the NurExone platform technology not offering novel solutions to drug companies interested in minimally invasive targeted drug delivery for other indications; the Company will not realize its future development plans, operational initiatives, and strategic objectives; the Company will not advance its therapeutic programs and clinical milestones; the Company will not expand its infrastructure; no commercial opportunities for the Company to capitalize on; Mr. Licht will not perform the roles as set out herein; Exo-Top will not serve as the cornerstone of the Company's exosome production in the U.S.; Exo-Top will not be the pillar of the Company's global supply chain and commercialization strategy; 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.
i Spinal cord injury , Glaucoma
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