Developing new therapies for traumatic central nervous system injuries
NurExone Biologic Inc. , an innovative biotech company pioneering exosome based therapies designed to help patients recover from traumatic central nerve system injuries.
There's a lot happening at NurExone from the formation of a US subsidiary and a new CEO to lead that subsidiary to their plans for uplisting to a major US exchange and recent funding activity. Lyndsay Malchuk recently caught up with CEO, Dr.Lior Shaltiel to an inside scoop on some exciting preclinical results and an upcoming scientific report that can mark a major step in the research development.
The following is a transcription of the above video, and The Market Online has edited it for clarity .
Lyndsay: I think the best place to actually start is with that US subsidiary. So tell us maybe a little bit about Exo-Top and can you tell us about the new Exo-Top CEO?
Lior: Yes. So let's start with the context. We bought just recently in the end of last year, huge assets, which is the master cell bank in the US, a former US company. And these assets will stay in the US and this is the reason that we open the subsidiary there. The aim of the subsidiary is first of all to hold the master cell bank, develop it to a working cell bank and produce naive exosomes, which is the first step of our therapy for NurExone's supply, NurExone Ltd for further research and development for clinical phase. And because we are sitting on large assets, also offer exosomes in the highest standards as a B2B business for cosmetic, aesthetic and other vendors that would like to purchase it.
Regarding the CEO, I'm very glad to have Jacob Licht on our Board. He came with more than 25 years of experience in a large pharmaceutical, including a lot of experience in operations and M&A. I think that bring NurExone to a new level. Speaking American and not just entrepreneurship Israelis.
Lyndsay: Let's peel back just a little bit more here if we can. Now you've engaged with a number of North American investment banks in order to achieve that US exchange listing. So my question is, what can you share about that process, where it stands and what it means for NurExone's next phase of growth?
Lior: Sure. So, we completed in April a $2.3 million Canadian dollar raise. We are well funded with the back wind of a very successful JP Morgan event in San Francisco. We got a lot of the attention from US and Canadian investment banks. And our plan is now to up list NurExone from Canada to a major stock exchange in the US in order to be in the right market. Because as you know, the majority of large pharmaceuticals that got into a clinic need to be on a major stock exchange with the support of the market and the liquidity. And we will get the support from these investment banks to raise in two steps pre IPO raise and after that a full IPO to a major stock exchange in the US.
Lyndsay: How do you plan to use the funds to work and are you looking at any additional support from the government for grants in Israel?
Lior: Yes, we are looking all the time non-governmental funds. We have interest from the Israeli defense ministry in order to apply NurExone products in the battlefield. I believe that it'll also be relevant for the US DOD, (Department of Defense). So non-governmental is of course one of the sources to support NurExone. But on top of that, as I said, we would like to use the raise now and the raise that we completed in April in order to proceed into a clinical stage company and provide all the necessary IND enabling study in order to submit it to the FDA.
Lyndsay: I'm going to flip over here to go over some preclinical information that's exciting as well. So, the latest preclinical results around the ExoPTEN look really promising when it comes to improving motor function. So for you, what stood out in the findings? I mean, how does this move the needle for your research?
Lior: That's a very good point. We changed models at NurExone, moving from a very, very severe and not physiological model, which is full transection the spinal cord, which we could see a motor sensoric and bladder functional recovery. But now we move to a more physiological in order to get more physiological data in a compression model, meaning that you're pressing the nerves and not cutting it.
That's more of a fit to what happens to a human when you have an injury. And we see even stronger recovery. Okay. If you take a scale, the scale of motor recovery is even higher when you use the therapy. So this gives us a lot of hope that we are in the right direction. On top of that, we have also the results that we are getting more and more rats into the optic nerve damage showing the same strong recovery after just 18 days in an ERG. I think we are on the right track. We need to make sure that we have the whole package that the necessary for the FDA in order to translate our company to a clinical stage company.
Lyndsay: Let's lean into that research further. I know that there's a scientific report that's coming out soon as well. So how big of a moment is that for you and what kind of response are you hoping for from regulators or investors or even potential partners?
Lior: The correspondence with the FDA is critical. So one of the things that we want to keep is the dialogue. The last one that we had is in the end of 2023 when we completed the pre-IND. Since then we had a lot of progress. Our research became even more advanced, the production that we do in the 3D bioreactors is getting more advanced. So we have more questions today to the FDA and when sharing that we are getting ourself more focus, what is the right track? So, keeping the dialogue is critical and we are working with the regulator to help us bring the therapy further into a clinical stage.
NurExone Biologic's website is nurexone.com and you can find them on the Venture Exchange under the ticker symbol NRX.
Join the discussion: Find out what everybody's saying about this stock on the NurExone Biologic investor discussion forum, and check out the rest of Stockhouse's stock forums and message boards.
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