Nurexone shows vision recovery in glaucoma study
Executive Summary
- Nurexone Biologic reports that its lead candidate ExoPTEN shows a reproducible, dose‑dependent restoration of visual function in a preclinical glaucoma (optic nerve crush) model.
- The company accelerates the expiry of 2,515,456 Class B warrants (48¢ strike) and 5,653,073 common share purchase warrants (35¢ strike), now set to expire on 7 Nov 2025, with potential gross proceeds of ≈ $3.2 M if exercised.
- The Positive Communications services agreement is extended through 10 Jul 2026 with added monthly expense reimbursement.
Key Details
- Preclinical Efficacy:
- Low‑ and high‑dose ExoPTEN administered via extrachoroidal injection improved scotopic threshold response electroretinography (STR‑ERG) amplitudes in optic nerve‑injured animals.
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High‑dose group achieved response levels comparable to uninjured eyes, confirming a clear dose‑response relationship.
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Study Collaboration:
- Conducted with Prof. Ygal Rotenstreich’s team at the Goldschleger Eye Institute, Sheba Medical Center.
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Third independent investigation of ExoPTEN; prior studies (June 2024, Dec 2024) showed structural retinal ganglion cell preservation.
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Warrant Acceleration:
- September 2023 warrants (48¢) and January 2024 warrants (35¢) accelerated after TSX‑V share price ≥ $0.83 and $0.80 respectively for 20 consecutive trading days.
- New expiry: 5 p.m. Calgary time, 7 Nov 2025 (30 days from acceleration notice).
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Potential gross proceeds if fully exercised: ≈ $3.2 M; proceeds earmarked for general corporate and working‑capital purposes.
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Warrant Holder Profile:
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~89 % of warrants held by U.S.–based investors; underlying shares remain restricted under U.S. securities laws.
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Positive Communications Agreement Extension:
- Term extended to 10 Jul 2026 (additional nine‑month extension).
- Monthly expense reimbursement increased to up to NIS 15,000 + VAT (in addition to existing monthly fee of NIS 15,000 + VAT).
- Either party may terminate with 30 days’ notice; Positive Communications holds no current securities interest in Nurexone.
Notable Quotes
- “Reproducibility is the key challenge in science… ExoPTEN has the potential impact of a true therapeutic…” – Prof. Michael Belkin, Scientific Adviser.
- “We are seeing a clear, dose‑dependent effect… this data marks an essential step toward future clinical trials.” – Dr. Tali Kizhner, Director R&D.
Materiality Assessment: Material – Positive (preclinical breakthrough supporting future clinical development and financing update with potential $3.2 M proceeds).