By Brad Sorensen, CFA

OTC:NRXBF

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NurExone (OTC:NRXBF) is a clinical stage biotech company that is developing an off-the-shelf, non-invasive and novel treatment for the reversal or reduction of paralysis following spinal cord injury using exosome-based (membrane-bound extracellular vesicles) patent-pending technology. But that one sentence description fails to appropriately describe the vast potential that we see developing in the company.

Briefly, the first part of that description should not be taken lightly. The company is endeavoring to restore function to patients that have lost the ability to control portions of their bodies, such as the ability to walk or breath on their own, due to a spinal cord injury—injuries for which there are no known treatments. According to the World Health Organization there are an estimated 250,000–500,000 people globally that suffer from spinal cord injuries annually, with 90% of these injuries stemming from traumatic causes such as vehicle accidents, workplace incidents, or sports-related mishaps.

NurExone is developing a product known as ExoPTEN that is designed to treat patients with acute spinal cord injuries and these numbers suggest a potential market for ExoPTEN of approximately 50,000 new cases globally per year—an enormous market potential with patients eager to have the opportunity to return to some form of normalcy and dramatically improve their quality of life.

It was the test results from the use of ExoPTEN that sparked our enthusiasm for the company, because the initial test results are, in our view, truly remarkable. This isn’t a potential treatment that was arrived at quickly or easily as research began at the University level and was conducted between January 2017 and May 2020, including testing the use of intranasal administration of exosomes driven from mesenchymal stem cells loaded with siRNA. Testing targeted a complete spinal cord transection in rats, which is the strictest animal testing model, successfully demonstrating significant functional recovery. The company notes that the technology is successfully proven in additional preclinical studies, demonstrating that intranasal administration of ExoPTEN led to significant motor improvement, sensory recovery, and faster urinary reflex restoration. As mentioned, the research began at the University level and the Company has been granted an exclusive worldwide license from the Technion and Tel Aviv University, which includes a patent application, to develop and commercialize the technology. In addition, the Company has developed its own intellectual property and now has five families of patents.