NurExone's ExoPTEN Shows Promising Preclinical Results in Eye Disease Treatment
NurExone Biologic Inc. has revealed promising preclinical results for its lead candidate, ExoPTEN. The drug shows a clear, dose-dependent affect in treating eye conditions, with stronger functional recovery at higher doses. Meanwhile, the company is bolstering its communication agreement and potentially securing C$3.2 million through warrant exercises.
ExoPTEN's regenerative affect is reproducible and quantifiable, scaling with the dose. In an eye model of glaucoma, the optic nerve crush (ONC) model, ExoPTEN produced a reproducible, dose-dependent effect. Functional measurements using scotopic threshold response electroretinography (STR-ERG) showed improved visual signal strength in injured animals, with the high-dose group achieving responses comparable to uninjured eyes. The company has extended its agreement with POSITIVE Communications, adding a nine-month extension and a monthly expense reimbursement of up to NIS 30,000 plus VAT in addition to the monthly fee of NIS 15,000 plus VAT, subject to TSXV approval.
The company is also accelerating the expiration date of certain warrants, which could result in gross proceeds of approximately C$3.2 million if all warrants are exercised. This move could provide a significant boost to the company's communication skills as it continues its research and development efforts.
ExoPTEN's potential to produce reproducible repair of damaged optic nerves in small animals is a significant step towards addressing vision loss in patients with optic nerve damage. With the company's financial boost from warrant exercises and extended communication agreement, NurExone Biologic Inc. is well-positioned to continue its promising research and development efforts in the eye disease sector.
