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James Richardson, the Former CEO of EnerSpar, Updates Shareholders After the Completion of RTO with NurExone Biologic
Calgary, Alberta--(Newsfile Corp. - August 9, 2022) - NurExone Biologic Inc. (TSXV: NRX) (fo...
About this update from Nurexone Biologic Inc
[{"type":"text","content":"James Richardson, the Former CEO of EnerSpar, Updates Shareholders After the Completion of RTO with NurExone BiologicCalgary, Alberta--(Newsfile Corp. - August 9, 2022) - NurExone Biologic Inc. (TSXV: NRX) (formerly, EnerSpar Corp.) (the \"Company\" or \"NurExone\"), a biopharmaceutical company developing biologically-guided exosome therapy for patients with traumatic spine injuries, released excerpts from a letter uploaded to Sedar today from Mr. Jay Richardson, Former CEO of EnerSpar and current director of NurExone to EnerSpar's shareholders. In the letter, Mr. Richardson thanked EnerSpar's shareholders for their support during his tenure as CEO and during the RTO process that began in August 2021 and was recently completed resulting in the listing of NurExone Biologic Inc on the TSXV. The letter noted Mr. Richardson's enthusiasm for NurExone's growth outlook and his intention to continue with NurExone as a director for the immediate future. Mr. Richardson highlighted certain aspects of NurExone's market drivers as follows:The Company is developing exosome-based technology and products.NurExone has the technology and know-how necessary to produce exosomes and load them with therapeutic molecules creating ExoTherapies that are biologically guided to select anatomies. ExoTherapies are expected to be suited for wide patient populations due to their immune evasion, off-the-shelf use, and intranasal administration.Exosomes have the potential to emerge as a strong drug delivery system.The global exosome market alone is expected to reach US$2.28 billion by 2030; North America accounts for the largest portion of the share.1 NurExone are the developers of the first intranasal and \"off-the-shelf\" exosome-based product to treat trauma to the spinal cord, brain and other central nervous system indications. Target unmet need for functional-recovery based treatment for acute spinal cord injuriesNurExone's first product ExoPTEN is largely set to capitalize on the tremendous need for functional-recovery based spinal cord treatment. Between 250,000 and 500,000 people suffer from traumatic spinal cord injuries each year. Depending on the type and severity of the spinal injury, the current costs of treatment can be over US$1.5 million/patient in direct medical costs.2 Beyond this, there are significant indirect costs due to loss of patient mo...