Nervgen Pharma Corp. · NASDAQ:NGEN
Nervgen Pharma — Investor Presentation (May 2026)
36 slides from Nervgen Pharma's investor presentation, May 2026
Slide 1: Enabling the Nervous System to Repair Itself
Enabling the Nervous System to Repair Itself Corporate Presentation NASDAQ: NGEN May 2026
Slide 2: Our Mission at NervGen
Our Mission at NervGen: Our Mission: Establish a future where people with spinal cord injury… Regain Increase Transform Function Independence Their Lives 2 Photo: Codi, whose journey inspired Dr. Harold Punnett, the founder of NervGen Pharma
Slide 3: A Potential Opportunity to Define a New Treatment Paradigm
NervGen: A Potential Opportunity to Define a New Treatment Paradigm Potential First Mover in a >$20B Market Opportunity1 1 NVG-291 represents the potential first pharmacologic approval for chronic tetraplegia, a growing market of currently ~149K individuals in the U.S. alone.2 First Clinical Evidenc
Slide 4: NervGen is Supported by the Leading Institutions in Spinal Cord Injury
NervGen is Supported by the Leading Institutions in Spinal Cord Injury 4
Slide 5: The Spinal Cord Injury Community Deserves Better
The Spinal Cord Injury Community Deserves Better Adults in the U.S. living with Adults in the U.S. living with spinal cord injury1 ~48% of individuals with incomplete tetraplegia1 spinal cord injury are living ~312K with incomplete tetraplegia1 ~149K ~18.5K new cases annually ~9K new cases annually
Slide 6: Spinal Cord Injury Drives Significant Economic Burden and Loss of Independence
Spinal Cord Injury Drives Significant Economic Burden and Loss of Independence Economic and Societal Burden in the U.S. Hand Function: The Key to Independence of people with tetraplegia expect up to $8.3M Lifetime Costs per Patient up to ~$6M direct / ~$2.3M indirect lifetime costs, varying by sever
Slide 7: NVG-291: A Potential Blockbuster Opportunity in Chronic Tetraplegia
NVG-291: A Potential Blockbuster Opportunity in Chronic Tetraplegia ~10% market penetration in chronic tetraplegia supports a multi-billion dollar annual revenue opportunity Potential Annual Revenue Opportunity in the U.S.1 Key Opportunity Drivers1 Per 15,000 individuals with incomplete tetraplegia
Slide 8: CSPGs Create an Inhibitory Environment that Blocks Nervous System Repair
CSPGs Create an Inhibitory Environment that Blocks Nervous System Repair CSPGs Stabilize Existing Synapses and Prevent New Chondroitin sulfate proteoglycans (CSPGs) are extracellular Synapse Formation in Healthy & Damaged Tissue matrix molecules widely expressed in the central nervous system 1 (CNS)
Slide 9: NVG-291-R Restored Neuronal Growth In Vivo in Traumatic SCI Rodent Models
NVG-291-R Restored Neuronal Growth In Vivo in Traumatic SCI Rodent Models Before NVG-291 Thoracic & Lumbar 5-HT Staining at 12 Weeks Post-Injury1 Thoracic Spinal Cord: Axonal Sprouting CSPGs Vehicle Above Lesion Below Injury Injury NVG-291-R + NVG-291 Lesion After NVG-291 Lumbar Spinal Cord: Axonal
Slide 10: NVG-291-R Restored Neuronal Growth In Vitro in the Presence of CSPGs
NVG-291-R Restored Neuronal Growth In Vitro in the Presence of CSPGs Before Treatment1 After NVG-291-R Treatment1 Play with solid fill Click Here to Play Click Here to Play (1) Lang, B. T. et al., Nature 2015 Feb 19;518(7539):404-8. 10
Slide 11: NVG-291-R Restored Significant Function in Traumatic SCI Rodent Models
NVG-291-R Restored Significant Function in Traumatic SCI Rodent Models Control Group1 After NVG-291-R Treatment1 Play with solid fill Click Here to Play • Immobile hind legs & lack of tail control • Significant motor recovery & consistent coordination • Toe clearance & tail held high constantly (1)
Slide 12: NVG-291-R Restored Durable Function in Chronic Traumatic SCI Rodent Models
NVG-291-R Restored Durable Function in Chronic Traumatic SCI Rodent Models Forelimb Function1 14 P<0.001 Treatment Period ≥11 *** fine Forelimb Locomotor Rating Scale2 P<0.01 12 P<0.05 motor control * ** 10 8-10 Inconsistent stepping 8 6 4 ≤7 Joint-level movements 2 0 Baseline Week 12 Week 16 Week 2
Slide 13: NVG-291 Program Overview
NVG-291 Program Overview 13
Slide 14: Phase 1b/2a CONNECT SCI Study in Chronic Tetraplegia
Phase 1b/2a CONNECT SCI Study in Chronic Tetraplegia (1-10 Years Post-Injury) Study completed June 2025 | Mean time post-injury: ~3.5 years No NVG-291 (n=10) Intervention Screening No Placebo (n=10) Intervention Week 12 Week 16 Primary Endpoint Key Overview Endpoint Framework • n=20 Co-Primary Endpo
Slide 15: NVG-291 Demonstrated Potential to become First Approved Pharmacologic Treatment for Chronic Tetraplegia
NVG-291 Demonstrated the Potential to become the First Approved Pharmacologic Treatment for Chronic Tetraplegia GRASSP Quantitative Prehension (QtP) Multi-Domain Evidence of Meaningful Benefit FDA alignment as RESTORE registrational primary endpoint Clinically Meaningful Improvement with NVG-291 • 7
Slide 16: NVG-291 Significantly Increased Upper-Body Corticospinal Signaling
NVG-291 Significantly Increased Upper-Body Corticospinal Signaling, Supporting the Biological Basis for Recovery of Voluntary Functional Hand Use MEP Magnitude in FDI Muscle (Hand) MEP Magnitude in TA Muscle (Leg) NVG-291 NVG-291 14 Placebo 10 Placebo CFB – Normalized MEP Magnitude (% of max) 12 CFB
Slide 17: NVG-291 Significantly Reduced Maladaptive Reticulospinal Hyperactivity
NVG-291 Significantly Reduced Maladaptive Reticulospinal Hyperactivity in the Upper and Lower-Body, Supporting the Biological Basis for Systemic Recovery Startle-MEP Magnitude in FDI Muscle (Hand) Startle-MEP Magnitude in TA Muscle (Leg) NVG-291 NVG-291 0 Placebo 0 Placebo CFB – Normalized Startle-M
Slide 18: GRASSP Quantitative Prehension: A Validated Measure of Functional Hand Use
GRASSP Quantitative Prehension: A Validated Measure of Functional Hand Use Tip-to-Tip Pinch Lateral Key Pinch Cylindrical Grasp Tripod Pinch Primary efficacy analysis used to define treatment responders for ARCEX, currently FDA-Recognized Endpoint the only FDA-cleared treatment for chronic tetrapleg
Slide 19: NVG-291 Delivered Clinically Meaningful Improvement in Functional Hand Use
NVG-291 Delivered Clinically Meaningful Improvement in Functional Hand Use GRASSP Quantitative Prehension (Δ from Baseline) Key Takeaways and Results Week 12 Week 16 • NVG-291 exceeded the clinically meaningful threshold 5 End of 12-week treatment 4-weeks after treatment cessation (MID: +2.0) by 85%
Slide 20: NVG-291 Outperformed Placebo Across All GRASSP QtP Components (Pinch)
NVG-291 Outperformed Placebo Across All GRASSP Quantitative Prehension Components, With Effects Continuing After Treatment Cessation Tip to Tip Pinch Lateral Key Pinch Week 12 Week 16 Week 12 Week 16 End of 12-week treatment 4-weeks after treatment cessation End of 12-week treatment 4-weeks after tr
Slide 21: NVG-291 Outperformed Placebo Across All GRASSP QtP Components (Grasp)
NVG-291 Outperformed Placebo Across All GRASSP Quantitative Prehension Components, With Effects Continuing After Treatment Cessation Cylindrical Grasp Tripod Pinch Week 12 Week 16 Week 12 Week 16 End of 12-week treatment 4-weeks after treatment cessation End of 12-week treatment 4-weeks after treatm
Slide 22: NVG-291 Drove Improvements Up to 5x the Clinically Meaningful Threshold
NVG-291 Drove Improvements Up to 5× the Clinically Meaningful Threshold in Functional Hand Use — Potentially Unprecedented in Chronic Tetraplegia NVG-291 Subject-Level GRASSP QtP Placebo Subject-Level GRASSP QtP 12 +11 12 10 10 Change from Baseline to Week 12 (Points) Change from Baseline to Week 12
Slide 23: NVG-291's Treatment Effect is Reinforced by Established Natural History
NVG-291's Treatment Effect is Reinforced by Established Natural History Chronic Tetraplegia is a Functionally Stable Population GRASSP QtP in the Context of Week 12 Efficacy • Neurological recovery plateaus by 12 months post-injury.1 NVG-291 Observed change at Week 12 from randomized, +3.7 • Majorit
Slide 24: Understanding the Potential Real-World Benefit of NVG-291
Understanding the Potential Blinded Qualitative Exit Interviews Conducted up to Real-World Benefit of NVG-291 1-Year following Study Completion (mean: 259 days)1 Improved Patient Global Impression • Sustained, wide-ranging functional of Change (PGIC) Scale: gains in upper and lower-body movement 75%
Slide 25: Improvements Reflected in Participants' Own Words, While Still Blinded
Improvements Reflected in Participants’ Own Words, While Still Blinded Renewed Daily Independence Strengthened Bladder Control “ I can now take care of myself: brush my hair, brush my teeth, cut my own food. I’ve even started working on art projects. I “ Before the study, I couldn’t go four hours wi
Slide 26: Three Biomechanical Hallmarks Distinguish Recovery from Compensation
Three Biomechanical Hallmarks Distinguish Recovery from Compensation1: Coordination, Mechanical Effort, and Postural Stability Study Participant ~3 Years Post-Transport Related C3 Spinal Cord Injury Baseline: Unable to Complete 10 Meters2 Week 12: Completed 10 Meters in 53 Seconds2 PLAY HERE PLAY HE
Slide 27: NVG-291 Drove Significant Recovery of Genuine Walking Function vs Placebo
NVG-291 Drove Significant Recovery of Genuine Walking Function vs Placebo The global statistical test (GST) integrates the three hallmarks of recovery – coordination, mechanical effort, and postural stability – into a single recovery outcome score to quantify the magnitude of treatment benefit. Glob
Slide 28: All NVG-291 Subjects Outperformed Placebo Across the Hallmarks of Recovery
All NVG-291 Subjects Outperformed Placebo Across the Hallmarks of Recovery Blinded analyses by Newton Tech; statistics by leading academic medical center. Each subject scored head-to-head vs. each patient in the opposing arm across the three hallmarks; responder = composite score above zero.1 Pairwi
Slide 29: NVG-291 was Generally Well-Tolerated with All Subjects Completing Treatment
NVG-291 was Generally Well-Tolerated with All Subjects Completing the 12-Week Treatment Period • No treatment-related serious adverse events (AEs) Favorable Safety & • Most common AE: mild/moderate injection site reaction Tolerability Profile • No clinically significant laboratory or vital sign abno
Slide 30: RESTORE Registrational Study Designed for Broad Label in Chronic Tetraplegia
RESTORE Registrational Study Designed for Broad Label in Chronic Tetraplegia No NVG-291 (n=75) Intervention Open Label Screening Extension No Placebo (n=75) Intervention Week 12 Week 16 Primary Endpoint Key Overview1 Endpoint Framework • n=150 (1-10 years post-injury) Change from Baseline in GRASSP
Slide 31: NervGen is Poised for Transformational Value Creation
NervGen is Poised for Transformational Value Creation Completed Milestones Anticipated Near-Term Catalysts 2Q 2025 MID-2026 CONNECT SCI Topline Data in Chronic Tetraplegia Initiation of Phase 3 RESTORE registrational study in chronic tetraplegia 3Q/4Q 2025 CONNECT SCI Expanded Clinical Findings in M
Slide 32: Advancing NVG-291 Across Multiple Indications of Significant Unmet Need
Advancing NVG-291 Across Multiple Indications of Significant Unmet Need PRODUCT CANDIDATE INDICATION PRECLINICAL PHASE 1 PROOF OF CONCEPT REGISTRATIONAL Chronic Tetraplegia (1-10 years post-injury) NVG-291 Subacute Tetraplegia (20-90 days post-injury)1 (PTPσ mimetic) Additional Neurotraumatic and Ne
Slide 33: Enabling the Nervous System to Repair Itself
Enabling the Nervous System to Repair Itself 33
Slide 34: Appendix
fs ao} c 7 a. 2. <x
Slide 35: Phase 1b/2a CONNECT SCI Baseline Subject Characteristics
Phase 1b/2a CONNECT SCI Baseline Subject Characteristics NVG-291 (N=10) Placebo (N=10) Subject Characteristics – N (%) Age – Mean (SD) 43.0 (19.7) 50.3 (15.0) No. of Males (% Male) 8.0 (80.0%) 9 (90.0%) Years since Spinal Cord Injury – Mean (SD) 3.1 (2.4) 3.8 (3.0) Cause of Injury Fall 1.0 (10.0%) 2
Slide 36: Phase 1b/2a CONNECT SCI Safety Profile
Phase 1b/2a CONNECT SCI Safety Profile NVG-291 (N=10) Placebo (N=10) % of Subjects with at least one TEAE All 10.0 (100.0%) 8.0 (80.0%) Injection Site-Related 9.0 (90.0%) 3.0 (30.0%) Fatigue 1.0 (10.0%) 2.0 (20.0%) Nausea 2.0 (20.0%) 1.0 (10.0%) Urinary Tract Infection 3.0 (30.0%) 0.0 (0.0%) Nasopha