NervGen Pharma Corp. (TSXV: NGEN) (OTCQB: NGENF) (“NervGen” or the “Company”), a regenerative medicine company dedicated to creating innovative solutions for the treatment of nerve damage including spinal cord and peripheral nerve injury, today announced that in addition to trading on the TSX Venture Exchange, its common shares will commence trading today on the OTCQB Venture Market under the symbol “NGENF”.
"The commencement of trading in the United States is an important step in our corporate plan to increase awareness with the broader financial community and generate more share liquidity," stated Bill Radvak, Executive Chairman of NervGen.
NervGen also announced that, subject to TSX Venture Exchange approval, it has retained Toronto-based Independent Trading Group (ITG), Inc. ("ITG"), Canada's only brokerage firm dedicated specifically to professional trading, to provide market making services to the Company in compliance with the policies of the TSX Venture Exchange and applicable legislation. ITG will trade shares of NervGen on TSXV with the objective of maintaining a reasonable market and improving the liquidity of NervGen's common shares. Under the terms of the agreement, ITG will receive $5,000 per month which the Company will pay from its unallocated working capital. The agreement will continue in effect unless terminated by either party on a thirty day written notice after the initial three month period. There are no performance requirements contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities, but ITG and its clients may have an interest, directly or indirectly, in the Company's common shares.
NervGen plans to initiate a Phase 1 human clinical trial for its lead compound, NVG-291, in early 2020 under an Investigational New Drug application with the US Food and Drug Administration. NervGen is advancing NVG-291 for the treatment of spinal cord injury as the Company believes this indication is a significant opportunity due to the current lack of non-surgical solutions in the market, the dramatic impact on quality of life and the high cost burden to the healthcare system. The Company believes NVG-291 as a therapy could alleviate or improve upon the symptoms and conditions associated with spinal cord injury and empower these patients to live more active and productive lives.
NervGen is restoring life's potential by creating innovative solutions for the treatment of nerve damage, including spinal cord injuries and peripheral nerve injuries. The Company also continues to research secondary applications such as multiple sclerosis, acute myocardial infarction induced arrhythmia ("AMI", commonly known as a heart attack), stroke and other neurodegenerative diseases.
Independent Trading Group specializes in market maintenance services and has been providing its market maintenance services to companies ranging from TSXV listed companies to certain of Canada's largest publicly traded companies for over 20 years. Independent Trading Group is a member of the Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF), and is a member of all Canadian Stock Exchanges and Alternative Trading Systems.
Bill Radvak, Executive Chairman
bradvak@nervgen.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Such forward-looking statements and information herein include, but are not limited to, the Company's current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward-looking statements, including, without limitation, statements regarding advancement of NVC-291 toward clinical development and commercialization, the timing of human trials and regulatory approval, the potential efficacy of the Company's products and technology, and the potential to identify, evaluate and develop other drug candidates. The words "may", "will", "would", "should", "could", "expect", "plan", "intend", "trend", "indication", "anticipate", "believe", "estimate", "predict", "likely" or "potential", or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements.
