The Company's common shares will continue to trade on Nasdaq under the symbol "NGEN"
No action is required; all shareholders, including Canadian shareholders, will continue to maintain full trading access on Nasdaq

VANCOUVER, British Columbia, March 12, 2026 (GLOBE NEWSWIRE) -- NervGen Pharma Corp. ("NervGen" or the "Company") (TSXV:NGEN) (NASDAQ:NGEN), a clinical-stage biopharmaceutical company developing first-in-class neuroreparative therapeutics for spinal cord injury (SCI) and other neurotraumatic and neurologic conditions, today announced that the Company has elected to voluntarily delist its common shares from TSX Venture Exchange ("TSXV"), effective at the close of markets on March 16, 2026.

This strategic decision reflects NervGen's continued maturity and aligns with the Company's evolution as it enters late-stage development for NVG-291. Following a comprehensive evaluation, the Company determined that maintaining a dual listing on TSXV does not justify the associated costs and administrative requirements. The voluntary delisting is intended to eliminate duplicative exchange fees, reduce legal, accounting, and regulatory complexity, and enable greater management focus on clinical execution and long-term shareholder value creation.

All shareholders, including Canadian shareholders, will continue to maintain full trading access of their common shares on Nasdaq. No action is required by shareholders in connection with the voluntary delisting. Shareholders with account-specific questions are encouraged to contact their respective brokers.

The voluntary delisting from TSXV was approved by the Company's Board of Directors. In accordance with TSXV policies, shareholder approval is not required as the Company's common shares are listed on an acceptable alternative market. NervGen will continue to be a reporting issuer under applicable securities laws in all provinces and territories of Canada.

In connection with the voluntary delisting from TSXV, the Company has terminated its previously announced at-the-market equity program (the "ATM Program"), launched on December 19, 2025. From January 1, 2026, through March 12, 2026, the Company issued 245 common shares under the ATM Program at a weighted average price of $6.20 per common share, for aggregate net proceeds of $1,489.

About NervGen Pharma

NervGen Pharma Corp. (TSXV:NGEN) (NASDAQ:NGEN) is a clinical-stage biopharmaceutical company developing first-in-class neuroreparative therapeutics for spinal cord injury (SCI) and other neurotraumatic and neurologic conditions. The Company's mission is to transform the lives of individuals living with SCI by enabling the nervous system to repair itself. NervGen's lead therapeutic candidate, NVG-291, is a subcutaneously administered, neuroreparative peptide. NVG-291 was evaluated in the Phase 1b/2a CONNECT SCI Study in individuals with chronic SCI between 1 to 10 years post-injury and is the first pharmacologic candidate to demonstrate durable improvement in function, independence, and quality of life. The Company's Phase 1b/2a CONNECT SCI Study in individuals with subacute SCI is ongoing, alongside preparation for a Phase 3 clinical trial in chronic SCI. NVG-291 has received Fast Track designation from the FDA and Orphan Drug designation from the European Medicines Agency (EMA) for the treatment of SCI. Through NVG-291 and the Company's next-generation candidate, NVG-300, NervGen is pursuing a pharmacologic approach to transform the treatment paradigm for neurotraumatic and neurologic conditions with significant unmet medical need. For more information, visit www.nervgen.com and follow NervGen on X and LinkedIn.

Contacts

Huitt Tracey, Investors

htracey@nervgen.com

604.537.2094

David Schull or Ignacio Guerrero-Ros, Ph.D., Media

Russo Partners

David.Schull@russopartnersllc.com

Ignacio.Guerrero-Ros@russopartnersllc.com

858.717.2310

Adam Rogers, President and CEO

info@nervgen.com

778.731.1711

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.

Cautionary Note and Forward Looking-Statements

This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Such forward-looking statements 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, and 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. Forward-looking statements include, without limitation, statements relating to: the benefits expected from the voluntary delisting from TSXV, including the elimination of duplicative exchange fees, reduction in legal, accounting and regulatory complexity, and enabling greater management focus on clinical execution and long-term shareholder value creation; the Company's evolution and maturity as it enters late-stage development for NVG-291; the Company's potentially best-in-class candidate, NVG-291; the potential broad therapeutic applications of NVG-291; the future growth of the Company; the Company's mission to transform the lives of individuals living with spinal cord injury; the Company's pursuit to revolutionize the treatment paradigm for neurotraumatic conditions with significant unmet medical need; the objectives, planned clinical endpoints, timing, expected rate of enrollment, and final results from our Phase 1b/2a clinical trial of NVG-291 in individuals with spinal cord injury; and the creation of neuroreparative therapeutics to enable the nervous system to repair itself in settings of neurotrauma and neurologic disease. Forward-looking statements are based on estimates and assumptions made by the company in light of management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable in the circumstances. In making forward-looking statements, the Company has relied on various assumptions, including, but not limited to: its ability to obtain future funding on favorable terms, if at all; the accuracy of its financial projections; obtaining positive results in its clinical trials; its ability to obtain necessary regulatory approvals; its ability to arrange for the manufacturing of its product candidates and technologies; and general business, market and economic conditions. Many factors could cause the Company's actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including without limitation, a lack of revenue, insufficient funding, reliance upon key personnel, the uncertainty of the clinical development process, competition, and other factors set forth in the "Risk Factors" section of the Company's most recently filed prospectus supplement, short form base shelf prospectus, annual information form, financial statements and management discussion and analysis all of which can be found on NervGen's profile on SEDAR+ at www.sedarplus.ca and in NervGen's Form F-10/A filed on EDGAR at www.edgar.com. All clinical development plans are subject to additional funding. Readers should not place undue reliance on forward-looking statements made in this news release. Furthermore, unless otherwise stated, the forward-looking statements contained in this news release are made as of the date of this news release, and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

NervGen Pharma Announces Voluntary Delisting from TSX Venture Exchange