NGEN:CC - NervGen Pharma Extends the Expiry Date of Certain Stock Options

Vancouver, British Columbia--(Newsfile Corp. - June 2, 2023) - NervGen Pharma Corp. (TSXV: NGEN) (OTCQX: NGENF) ("NervGen" or the "Company"), a clinical stage biotech company dedicated to developing innovative solutions for the treatment of nervous system damage, announced a two-year extension of the expiry date of certain stock options (the "Options") granted to a consultant of the Company on April 23, 2021 and July 16, 2021, such that the terms of the Options shall be extended from three (3) years to five (5) years following the original grant dates, respectively. All other terms of the Options, including the exercise price, remain the same.

About NervGen

NervGen is a clinical stage biotech company dedicated to developing innovative treatments that enable the nervous system to repair itself following damage, whether due to injury or disease. The Company's initial target indications are spinal cord injury, Alzheimer's disease, and multiple sclerosis. For more information, go to www.nervgen.com.

For further information, please contact:

Bill Adams, Chief Financial Officer
badams@nervgen.com

Huitt Tracey, Corporate Communications
htracey@nervgen.com
604.537.2094

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.

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