Vancouver, British Columbia--(Newsfile Corp. - May 7, 2021) - NervGen Pharma Corp. (TSXV: NGEN) (OTCQX: NGENF) ("NervGen" or the "Company"), a clinical stage biotech company dedicated to developing innovative treatments for nerve damage and neurodegenerative diseases, today announced that the Company has granted 800,000 incentive stock options to an Officer of the Company exercisable at a price of $1.51 per share for a period of 10 years and that vest equally every six months over a two-year period. The options have been granted in accordance with the policies of the TSX Venture Exchange and the conditions of the Company's stock option plan.

About NervGen

NervGen is restoring life's potential by developing innovative treatments for nerve damage and neurodegenerative diseases. The Company is developing drugs for the treatment of multiple sclerosis, spinal cord injury and Alzheimer's disease. NervGen's platform technology targets protein tyrosine phosphatase sigma ("PTPσ"), a neural receptor that impedes nerve repair. Inhibition of the PTPσ receptor has been shown to promote regeneration and remyelination of damaged nerves, as well as improvement of nerve function in animal models for various medical conditions.

For further information, please contact:

Huitt Tracey, Corporate Communications
htracey@nervgen.com
c: 604.362.6209

Nancy Thompson, Vorticom Public Relations
nancyt@vorticom.com
212.532.2208

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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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