NeuroSense Raises $4.5 Million to Boost Innovative Brain Monitoring Technology

NeuroSense Therapeutics Ltd. (Nasdaq: NRSN) has just announced a major coup – a securities purchase agreement with a single health-care focused institutional investor. The agreement involves 3,000,000 ordinary shares in a registered direct offering and the purchase of 3,000,000 ordinary shares with accompanying ordinary warrants, which are exercisable at $1.50 per share.

These warrants extend for a five-year period, giving the purchaser ample time to maximize their gains. The secured agreement is an exciting development for NeuroSense, as it moves closer to its goal of treating severe neurodegenerative diseases.

The Company is pleased to announce the closing of its offering on or about June 26, 2023, where an expected $4.5 million in gross proceeds will be dedicated to pushing forward with the clinical development of its lead product candidate, PrimeC for ALS, as well as further preclinical and clinical research for potential investigation of new drug applications for Alzheimer’s disease, Parkinson’s disease, and other related indications.

Funds will also be allocated to future research and development of new product candidates, as well as working capital to enhance and sustain general corporate progress. A.G.P./Alliance Global Partners is honored to be acting as sole placement agent for this offering.

Investors have the opportunity to participate in a registered direct offering of ordinary shares and ordinary share equivalents in lieu of the same, pursuant to an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective as of January 30, 2023. Concurrently, investors also have the opportunity to purchase ordinary warrants in a private placement.

The concurrent private placement of the ordinary warrants is exempt from registration requirements under Section 4(a)(2) of the Securities Act and/or Regulation D. As such, these securities cannot be sold or offered in the United States unless they are registered or exempt from registration under the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About NeuroSense

Feelings of hopelessness have permeated the minds of people suffering from debilitating neurodegenerative diseases like ALS, Alzheimer’s, and Parkinson’s, which have no known clear-cut treatments. NeuroSense Therapeutics, Ltd is here to take on the challenge to put a stop to this, with cutting-edge research that’s focused on the development of a combination therapy that targets multiple pathways associated with these diseases.

This revolutionary approach brings us one step closer to conquering the previously insurmountable goal of treating these diseases, and finding light at the end of the tunnel for those suffering from them.

Forward-Looking Statements

NeuroSense is excited to announce its plans for the proposed offering and the timing of top-line results of its PARADIGM clinical trial along with its commitment to the co-development of its PD assets with collaborators with a core focus on PD. However, the results of the trials could differ from anticipated projections due to a host of risks and uncertainties such as delays in the reporting of top-line results, delays in commencement of Phase 2 study in AD, discrepancies between the preliminary and final results of the PD Biomarker Study, and the potential failure to sign co-development agreements with collaborators with a core focus on PD.

Furthermore, the success of NeuroSense’s PrimeC development programs, its preclinical and clinical data for PrimeC, the timing of current and future clinical trials, and the nature, strategy and focus of NeuroSense are all prone to risks. Though NeuroSense is optimistic on its prospects, it is aware of the potential expense increase for the rest of 2023 as stated in its Annual Report on Form 20-F filed with the SEC on March 22, 2023.

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