CHITOGENX LAUNCHES BURN AND SKIN REPAIR DEVELOPMENT PROGRAM

• Significant unmet medical needs in US $19B burn and skin defects market
  
• New patent in US and Canada supports ChitogenX' proprietary chitosan-based biopolymer as ideal combination with cellular regeneration technologies
  
• Potential for streamlined regulatory process, and faster path to commercialization
  
• Both burn and skin repair program to be primarily funded by recently awarded $3.4 M grant

MONTREAL, Nov. 7, 2023 /PRNewswire/ - ChitogenX Inc., (CSE: CHGX) (OTCQB: CHNXF) ("ChitogenX" or the "Company"), a clinical-stage regenerative medicine company, today announced that it has launched a new development program targeting significant unmet medical needs in the burn and skin repair market, currently valued at US $19B and growing at 5% + CAGR through 2032. Proof of concept studies have already been successfully completed and results will be the subject of news releases in the coming weeks. 

"ChitogenX wishes to leverage positive data in proof-of-concept studies combined with the recently obtained US and Canadian patents for our chitosan-based biopolymer. Burn and skin repair programs potentially allow for efficient clinical trial development program, streamlined regulatory process and faster path to commercialization'', said Philippe Deschamps, President and CEO. ''The Company's proprietary chitosan-based biopolymer is well suited to help address significant unmet medical needs to repair skin defects caused by burns, other trauma and wounds of various aetiologies, alone or in combination with other cellular technologies, due to its unique characteristics allowing it to adhere to tissues thus facilitating the delivery of various therapeutic interventions to its target tissue when compared to standard of care", continued Deschamps.   

While pursuing its' soft tissue repair programs, ChitogenX believes that targeting the skin integrity market will allow ChitogenX to leverage its ongoing work in the ortho-regenerative market where our technology is being evaluated to deliver therapeutic compounds such as PRP to patients in need.  

ChitogenX Inc. is a clinical stage regenerative medicine company dedicated to the development of novel therapeutic tissue repair technologies to improve tissue healing. The Company is committed to the clinical development of its proprietary Chitosan Based Biopolymer technology platform, a proprietary muco-adhesive scaffold, specifically designed to be combined with therapeutics to improve tissue repair.

Other formulations are being developed to leverage the technology's performance characteristics such as tissue adhesion, pliability, and ability to deliver biologics or therapeutics to various tissues damaged by trauma or disease. Further information about ChitogenX is available on the Company's website at www.chitogenx.com and on SEDAR at www.sedar.com.

Forward-Looking Statements

This news release may contain certain forward-looking statements regarding the Company's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE Ortho Regenerative Technologies Inc.