Vascudyne Receives BioBusiness Award from Regenerative Medicine Minnesota for Treatment of Nerve Injury

St. Paul, M.N.

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Vascudyne, Inc., a biotechnology trailblazer in regenerative medicine, announced today that it was awarded a grant from Regenerative Medicine Minnesota for a project titled "Development of a Peripheral Nerve Wrap Using Regenerative Engineering Tissue Tube".

The one-year, $100,000 grant will commence in June 2022 and utilize Vascudyne's TRUE™ Tissue technology that is unique and 100% natural. The TRUE Tissue allogeneic biomaterial is completely biological, non-immunogenic and regenerates by the host. Nothing synthetic or artificial is ever used in the manufacturing process, in contrast to other regenerative medicine soft tissue biomaterials made from synthetic polymer-based scaffolds that slowly degrade in the body and may lead to adverse immune response.

Chronic nerve compression is one of the most common peripheral nerve injuries with carpal tunnel syndrome being the most common type of nerve compression affecting 3-6% of the general population. Tissues isolated from the patient are used in surgery but have shortcomings such as donor site morbidity, limited availability, and risk of surgical complications.

"We are excited to expand our TRUE Tissue platform technology to other soft tissue applications such as nerve repair," said Rick Murphy, Vascudyne's Chief Operating Officer. "The exquisite regenerative properties of our 100% biological biomaterial combined with its non-immunogenic properties and off-the-shelf availability are a perfect fit for addressing the challenging nerve injury applications. Demonstrating these benefits in a preclinical nerve injury model will greatly advance the field of peripheral nerve injury and offer a promising alternative to current treatments that often lack complete and functional nerve repair."

Vascudyne has prioritized commercialization of its cardiovascular products and recently announced the first clinical results of its regenerative vascular conduit for hemodialysis access. "While we are initially focusing on cardiovascular applications for our TRUE Tissue technology, we continue research and development efforts in other soft tissue applications such as nerve injury repair," stated Dr. Zeeshan Syedain, Vascudyne's Chief Scientific Officer. "This grant from the Regenerative Medicine Minnesota will help accelerate our preclinical animal study timeline and demonstrate safety and efficacy of the TRUE Tissue technology as a peripheral nerve wrap."

Vascudyne licensed its proprietary TRUE Tissue technology developed by world renowned tissue engineering leader Robert Tranquillo, PhD, Distinguished McKnight University Professor, and his colleagues from the University of Minnesota in 2017.

TRUE Tissue products are not available for commercial sale.

About Vascudyne

Headquartered in the heart of Medical Alley in Minnesota, Vascudyne is on a mission to improve patient care with regenerative biomaterials that are inspired by nature. Vascudyne, a privately held company founded in 2014, uses the TRUE™ Tissue technology to develop TRUE to Nature™ biomaterials for soft tissue repair and replacement. For more information, please visit https://www.vascudyne.com/.

About TRUE™ Tissue Technology

TRUE™ Tissue is developed from cells isolated from donor tissue and is 100% biological. There are no synthetic materials or chemical fixation used, and implanted tissues are completely cell-derived and acellular. The TRUE™ Tissue technology can be readily shaped into tubes, sheets, and other geometries making it suitable for many soft tissue applications, is mechanically comparable to native tissues, and is a ready to use, off-the-shelf allograft.

Forward Looking Statements

This announcement contains forward-looking statements. Such statements may include, without limitation, statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions. These statements relate to future events or Vascudyne's clinical development programs, reflect management's current beliefs and expectations and involve known and unknown risks, uncertainties and other factors that may cause Vascudyne's actual results, performance or achievements to be materially different. Vascudyne undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future presentations or otherwise, except as required by applicable law.