NurExone Biologic Inc. (TSXV: NRX, OTCQB: NRXBF, FSE: J90) has signed a binding memorandum of understanding (MOU) with Made Scientific, Inc. to establish an exclusive partnership for Good Manufacturing Practice (GMP) manufacturing and commercial supply of exosome-based therapeutics in the United States.

The collaboration leverages Made Scientific’s 60,000-square-foot FDA and EU GMP Annex 1 compliant facility in Princeton, New Jersey. NurExone intends to begin technology transfer immediately, targeting the initiation of first GMP exosome batches in the first half of 2027. This move supports the company’s lead candidate, ExoPTEN, and its broader strategy to build scalable US manufacturing infrastructure.

Partnership Structure and Terms

Under the binding MOU, Made Scientific will serve as NurExone’s exclusive US partner for manufacturing and aseptic fill-finish of bone marrow-derived exosomes. The proposed definitive agreement contemplates an initial term of five years, with options for successive five-year renewals.

The MOU includes a strict timeline: if a definitive agreement is not executed within six months of the MOU signing, the exclusivity grants and ongoing obligations will automatically terminate, subject to specified surviving obligations. This structure places immediate pressure on both parties to finalize due diligence and technical scope of work approvals.

Strategic Pivot from BioXtek

Concurrently, NurExone announced it has mutually agreed with Florida-based BioXtek Inc. not to proceed with a non-binding Letter of Intent (LOI) previously announced on April 7, 2026. This decision reflects a strategic consolidation of US GMP exosome manufacturing infrastructure under the new Made Scientific partnership. NurExone and BioXtek intend to explore potential collaborative business opportunities outside of direct production in the near future.

What the Numbers Show

The six-month deadline for executing a definitive agreement introduces significant operational urgency. While the MOU is binding regarding exclusivity during this negotiation window, the automatic termination clause means NurExone’s entire US manufacturing roadmap hinges on closing the final contract by early 2027. The shift from BioXtek to Made Scientific centralizes US operations, reducing partner dependency but increasing reliance on Made Scientific’s capacity at its Princeton facility.

Management Commentary

Dr. Lior Shaltiel, Chief Executive Officer of NurExone, stated that partnering with specialized organizations allows the company to focus on creating shareholder value while accelerating its therapeutic pipeline. Syed T. Husain, Chairman and CEO of Made Scientific, noted that the collaboration combines NurExone’s differentiated exosome platform with Made Scientific’s regulatory expertise to create an integrated pathway from development through commercial supply.

NurExone Biologic Inc. has appointed David Stolick to its Board of Directors, effective July 28, 2026, strengthening its governance as it advances exosome-based regenerative therapies. Stolick succeeds the late James "Jay" Richardson, whose leadership shaped the company during its formative years. The appointment brings extensive finance, capital markets, and M&A experience to the board, supporting NurExone’s growth strategy and disciplined execution.

Stolick previously served as VP of Finance at V-Wave Ltd., a U.S.-Israeli medical device company acquired by Johnson & Johnson in October 2024. He also held CFO roles at Exalenz Bioscience and BrainStorm Cell Therapeutics, and served as Corporate Controller at M-Systems. A Certified Public Accountant with a B.A. in Economics and Accounting from Ben-Gurion University, Stolick stated he looks forward to contributing his financial expertise to support long-term shareholder value.

In a separate corporate update, NurExone entered into an investor awareness engagement with Cashu Technologies Pty Ltd. ("Cashu"), an arm’s length party, for retail investor awareness services. The term ends no later than December 31, 2026, and is terminable by either party on 30 days’ notice. Cashu will receive US$2,500 per month for a monthly program, with an optional one-time fee between US$20,000 and US$40,000 for an additional campaign if elected by the company. Consideration is payable solely in cash, with no securities issued.

The engagement remains subject to acceptance by the TSX Venture Exchange. To the knowledge of NurExone, Cashu holds no direct or indirect interest in the company’s securities and has no right or intent to acquire such an interest. Yoram Drucker, Chairman of the Board, noted that Stolick understands what it takes to move from innovative technology to disciplined execution, adding that his perspective will be an important addition as the company continues to grow.

What the Numbers Show

The financial structure of the investor awareness engagement reflects a low fixed-cost model with scalable optional spending. The mandatory US$2,500 monthly fee ensures baseline retail outreach, while the optional US$20,000–US$40,000 campaign allows NurExone to amplify visibility selectively without committing upfront capital. This flexibility aligns with the company’s preclinical-stage profile, where capital preservation remains critical alongside regulatory milestones for its lead product, ExoPTEN.