Mr. Philippe Deschamps reports

CHITOGENX RECEIVES NOTICE OF ALLOWANCE FOR KEY PATENT IN UNITED STATES AND CANADA

Chitogenx Inc. has received a notice of allowance for a key patent in the United States and Canada. The patent confers protection for usage of the chitosan-based biopolymer as a stand-alone scaffold or in combination with other therapeutic agents such as biologics.

"The receipt of this notice of allowance for a patent in the key U.S. and Canadian jurisdictions makes our proprietary chitosan-based biopolymer scaffold significantly more valuable to potential partners and recognizes its unique characteristics for much broader regenerative medicine applications when compared to our existing PRP-chitosan proprietary platform," said Philippe Deschamps, chief executive officer of Chitogenx. "We are currently evaluating opportunities for fast-track regulatory programs with potential 510(k) premarket submissions in the U.S. and commercial readiness in other jurisdictions. We expect to announce our plans to take full advantage of the broad clinical and commercial opportunities now available to us in the coming months."

About Chitogenx Inc.

Chitogenx 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 Ortho-R technology platform, a muco-adhesive chitosan-based biopolymer matrix, specifically designed to deliver biologics such as platelet-rich plasma (PRP) or bone marrow aspirate concentrate (BMAC), to enhance healing in various regenerative medicine applications.

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.

We seek Safe Harbor.