CHITOGENX SIGNS MEMORANDUM OF UNDERSTANDING WITH CALIFORNIA MEDICAL INNOVATIONS INSTITUTE (CALMI²)

• This Memorandum, between CALMI² and ChitogenX will identify collaborative projects and pursue proof of concept research programs utilizing ChitogenX's proprietary regenerative medicine solutions to improve patient outcomes.
  
  
• Dr. Kassab's group has obtained nearly $100M worth of extramural research grants to fund scientific medical developments

MONTREAL, Oct. 19, 2022 /CNW Telbec/ - ChitogenX Inc., (CSE: CHGX) (OTCQB: CHNXF) ("ChitogenX" or the "Company") a clinical-stage regenerative medicine company focused on the development of novel regenerative medicine technologies, today announced a partnership with the California Medical Innovations Institute, led by its founder Ghassan Kassab PhD.

"Our Collective vision is to bring together physical and life science researchers, clinicians, engineers, and computational scientists to address the significant health care challenges such as posed in the field of Regenerative Medicine," said Dr. Kassab. Dr. Kassab's group has obtained nearly $100M worth of extramural research grants to fund scientific medical developments including internal programs and collaborations with the life science industry helping bring solutions from bench to bedside.

"We are honored to work with Dr. Kassab and the CALMI²  team to ensure the research we help sponsor is designed and completed with diligence and care and leads to solutions for high unmet medical needs." Said ChitogenX CEO Philippe Deschamps.

The first focus of the partnership will evaluate whether ChitogenX lyophilised chitosan matrix, combined with platelet rich plasma or other biologics can improve healing of a range of tissues germane to common surgical practice. For instance, resection of the human pancreas as is done for various tumors, is often compromised by leakage of damaging enzymes that lead to a stormy, and expensive post-operative course.  The concept of using ChitogenX proprietary solution to address this problem would be clinically and economically meaningful.

About ChitogenX Inc.

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 RESTORE 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.  Further information about ChitogenX is available on the Company's website at www.chitogenx.com and on SEDAR at www.sedar.com.

About California Medical Innovations Institute

The California Medical Innovations Institute (CalMI²) was formed in July 2014 as a 501(c)3 non-profit organization exclusively for research, scientific and innovation purposes. The basic premise for the foundation of CalMI² is that an institute that functions as an "innovation engine" in collaboration with clinicians and industry will be very effective at clinical translation. Specifically, CalMI² is dedicated to conducting basic and applied research to advance translation of diagnostics and therapeutics for the improvement of human health.

The Institute fosters an innovative research environment with a multidisciplinary and collaborative approach to the discovery process – bringing together physical and life science researchers, clinicians, engineers, and computational scientists to address the significant health care challenges of heart and vascular disease, gastrointestinal, obesity, and metabolic disorders through a multi-scale understanding of organ systems.

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 ChitogenX

Company: Philippe Deschamps, President and Chief Executive Officer, 614-596-2597, [email protected] or Investors: Frederic Dumais, Director Communications and Investor Relations, [phone], [email protected]