Nexien BioPharma Announces Executive and Business Updates

Nexien BioPharma, Inc. (“Nexien” or the “Company”) (OTCQB:NXEN), a next generation biopharmaceutical company focused on research, development and commercialization of novel FDA-compliant cannabinoid pharmaceuticals and related drug delivery systems, today announced executive and business updates.

Dr. Joseph F. Aceto, JD, Ph.D. has been appointed as the Company’s Interim Director of Translational Research. In this role, Dr. Aceto will oversee the ongoing evolution of Nexien’s research programs, to develop, license, and commercialize pharmaceuticals utilizing cannabinoids as the Active Pharmaceutical Ingredients (APIs). Dr. Aceto has more than 30 years of scientific, business, legal, and intellectual property experience, with a focus on supporting patented technologies in the pharmaceutical and biotechnology industries. Dr. Aceto will retain his existing role as Vice President, Legal and Intellectual Property counsel.

Dr. Michael Fenn, Ph.D., a member of Nexien’s Scientific Advisory Board, has joined Harvard Innovation Labs as Director, Healthcare and Life Sciences. Dr. Fenn has over a decade of experience in life science and advanced materials research and development with a diverse background in nanomaterials, biomaterials, oncology, drug delivery, medical devices, and diagnostics. He has been involved with the launch and growth of multiple successful early-stage life science startups, directing pre-clinical R&D efforts, overseeing intellectual property development, and guiding overall business and scientific strategy.

Nexien also announced that it has withdrawn its listing application with the Canadian Stock Exchange (“CSE”) based on indications from the Ontario Securities Commission of a protracted application process and timeline. While the Company may reconsider applying at the appropriate time for a listing on the CSE, management has determined to focus its resources on advancing its research and development programs.

Alex Wasyl, Nexien’s Chief Executive Officer, commented, “Joe and Mike are great examples of the high-caliber, specialized talent we have attracted to Nexien’s team. I congratulate each of them on their new roles and look forward to their continuing contributions as we pursue an exciting pipeline of cannabinoid pharmaceuticals and delivery technologies, including our flagship research programs addressing convulsive disorders and myotonic dystrophy.”

About Nexien BioPharma Inc.

Nexien BioPharma is a US-based pharmaceutical company engaged in the formulation, development and commercialization of cannabinoid pharmaceuticals in accordance with U.S. Food and Drug Administration ("FDA") pre-clinical and clinical pathways, to address a broad range of medical conditions and disorders. For more information, visit Nexien BioPharma’s website at: www.nexienbiopharma.com.

Forward Looking Statements

This press release may contain forward-looking statements, which are deemed to be any statements made by or on behalf of Nexien BioPharma that are not statements of historical facts. These statements reflect current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this release, including the factors set forth in "Risk Factors" in our most recent Form 10-K filed with the Securities and Exchange Commission (SEC) and subsequent filings with the SEC. Readers are cautioned not to place reliance on these forward-looking statements, which are valid only as of the date they were made. Nexien BioPharma undertakes no obligation to update or revise any forward-looking statements to reflect new information or the occurrence of unanticipated events or otherwise, except as expressly required by law.

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Nexien BioPharma, Inc.
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The Equity Group
Kalle Ahl, CFA
(212) 836-9614
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Devin Sullivan
(212) 836-9608
[email protected]