Eupraxia Pharmaceuticals to Present at 20th ISDE World Congress for Esophageal Diseases Victoria, B.C.

Eupraxia Pharmaceuticals to Present

at 20th ISDE World Congress for Esophageal Diseases

Victoria, B.C. - September 19, 2024

- Eupraxia Pharmaceuticals Inc. ("Eupraxia" or the "Company") (TSX: EPRX) (NASDAQ: EPRX), a clinical-stage biotechnology

company leveraging its proprietary DiffuSphere technology to optimize drug delivery for applications with significant unmet need,

today announced that the Company will be presenting a poster at the upcoming 20th International Symposium on Digestive Endoscopy ("ISDE")

World Congress for Esophageal Diseases to be held in Edinburgh, Scotland on September 22-24, 2024.

The event is a premier global conference

focused on advancing knowledge and collaboration in the field of digestive endoscopy.

Presentation Details:

The presentation, which will feature data from cohorts one through four from the RESOLVE trial, will also be available on Eupraxia's

https://eupraxiapharma.com/our-science/clinical-trials-and-publications/default.aspx.

About Eupraxia Pharmaceuticals Inc.

Eupraxia is a clinical-stage biotechnology

company focused on the development of locally delivered, extended-release products that have the potential to address therapeutic areas

with high unmet medical need. DiffuSphere , a proprietary, polymer-based micro-sphere technology, is designed to facilitate targeted

drug delivery of both existing and novel drugs. The technology is designed to support extended duration of effect and delivery of drugs

in a hyper-localized fashion, targeting only the tissues that physicians are wanting to treat. We believe the potential for fewer adverse

events may be achieved through the precision targeting and the stable and flat delivery of the active ingredient when using the DiffuSphere

technology, versus the peaks and troughs seen with more traditional drug delivery methods. The precision of Eupraxia's DiffuSphere

technology platform has the potential to augment and transform existing FDA-approved drugs to improve their safety, tolerability, efficacy

and duration of effect.

The potential uses in therapeutic areas

may go beyond pain and inflammatory gastrointestinal disease, where Eupraxia currently is developing advanced treatments, to also be applicable

in oncology, infectious disease and other critical disease areas.

Eupraxia's EP-104GI is currently in a

Phase 1b/2a trial, the RESOLVE trial, for the treatment of eosinophilic esophagitis ("EoE"). EP-104GI is administered as an

injection into the esophageal wall, providing local delivery of drug. This is a unique treatment approach for EoE. Eupraxia also recently

completed a Phase 2b clinical trial (SPRINGBOARD) of EP-104IAR for the treatment of pain due to knee osteoarthritis. The trial met its

primary endpoint and three of the four secondary endpoints. In addition, Eupraxia is developing a pipeline of later and earlier-stage

long-acting formulations. Potential pipeline indications include candidates for other inflammatory joint indications and oncology, each

designed to improve on the activity and tolerability of currently approved drugs. For further details about Eupraxia, please visit the

Company's website at: www.eupraxiapharma.com.

Notice Regarding Forward-looking Statements

This news release includes forward-looking

statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking information

can be identified by the use of words such as "plans", "is expected", "expects", "suggests",

"scheduled", "intends", "contemplates", "anticipates", "believes", "proposes",

"potential" or variations (including negative and grammatical variations) of such words and phrases, or state that certain actions,

events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements in this news release include statements regarding the details of the Company's presentation at the upcoming

20th ISDE World Congress for Esophageal Diseases; the Company's product candidates, including their expected benefits to patients

with respect to safety, tolerability; efficacy and duration; the results gathered from studies and trials of Eupraxia's product candidates;

the potential for the Company's technology to impact the drug delivery process; potential market opportunity for the Company's products;

and potential pipeline indications. Such statements and information are based on the current expectations of Eupraxia's management, and

are based on assumptions, including but not limited to: future research and development plans for the Company proceeding substantially

as currently envisioned; industry growth trends, including with respect to projected and actual industry sales; the Company's ability

to obtain positive results from the Company's research and development activities, including clinical trials; and the Company's ability

to protect patents and proprietary rights. Although Eupraxia's management believes that the assumptions underlying these statements and

information are reasonable, they may prove to be incorrect.

The forward-looking events and circumstances

discussed in this news release may not occur by certain dates or at all and could differ materially as a result of known and unknown risk

factors and uncertainties affecting Eupraxia, including, but not limited to: risks and uncertainties related to the Company's limited

operating history; the Company's novel technology with uncertain market acceptance; if the Company breaches any of the agreements under

which it licenses rights to its product candidates or technology from third parties, the Company could lose license rights that are important

to its business; the Company's current license agreement may not provide an adequate remedy for its breach by the licensor; the Company's

technology may not be successful for its intended use; the Company's future technology will require regulatory approval, which is costly

and the Company may not be able to obtain it; the Company may fail to obtain regulatory approvals or only obtain approvals for limited

uses or indications; the Company's clinical trials may fail to demonstrate adequately the safety and efficacy of its product candidates

at any stage of clinical development; the Company may be required to suspend or discontinue clinical trials due to side effects or other

safety risks; the Company completely relies on third parties to provide supplies and inputs required for its products and services; the

Company relies on external contract research organizations to provide clinical and non-clinical research services; the Company may not

be able to successfully execute its business strategy; the Company will require additional financing, which may not be available; any

therapeutics the Company develops will be subject to extensive, lengthy and uncertain regulatory requirements, which could adversely affect

the Company's ability to obtain regulatory approval in a timely manner, or at all; the impact of health pandemics or epidemics on the

Company's operations; the Company's restatement of its consolidated financial statements, which may lead to additional risks and uncertainties,

including loss of investor confidence and negative impacts on the Company's common share price; and other risks and uncertainties described

in more detail in Eupraxia's public filings on SEDAR+ (sedarplus.ca) and EDGAR (sec.gov). Although Eupraxia has attempted to identify

important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements

and information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

No forward-looking statement or information can be guaranteed. Except as required by applicable securities laws, forward-looking statements

and information speak only as of the date on which they are made and Eupraxia undertakes no obligation to publicly update or revise any

forward-looking statement or information, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

Danielle Egan, Eupraxia Pharmaceuticals Inc.

Adam Peeler, on behalf of:

Eupraxia Pharmaceuticals Inc.

SOURCE Eupraxia Pharmaceuticals Inc.