Eupraxia Pharmaceuticals To Present at Bloom Burton & Co. Healthcare Investor Conference Victoria, B.C.

Eupraxia Pharmaceuticals To Present

at Bloom Burton & Co. Healthcare Investor Conference

Victoria, B.C. - April 8, 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, announced today that senior management will deliver a corporate presentation at the 2024 Bloom

Burton & Co. Healthcare Investor Conference in Toronto.

Eupraxia CEO Dr. James

Helliwell will present on April 16th, 2024, at 10:30 am ET at the Metro Toronto Convention Centre, and will participate in investor meetings

at the conference on April 16th and 17th.

Interested parties can

access the presentation through the following link:

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. The Company strives to provide improved patient benefit and has developed technology designed to deliver

targeted, long-lasting activity with fewer side effects. Diffusphere , a proprietary, polymer-based micro-sphere technology, is

designed to facilitate targeted drug delivery, with extended duration of effect, and offers multiple, highly tuneable PK profiles. This

investigational technology can be engineered for use with multiple active pharmaceutical ingredients and delivery methods.

Eupraxia recently completed a Phase 2b

clinical trial (SPRINGBOARD) for its lead product candidate, EP-104IAR, for the treatment of pain due to osteoarthritis of the knee.

The trial met its primary endpoint and three of the four secondary endpoints. Eupraxia has expanded the EP-104 platform into gastrointestinal

disease with the Phase 1b/2a RESOLVE trial for treating eosinophilic esophagitis. Eupraxia is also 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", "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 Company's product candidates, including expected benefits to patients;

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; 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 our 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.

For investor inquiries, please contact:

Adam Peeler, on behalf of:

Eupraxia Pharmaceuticals Inc.

SOURCE Eupraxia Pharmaceuticals Inc.