NeuroSense Announces Second Quarter 2022 Financial Results and Provides Business Update

NeuroSense Announces Second Quarter 2022 Financial

Results and Provides Business Update

Mass., August 31, 2022 -- NeuroSense Therapeutics Ltd. (Nasdaq: NRSN) ("NeuroSense"), a company developing treatments

for severe neurodegenerative diseases, today published its financial results for the quarter ended June 30, 2022 and provided a

"Throughout this quarter NeuroSense achieved

multiple milestones, including the initiation of our Phase IIb ALS study. As an integral part of our clinical program, NeuroSense is pioneering

the identification and use of novel biomarkers in neurodegenerative diseases. Results observed from the biomarker studies are promising,

especially in that they support our clinical strategy. These findings, along with the data we collect from our Phase IIb study, could

inform the optimization of a pivotal Phase III study of PrimeC in ALS," stated NeuroSense's CEO, Alon Ben-Noon. "With over

$10 million in cash and equivalents on our balance sheet at the end of Q2, we are well positioned to complete our Phase IIb study and

report topline results in Q2 2023."

In Q2 2022, NeuroSense commenced its double-blind, placebo-controlled,

multi-center Phase IIb clinical trial using a unique upgraded formulation of PrimeC, which is designed to maximize the synergistic effect

between the compounds in its combination drug. The clinical trial endpoints include assessment of amyotrophic lateral sclerosis (ALS)

biomarkers, evaluation of clinical efficacy, and improvement in quality of life to demonstrate an attenuation in disease progression.

Elucidation of the mechanism of action of PrimeC utilizing data from the upcoming Phase IIb trial may enable patient stratification

and increase the likelihood of success in a pivotal trial.

During Q2 2022, the 3rd stage of the Company's

ALS biomarker study was completed. The study revealed that levels of disease-related biomarkers remained unchanged in people living with

ALS who were treated with standard of care, in contrast to the statistically significant decline observed in these biomarkers in patients

treated with PrimeC in NeuroSense's Phase IIa study.

Furthermore, a new study on Alzheimer's disease (AD) biomarkers

was also completed. The study identified several biomarkers associated with AD, which the Company believes indicate NeuroSense's combination

drug CogniC, for the treatment of AD, may be effective in targeting the pathways involved in the disease.

In April 2022, NeuroSense initiated a pharmacokinetic (PK)

study (NCT05232461) of PrimeC. The PK open-label, randomized, single-dose, three-treatment, three-period crossover study evaluated the

effect of food on the bioavailability of PrimeC as compared to the bioavailability of co-administered ciprofloxacin tablets and celecoxib

capsules in adult subjects in the U.S. under an FDA cleared IND protocol. Based on preliminary results,

the PK profile of PrimeC supports the formulation's extended-release properties as the active components are released simultaneously.

In August 2022, NeuroSense completed enrollment and dosing

of all subjects in a multi-dose PK study (NCT05436678), with results expected in September 2022.

In addition, NeuroSense

reported the successful completion of the "in-life" phase of its 90-day GLP Toxicology study. In this study, the components

of PrimeC, celecoxib and ciprofloxacin, were administered to rodents at doses 4x the maximal clinical dose. All animals appeared normal,

with no significant findings observed. The Company intends to present the data from this study to the FDA as part of PrimeC's drug development

The Canadian Intellectual Property Office granted NeuroSense

a key patent titled "Compositions comprising an anti-inflammatory drug and DICER activator for treatment of neuronal diseases"

for its lead drug candidate PrimeC. This patent has already been issued to the Company in the U.S. and Australia.

During Q2 2022, NeuroSense strengthened existing connections

and explored new scientific collaborations through ALS conferences. NeuroSense's Chief Medical Officer, Dr. Ferenc Tracik, MD, presented

at the ALS Drug Development Summit in Boston, "From Monotherapy to Combination Therapy:

Considering a Paradigm Shift to Target Complexity of ALS." The Company also participated in Maxim Group's panel discussion

on Innovations in ALS: Exploring New Treatments In Development. Following the end of the second quarter, at the World

Orphan Drug Congress in Boston, NeuroSense's Head of Scientific Program, Dr. Shiran Zimri, presented "PrimeC Significantly

Alters Key ALS Biomarkers".

announced a collaboration agreement with NeuraLight Ltd. to advance the science of oculometric digital biomarkers in the detection and

monitoring of neurological diseases including ALS through the use of computer vision, artificial intelligence (AI), deep learning algorithms,

and machine learning (ML). The NeuroSense-NeuraLight collaboration entails sharing and tracking patient data to advance the identification

and use of ALS digital biomarkers.

In addition, NeuroSense

joined the EverythingALS Open Innovation Consortium. NeuroSense will support the patient-focused non-profit with ground-breaking patient

research in a joint effort to develop treatments. This collaboration will provide insight into patients' needs and allow the company to

better serve the ALS community. NeuroSense's CEO, Alon Ben-Noon presented at EverythingALS's Expert Talk Series on August 3, 2022.

Six Months Ended June

As of June 30, 2022, NeuroSense had cash and short-term

deposits of $10.37 million.

A summary of the Company's unaudited financial

results is included in the tables below.

Interim Unaudited Statements of Financial Position

U.S. dollars in thousands

Interim Unaudited Statements of Income and Comprehensive Loss

in thousands except share and per share data

Interim Unaudited Statements of Changes in Equity

U.S. dollars in thousands

Therapeutics, Ltd. is a clinical-stage biotechnology company focused on discovering and developing treatments for patients suffering from

debilitating neurodegenerative diseases. NeuroSense believes that these diseases, which include amyotrophic lateral sclerosis (ALS),

Alzheimer's disease and Parkinson's disease, among others, represent one of the most significant unmet medical needs of our

time, with limited effective therapeutic options available for patients to date. Due to the complexity of neurodegenerative diseases and

based on strong scientific research on a large panel of related biomarkers, NeuroSense's strategy is to develop combined therapies

targeting multiple pathways associated with these diseases.

Forward-Looking Statements

This press release contains

"forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements

of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press

release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could,"

"estimate," "expect," "intend," "seek," "may," "might," "plan,"

"potential," "predict," "project," "target," "aim," "should,"

"will" "would," or the negative of these words or other similar expressions, although not all forward-looking

statements contain these words. Forward-looking statements are based on NeuroSense Therapeutics' current expectations and are subject

to inherent uncertainties, risks and assumptions that are difficult to predict and include statements regarding the company's PrimeC

and CogniC development programs; the potential for PrimeC to safely and effectively target ALS; preclinical and clinical data for PrimeC;

the timing of current and future clinical trials, timing for reporting data; the nature, strategy and focus of the company and further

updates with respect thereto; and the development and commercial potential of any product candidates of the company. Further, certain

forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Forward-looking statements

contained in this announcement are made as of this date, and NeuroSense Therapeutics Ltd. undertakes no duty to update such information

except as required under applicable law.

For further information: Email:

info@neurosense-tx.com, Tel: +972 (0)9 799 6183