VistaGen Therapeutics Appoints Pharmaceutical Industry Veteran, Ann Cunningham, to its Board of Directors

VistaGen Therapeutics Appoints Pharmaceutical Industry Veteran, Ann

Cunningham, to its Board of Directors

SOUTH SAN FRANCISCO, Calif., Jan. 15, 2018 VistaGen

Therapeutics (NASDAQ: VTGN), a clinical-stage biopharmaceutical

company developing new generation me

dicines for central nervous system (CNS) diseases

and disorders with high unmet need, today announced the appointment

of pharmaceutical industry veteran, Ann Cunningham, to the

Company's Board of Directors and its Corporate Governance and

Nominating Committee.

are delighted to welcome Ann to our Board of Directors,

stated Shawn Singh, Chief

Executive Officer of VistaGen. With decades of

commercial and leadership experience in the pharmaceutical

industry, experience that is especially relevant in the depression

and other CNS markets we are pursuing, Ann's expertise

expands our Board's strengths. We look forward to her

valuable insights and strategic guidance as we continue to advance

our pipeline programs.

Cunningham currently serves as Managing Partner of i3 Strategy Partners

where she guides pharmaceutical and biotechnology executives in

planning and executing successful portfolio strategies and brand

launches by evaluating key business questions and evaluating unique

strategies to unlock the full potential of each organization

served. Her experience in the pharmaceutical industry includes time

served in multiple instrumental roles, including: Vice President,

Neurodegenerative Disease and Psychiatry at Teva Pharmaceutical

Industries; Senior Director, Global Brand Lead, Rexulti, at Otsuka America

Pharmaceutical; and Senior Director, Global Brand Lead and Sales

Director in multiple therapeutic areas at Eli Lilly and Company,

including Psychiatry. Ms.

Cunningham holds a B.A. in Psychology from Yale University and an

M.B.A. from University of Michigan, Stephen M. Ross School of

three late-stage, fast-acting new generation CNS drug candidates,

each focused on a large market where millions of individuals need

new safe and effective alternatives to current therapies, VistaGen

is poised to make game-changing advances in the near future,

said Ms. Cunningham. I am eager to begin working with

VistaGen's leadership team at this exciting and potentially

transformative time in the Company's

VistaGen Therapeutics is a clinical-stage biopharmaceutical company

developing new generation medicines for multiple CNS diseases and

disorders with high unmet need. Each of VistaGen's CNS

pipeline candidates, AV-101, PH10 and

PH94B, has fast-acting activity and potential to be safer and

better tolerated than current drugs in its target markets. The

Company is currently focused on five CNS markets: major depressive

disorder (MDD); neuropathic pain (NP); Parkinson's disease

levodopa-induced dyskinesia (PDLID); social anxiety disorder (SAD);

and suicidal ideation. Each drug candidate in VistaGen's CNS

pipeline is either currently in, or has completed, Phase 2 POC

clinical development. AV-101, an oral NMDA receptor glycine B

antagonist, is in Phase 2 clinical development as an adjunctive

treatment of MDD and is being prepared for initial Phase 2 clinical

studies in NP and PDLID. The

Fast Track designation for

development of AV-101 as both a potential

adjunctive treatment of MDD and as a

non-opioid treatment for neuropathic pain. PH10

intranasal, a first-in-class neuroactive steroid with rapid onset

effects, has completed a successful Phase 2 POC clinical study for

MDD. PH94B intranasal, also a first-in-class

neuroactive steroid with rapid onset effects, has completed Phase 2

clinical development and is now being prepared for pivotal Phase 3

clinical development as an on-demand, as needed (PRN) treatment of

more information, please visit www.vistagen.com and

connect with VistaGen on Twitter, LinkedIn

Forward-Looking Statements

This release contains various statements concerning VistaGen's

future expectations, plans and prospects, including without

limitation, our expectations regarding development and

commercialization of our drug candidates, all of which constitute

forward-looking statements for the purposes of the safe harbor

provisions under the Private Securities Litigation Reform Act of

1995. These forward-looking statements are neither promises nor

guarantees of future performance and are subject to a variety of

risks and uncertainties, many of which are beyond our control, and

may cause actual results to differ materially from those

contemplated in these forward-looking statements. Among these risks

is the possibility that (i) we may encounter unexpected adverse

events in patients during our clinical development of any product

candidate that cause us to discontinue further development, (ii) we

may not be able to successfully demonstrate the safety and efficacy

of our product candidates at each stage of clinical development,

(iii) success in preclinical studies or in early-stage clinical

trials may not be repeated or observed in ongoing or future

studies, and ongoing or future preclinical and clinical results may

not support further development of, or be sufficient to gain

regulatory approval to market AV-101, PH94B, and/or PH10, (iv)

decisions or actions of regulatory agencies may negatively affect

the progress of, and our ability to proceed with, further clinical

studies or to obtain marketing approval for our drug candidates,

(v) we may not be able to obtain or maintain adequate intellectual

property protection and other forms of marketing and data

exclusivity for our product candidates, (vi) we may not have access

to or be able to secure substantial additional capital to support

our operations, including our ongoing clinical development

activities, and (vii) we may encounter technical and other

unexpected hurdles in the manufacturing and development of any of

our product candidates. Certain other risks are more fully