Novus Therapeutics Announces Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

IRVINE, Calif., June 12, 2017

The grant was made as an inducement that was a material component of the new employee's compensation and subsequent acceptance of employment with the Company and was granted as an employment inducement award pursuant to Nasdaq Listing Rule 5635(c)(4) approved by the Company's Compensation Committee.

About Novus Therapeutics

Novus Therapeutics is a pharmaceutical company focusing on the acquisition, development, and commercialization of ear, nose, and throat (ENT) products. The company has two technologies, each of which has the potential to be developed for multiple ENT indications. The company's lead product is a nasally-administered, combination drug product (OP-02) intended to address the underlying cause of otitis media and Eustachian tube dysfunction (OM/ETD), conditions that affect more than 700 million people around the world every year. Otitis media is one of the most common diseases seen by pediatricians and the most frequent reason children consume antibiotics or undergo surgery. The company also has a foam-based drug delivery technology platform (OP-01) that can be used to deliver drugs into the ear, nose, and sinus cavities. The company is currently developing a foam-based combination drug-product delivered to the external ear canal that is an improved treatment option for acute otitis externa ("swimmers ear"). For more information on the company, please visit novustherapeutics.com.

Investor Contacts

The Trout Group
Gita Ogawa
Tel: (646) 378-2949
gogawa@troutgroup.com