Nexien BioPharma Announces Acceptance of Patent Application No. 238946 by Israeli Patent Office

— Patent covers use of cannabinoids and terpenes for treatment of
organophosphate and carbamate toxicity —

DENVER–(BUSINESS WIRE)–Nexien BioPharma, Inc. (“Nexien” or the “Company”) (OTCQB: NXEN), a next
generation biopharmaceutical company focused on research, development
and commercialization of novel FDA-compliant cannabinoid pharmaceuticals
and related drug delivery systems, today announced that its patent
application No. 238946 for “Use of Cannabinoids and Terpenes for
Treatment of Organophosphate and Carbamate Toxicity” has been accepted
by the Israeli Patent Office. This application relates to pharmaceutical
formulation compositions and their method of use in which isolated
cannabinoid receptor modulators are optionally combined with terpene
blends in a pharmaceutically acceptable carrier to treat or prevent
disorders caused by exposure to an organophosphate or carbamate
acetylcholinesterase inhibitor.

The endocannabinoid system and other physiological systems can
potentially mitigate the effects of organophosphate and carbamate
toxicity when treated with medicaments affecting these systems in a time
and dose-dependent format.

Nexien’s unique process for treating symptoms incorporates a composition
comprising tetrahydrocannabinol and cannabidiol formulated for
administration by an oral, nasal, buccal, sublingual, parenteral, or any
combination thereof.

According to the Notification of Acceptance issued by the Israel Patent
Office, examination of the application is completed and the application
has been accepted. Pursuant to several administrative procedures, it is
anticipated that a patent could transition from accepted to granted in
the coming months.

Alex Wasyl, Nexien’s Chief Executive Officer, stated, “Clinical
investigation of advanced cannabinoid drug formulations and delivery
systems could allow for significant advantages when compared with
existing standard of care options for organophosphate and carbamate
nerve agent exposure and resultant neurological and systemic toxicity.
As bio-warfare becomes an increasing concern around the world,
cannabinoid drug formulations could be a viable stand-alone or adjunct
treatment option to provide patients with fewer side effects and thus an
accelerated return to full functionality, whether soldiers or civilians.”

About Organophosphate and Carbamate Toxicity

Organophosphate and carbamate compounds are typically used as
insecticides, pesticides, petroleum additives and petrochemicals.
Organophosphate and carbamate have also been developed for use as
chemical warfare nerve agents, such as Sarin. While some of these
compounds are banned in developed countries, they are mostly inexpensive
and accessible, especially in poorer countries. It is estimated that at
least 750,000 cases of organophosphate poisoning occur every year with
an estimated 300,000 fatalities a year world-wide.

About Nexien BioPharma, Inc.

Nexien BioPharma is a US-based pharmaceutical company engaged in the
formulation, development and commercialization of cannabinoid-based
pharmaceuticals in accordance with U.S. Food and Drug Administration
(“FDA”) pre-clinical and clinical pathways, to address a broad range of
medical conditions and disorders. Nexien BioPharma website: www.nexienbiopharma.com.

Forward Looking Statements

Nexien Disclosure Notice: This press release may contain
“forward-looking statements, which are deemed to be any statements made
by or on behalf of Nexien BioPharma that are not statements of
historical facts. These statements reflect current beliefs, and a number
of important factors could cause actual results to differ materially
from those expressed in this release, including the factors set forth in
“Risk Factors” in our most recent Form 10-K filed with the Securities
and Exchange Commission (SEC) and subsequent filings with the SEC.
Readers are cautioned not to place reliance on these forward-looking
statements, which are valid only as of the date they were made. Nexien
BioPharma undertakes no obligation to update or revise any
forward-looking statements to reflect new information or the occurrence
of unanticipated events or otherwise, except as expressly required by
law.

Contacts

Nexien BioPharma, Inc.
info@nexienbiopharma.com

The
Equity Group
Kalle Ahl, CFA
(212) 836-9614
kahl@equityny.com

Devin
Sullivan
(212) 836-9608
dsullivan@equityny.com