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Evecxia Inc. Licenses Additional IP from Duke University

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Evecxia, Inc., a privately funded, clinical stage biopharmaceutical
company, today announced that it has expanded its previous license
agreement with Duke University to include exclusive, world-wide rights
to develop and commercialize methods of improving the bioavailability of
5-hydroxytryptophan (5-HTP). The original license agreement, executed in
December 2015, covers issued patents and pending patent applications for
slow-release 5-HTP in combination with pro-serotonergic compounds.

"This expanded license agreement with Duke University broadens the
patent portfolio and potentially provides additional patent term, scope
of protection, geographic coverage, and years of exclusivity to EVX-101,
our lead product candidate," said John Kaiser, CEO of Evecxia. "We
appreciate Duke's collaborative spirit and their trust in Evecxia to
develop and commercialize EVX-101," Mr. Kaiser added.

Under the terms of the agreement, Evecxia will immediately assume full
development and commercialization of EVX-101 and any other product
candidates emanating from the entire license agreement with Duke. In
addition to an equity stake in Evecxia, Duke University will receive an
upfront licensing fee as well as milestone and low single-digit royalty
payments.

About Evecxia

Evecxia Inc. is a privately funded, clinical stage pharmaceutical
company co-founded by Duke neuro-psychopharmacologists, Dr. Marc Caron
and Dr. Jacob Jacobsen. We are located in the Research Triangle Park,
NC. Evecxia's singular mission is to develop and commercialize EVX-101
to treat patients suffering from disabling, common, and costly
neuropsychiatric conditions in which current therapies, in many cases,
are sub-optimal.

Evecxia is the first company dedicated to realizing the therapeutic
potential of 5-hydroxytryptophan via specialized prescription
combinations and drug delivery dosage forms.

About EVX-101

EVX-101 is a unique and proprietary oral slow-release formulation of
5-hydroxytryptophan (5-HTP) and low-dose carbidopa. Initially, EVX-101
will be developed and positioned as a first-line adjunctive treatment in
depressed patients responding inadequately to conventional
antidepressants. As an antidepressant, the development of EVX-101, a new
chemical entity (NCE), is uniquely de-risked because the therapeutic
mechanism—elevating extracellular serotonin beyond the effect of
conventional SSRI/SNRI antidepressants—enjoys human proof-of-concept
(POC) for efficacy and safety.

For more information about the Company and its product candidates,
please visit www.evecxia.com
or contact info@evecxia.com.

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