Grant Supports Development of NH001 for the Treatment of Patients in a Coma, Vegetative State or Minimally Conscious State Following a Traumatic Brain Injury

Newton, Massachusetts – November 3, 2010.

NeuroHealing Pharmaceuticals, a private, clinical stage company developing innovative drug treatments for specialty indications based on repositioning neurologically active compounds, today announced that it has been awarded a $244,479 grant from the U.S. government under the Qualifying Therapeutic Discovery Project (QTDP). The grant, which targets therapeutic discovery projects that show potential to result in new therapies to treat areas of unmet medical need or treat diseases and conditions potentially resulting in reduced health care costs, was awarded to NeuroHealing to help fund the clinical development of NH001. NH001 is in development to accelerate the recovery and improve the outcome of patients in a coma, vegetative state or minimally conscious state following a traumatic brain injury.

About NH001
NH001 is a potent dopaminergic agonist with well-established human safety data, appropriate pharmacokinetic profile and route of administration. It is a direct acting dopamine agonist at both D1 and D2 dopamine receptors. It rapidly crosses the blood brain barrier and reaches a concentration in the brain eight times higher than that in plasma. Because dopaminergic function appears to be of importance in executive central nervous system function, such as arousal and memory, NH001 has been designed to help regain consciousness, accelerate recovery and improve the functional outcome of patients from an altered consciousness state following a traumatic brain injury.

About the Qualifying Therapeutic Discovery Project
The Qualifying Therapeutic Discovery Project (QTDP) is provided under new section 48D of the Internal Revenue Code, enacted as part of the Patient Protection and Affordable Care Act of 2010 (P.L. 111-148). The tax credit or grant is targeted to therapeutic discovery projects that show a reasonable potential to result in new therapies to treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and conditions, reduce the long-term growth of health care costs in the United States, or significantly advance the goal of curing cancer within 30 years. It also takes into consideration projects that show the greatest potential to create and sustain high-quality, high-paying U.S. jobs and to advance U.S. competitiveness in life, biological and medical sciences.

About NeuroHealing Pharmaceuticals
NeuroHealing Pharmaceuticals, Inc. is a clinical stage private company developing innovative treatments for specialty indications based on repositioning neurologically active compounds. Clinical stage programs include: NH001 (phase II), a dopaminergic agent to help post traumatic brain injury patients to emerge from a coma, vegetative or minimally consciousness state; NH004 (phase II), an anticholinergic agent in a convenient intra-orally muco-adhesive dissolving film to help treat patients suffering from sialorrhea (drooling); and NH02D, a neurologically active compound to treat premature ejaculation.

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