Virpax Reports on Progress of Enveltatm

Virpax^® Pharmaceuticals, Inc. ("Virpax" or the "Company") (NASDAQ: VRPX), a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders and viral barrier indications, today announced recent progress made in its Envelta development program. Envelta is the Company's non-opioid pain product candidate for acute and chronic pain that is being funded under an in-kind grant from the National Center for Advancing Translational Sciences (NCATS), part of the National Institutes of Health (NIH).

Dose ranging studies for Envelta in both rats and dogs were recently completed, and the intranasal administration of Envelta was well-tolerated and no adverse effects were observed. The data from these studies will be used in Virpax's Investigational New Drug (IND) application to the FDA as well as to establish safe dosing for the first-in-human trials of Envelta.

"We are actively working with NCATS to complete the studies necessary to move this program forward. We are pleased with the results from these latest studies and remain on track to file the IND by the second quarter of 2024," stated Anthony P. Mack, Chairman and CEO of Virpax.

About Virpax Pharmaceuticals

Virpax is developing branded, non-addictive pain management products candidates using its proprietary technologies to optimize and target drug delivery. Virpax is initially seeking FDA approval for two prescription drug candidates that employ two different patented drug delivery platforms. Probudurtm is a single injection liposomal bupivacaine formulation being developed to manage post-operative pain and Enveltatm is an intranasal molecular envelope enkephalin formulation being developed to manage acute and chronic pain, including pain associated with cancer. Virpax is also using its intranasal Molecular Envelope Technology (MET)) to develop two other product candidates. PES200 is a product candidate being developed to manage post-traumatic stress disorder (PTSD) and NobrXioltm is a product candidate being developed for the nasal delivery of a pharmaceutical-grade cannabidiol (CBD) for the management of rare pediatric epilepsy. Virpax recently acquired global rights to NobrXiol. Virpax is also seeking approval of two nonprescription product candidates: AnQlar, which is being developed to inhibit viral replication caused by influenza or SARS-CoV-2, and Epoladermtm, which is a topical diclofenac spray film formulation being developed to manage pain associated with osteoarthritis. For more information, please visit virpaxpharma.com and follow us on Twitter, LinkedIn and YouTube.

Forward-Looking Statement

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