(Incorporated in Delaware)

Aspen Neuroscience, Inc. is a leading, clinical-stage regenerative medicine biotechnology company focused on developing autologous induced-pluripotent stem cell (iPSC)-derived therapies to address neurodegenerative diseases with high unmet medical need.

Our lead product candidate, sasineprocel, is an investigational single-dose, autologous iPSC-based cell therapy being evaluated for the treatment of Parkinson’s disease (PD). We believe sasineprocel has the potential to be disease-modifying by primarily replacing a patient’s lost dopaminergic (DA) neurons with dopaminergic neuron precursor cells (DANPCs). In an ongoing Phase 1/2a ASPIRO clinical trial of sasineprocel in mid-stage to moderately advanced sporadic PD, patients have experienced, what we believe to be, sustained and clinically meaningful improvements in motor, quality of life, and non-motor symptoms as measured by comparison to clinically meaningful change benchmarks. Based on these findings, we believe sasineprocel has the potential to improve upon the current standard of care in PD and address the significant unmet need in PD for a disease-modifying therapy that may slow or halt the progression of this devastating disease.

PD is a progressive neurodegenerative disease primarily characterized by the loss of DA neurons as well as impaired DA neurotransmission that results in the progressive deterioration of motor and non-motor neurological function. It is the second most common neurodegenerative disorder, estimated to affect more than 1 million people in the United States and more than 10 million people globally. The prevalence has doubled globally over the past 25 years, making it one of the fastest growing central nervous system (CNS) diseases. PD patients suffer from characteristic motor symptoms, including movement, coordination and speech impairments, as well as non-motor symptoms, including loss of sense of smell, sleep behavior disorders, difficulty swallowing, urinary symptoms, constipation, orthostatic hypotension, depression, psychosis, dementia and cognitive impairment. These symptoms can severely impact a patient’s quality of life, contribute to progressive disability and loss of independence, and are associated with increased morbidity and mortality over time.

The current standard of care is palliative dopamine replacement therapy (DRT), including levodopa and dopamine agonists, which addresses motor symptoms but does not replace lost DA neurons, nor does it slow continued neuronal degeneration. DRT inadequately addresses non-motor symptoms, decreases in effectiveness over time, and is associated with side effects that can significantly impact patient quality of life. As DRT loses its effectiveness or as its side effects become intolerable, advanced therapies, such as deep brain stimulation (DBS), are considered. While DBS can be effective in addressing certain motor symptoms of PD, it has not been shown to slow disease progression in mid-stage to moderately advanced PD patients and can potentially worsen cognition, gait, speech and other axial symptoms. DBS has other drawbacks as well, including frequent long delays in access and optimization, and multiple invasive surgeries with permanent implanted hardware, which includes risks such as hemorrhage, infection, and device failure. In contrast to DRT and DBS, cell replacement therapy holds significant promise as an approach to restore and replace lost dopamine neurons and neural circuitry necessary for normal motor and non-motor function. We believe our cell replacement approach represents a promising therapy that could provide long-term benefits from a single administration without the need for permanently implanted hardware.

Aspen Neuroscience was founded in 2018 based on more than two decades of research conducted by Jeanne F. Loring, Ph.D., Professor Emerita at the Scripps Research Institute and founding Director of the Center for Regenerative Medicine. Dr. Loring’s laboratory developed foundational methods for reprogramming adult human cells into iPSCs and subsequently differentiating them into dopamine-producing neurons, which form the basis of our autologous iPSC platform and sasineprocel. Since inception, we have focused on translating this academic innovation into a clinically scalable, regulatory-compliant therapeutics platform.

(Note: Aspen Neuroscience filed its S-1 on Oct. 9, 2026, for its IPO without disclosing the terms. Estimated proceeds are $100 million, a placeholder figure.)