Virpax Pharmaceuticals Announces Newly Issued Patent for Probudur(TM)

WEST CHESTER, PA, March 2, 2021 - Virpax^(R) Pharmaceuticals Inc. ("Virpax" or the "Company") (NASDAQ:VRPX), a company specializing in developing pharmaceutical products for pain management, today announced that the United States Patent and Trademark Office issued US Patent No. 10842745 entitled, "Composition of matter comprising liposome embedded in a polymerix matrix and methods of using same."

This newly issued patent, which is owned by LipoCure Rx and exclusively licensed to Virpax, has 18 claims and expires in 2029. The patent covers a liposomal composition containing bupivacaine as well as additional claims covering methods for providing analgesia in patients by administration of the liposomal compositions.

"We are extremely pleased with the continued development of the patent portfolio for Probudur^TM, our long-acting anesthetic for postoperative pain management. This newly issued patent further broadens our overall intellectual property portfolio," stated Anthony 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 using its three patented drug delivery platforms. Epoladerm(TM) is a topical diclofenac metered-dose spray film formulation being developed to manage acute musculoskeletal pain and osteoarthritis. Probudur(TM) is a single injection liposomal bupivacaine formulation being developed to manage post-operative pain. Envelta(TM) 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 its PES200 product candidate to manage post-traumatic stress disorder (PTSD) and its MMS019 product candidate to inhibit viral replication caused by influenza or SARS-CoV-2. For more information, please visit www.virpaxpharma.com.

Forward-Looking Statement

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's planned clinical trials, product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statements that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.

These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential," "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors, including the potential impact of the recent COVID-19 pandemic and the potential impact of sustained social distancing efforts, on the Company's operations, clinical development plans and timelines, which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact:
Christopher M. Chipman, CPA
Chief Financial Officer
cchipman@virpaxpharma.com
484-880-4588

Or
Betsy Brod
Affinity Growth Advisors
betsy.brod@affinitygrowth.com
212-661-2231