Endonovo Therapeutics Announces Binding Letter of Intent to Acquire Rio Grande 
Neurosciences, Inc.
 
Acquisition of RGN's Electroceutical(TM) Product Portfolio and
Intellectual Property
 
LOS ANGELES, CA -- (Marketwired) -- 07/11/16 --  Endonovo
Therapeutics, Inc. (OTCQB: ENDV) -- a developer of bioelectronic
devices and medicines, announced today it has executed a binding
letter of intent (LOI) to acquire Rio Grande Neurosciences, Inc.
(RGN), a privately-held clinical stage developer of non-invasive
Electroceuticals(TM) for the treatment of neuro-inflammation and
central nervous system diseases and disorders. The LOI is binding,
but subject to the execution of a definitive purchase agreement,
shareholder approvals from both companies and Endonovo raising
additional capital. The parties expect to sign a definitive agreement
within the third quarter ending September 30, 2016 and close at the
same time or shortly thereafter. Endonovo has paid $500,000 towards
the purchase price through the issuance of a note.
 
Pursuant to the LOI, Endonovo will be acquiring RGN and all of its
assets including an FDA-cleared device for treating pain and edema, a
proprietary multi-coil rTMS System with pending 510(k) application,
and Multiple Therapeutic Clinical Studies in Neurological Diseases
and Disorders. The aggregate purchase price of $21.5 million,
consisting of $1.5 million in cash, approximately $15 million in
Endonovo common stock, and approximately $5 million in Endonovo
common stock warrants. Endonovo will also be committed to paying RGN
a 10% royalty on the sale of RGN commercialized products and assuming
its outstanding Senior Secured Debt.
 
"We believe this acquisition will significantly increase Endonovo's
trajectory as we continue developing our non-invasive treatments for
acute inflammatory conditions in vital organs," stated Endonovo
Chairman and CEO, Alan Collier. "We are impressed with Rio Grande
Neuroscience's scientist team and their collective ability to build a
portfolio of cutting edge treatments utilizing BioElectronics
medicine. The combined company creates greater shareholder value for
both RGN and Endonovo and will further establish Endonovo at the
forefront of bioelectronic medicine."
 
RGN's portfolio of non-invasive brain stimulation technologies
includes FDA-cleared devices for the treatment of post operative pain
and edema, which is currently being adapted for the treatment of
neuro-inflammatory conditions, including traumatic brain injury,
acute concussion, post concussion syndrome and multiple sclerosis;
and multi-coil Transcranial Magnetic Stimulation (rTMS) technology
for the treatment of resistant major depressive disorder (MDD). RGN
submitted an FDA 510(k) Pre-Market Notification for rTMS technology
for the treatment of MDD in March 2016. Furthermore, RGN's portfolio
of technologies also includes closed-loop Transcranial Electrical
Stimulation (cl-TES), supported by a grant from DoD for enhancing
learning.
 
Steven Gluckstern, Chairman and CEO of RGN, who will become Executive
Chairman of Endonovo Therapeutics, commented, "We are very excited
how the combined entities will lead the way for the development and
adoption of this new class of therapies."
 
This is an incredible opportunity of our non-invasive
Electroceuticals(TM) technology. By combining our industry leading
R&D and clinical development team with Endonovo's technology and
management team to develop both of our non-invasive approaches to the
treatment of inflammatory conditions in vital organs and neurological
disorders we will become a dominant player in the non-invasive
therapeutic arena.
 
This press release shall not constitute an offer to sell or the
solicitation of an offer to acquire any securities, nor shall there
be any sale of any securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
 
About Endonovo Therapeutics
Endonovo Therapeutics, Inc. is an innovative biotechnology company
developing bioelectronic devices and medicines. Endonovo's
Immunotronics(TM) platform is a non-invasive, non-implantable
bioelectronic device for treating/preventing vital organ failure
through the reduction of inflammation and cell death and the
promotion of regeneration. Endonovo's Cytotronics(TM) platform
provides for a method of expanding and optimizing the therapeutic
potential of stem cells using simulated microgravity and Time-Varying
Electromagnetic Fields (TVEMF) for tissue engineering and cell
therapies. The Company's initial concentration is on the treatment of
acute and chronic inflammatory conditions of the liver using its
proprietary Immunotronics(TM) platform.
 
About Rio Grande Neurosciences
Rio Grande Neurosciences, Inc. (RGN) is a Santa Fe, New Mexico-based
neurotechnology company focused on developing, acquiring, and
licensing non-invasive brain stimulation (NIBS) therapies used to
treat pathologies of the central nervous system. There is an extreme
paucity of therapies available for patients suffering from brain
trauma, psychiatric illness, and chronic neurological diseases. Drug
trials aimed at treating these conditions have repeatedly failed,
underscoring the need for novel approaches to therapy and NIBS
treatments have demonstrated encouraging results.
 
RGN has aggregated three of the most promising NIBS
Electroceutical(TM) technologies and seeks to lead in the development
of this emerging sector by conducting basic science, applied research
and multiple clinical trials with top-tier academic and commercial
collaborators. RGN's portfolio currently includes: repetitive
multi-coil Transcranial Magnetic Stimulation (rTMS), targeted Pulsed
Electromagnetic Field therapy (tPEMF), and closed-loop Transcranial
Electrical Stimulation (cl-TES).
 
Safe Harbor Statement
This press release contains information that constitutes
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
All statements, trends, analysis, and other information contained in
this press release including words such as "anticipate," "believe,"
"plan," "estimate," "expect," "intend," and other similar expressions
of opinion, constitute forward-looking statements. Any such
forward-looking statements involve risks and uncertainties that could
cause actual results to differ materially from any future results
described within the forward-looking statements. Risk factors that
could contribute to such differences include those matters more fully
disclosed in the Company's reports filed with the Securities and
Exchange Commission. The forward-looking information provided herein
represents the Company's estimates as of the date of the press
release, and subsequent events and developments may cause the
Company's estimates to change. The Company specifically disclaims any
obligation to update the forward-looking information in the future.
Therefore, this forward-looking information should not be relied upon
as representing the Company's estimates of its future financial
performance as of any date subsequent to the date of this press
release.
 
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Investor Relations Contact:
Endonovo Therapeutics, Inc.
Mr. Steven Barnes
Senior Vice President of Investor Relations
(800) 701-1223, Ext. 108
Sbarnes@endonovo.com 
www.endonovo.com