GlobeNewswire Inc | Apr 23, 2021 05:00PM EDT

April 23, 2021

SOLANA BEACH, Calif., April 23, 2021 (GLOBE NEWSWIRE) -- ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the Company), a global therapy-enabling platform company providing navigation and delivery to the brain, announced today that on September 14, 2020, the Companys Board of Directors approved the grant to Mr. Danilo DAlessandro of (i) 30,000 shares of restricted common stock and (ii) a non-qualified stock option awards to purchase 75,000 shares of common stock with an exercise price of $5.80, the closing price on his start date, September 29, 2020. The stock option and restricted share awards will vest in three equal annual installments beginning on September 29, 2021. These awards were granted as an inducement equity award outside of the Companys 2013 Incentive Compensation Plan in accordance with NASDAQ Listing Rule 5635(c)(4), and were made as an inducement material to the acceptance of employment with the Company by Mr. DAlessandro. The options and restricted shares are further subject to the terms and conditions of the award agreements that are exhibits to Mr. DAlessandros employment agreement, which was filed as Exhibit 10.1 to the Companys Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC) on September 14, 2020, and were previously reflected on Mr. DAlessandros Form 4 filed with the SEC on September 30, 2020.

About ClearPoint Neuro

ClearPoint Neuros mission is to improve and restore quality of life to patients and their families by enabling therapies for the most complex neurological disorders with pinpoint accuracy. Applications of the Companys current product portfolio include deep brain stimulation, laser ablation, biopsy, neuro-aspiration, and delivery of drugs, biologics, and gene therapy to the brain. The ClearPoint Neuro Navigation System has FDA clearance, is CE-marked, and is installed in over 60 active clinical sites in the United States, Canada, and Europe. The Companys SmartFlow cannula is being used in partnership or evaluation with over 25 individual biologics and drug delivery companies in various stages from preclinical research to late-stage regulatory trials. To date, more than 4,000 cases have been performed and supported by the Companys field-based clinical specialist team, which offers support and services for our partners. For more information, please visit www.clearpointneuro.com.

Forward-Looking Statements

Statements herein concerning the Companys plans, growth and strategies may include forward-looking statements within the context of the federal securities laws. Statements regarding the Company's future events, developments and future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. Uncertainties and risks may cause the Company's actual results to differ materially from those expressed in or implied by forward-looking statements. Particular uncertainties and risks include those relating to: the impact of COVID-19 and the measures adopted to contain its spread; future revenues from sales of the Companys ClearPoint Neuro Navigation System products; and the Companys ability to market, commercialize and achieve broader market acceptance for the Companys ClearPoint Neuro Navigation System products. More detailed information on these and additional factors that could affect the Companys actual results are described in the Risk Factors section in the Companys Annual Report on Form 10-K for the year ended December 31, 2020, which has been filed with the Securities and Exchange Commission, and in the Companys Quarterly Report on Form 10-Q for the three months ended March 31, 2021, which the Company intends to file with the Securities and Exchange Commission on or before May 17, 2021.

Contact:

Jacqueline Keller, Vice President, Marketing(949) 900-6833jkeller@clearpointneuro.com

Caroline Corner, Investor Relationsir@clearpointneuro.com