NYRADA INC (ASX:NYR) 8 Our brain injury program too had a minor setback, but one which opened the door to a better lit pathway. While undertaking GLP studies for NYR-BI02, the Company’s brain injury program candidate, it was determined that it was a potent blocker of canonical transient receptor potential (TRPC) ion channels. However, NYR-BI02 demonstrated a sub-optimal safety profile for continuous dosing in patients. Following a review, the Company identified NYR-BI03, a closely related analogue of NYR-BI02, had a superior safety profile for continuous intravenous dosing. This, coupled with superior potency on TRPC ion channel targets, guided the Company to select NYR-BI03 as its new lead brain injury drug candidate. NYR-BI03 will also be used for preclinical efficacy testing in the Walter Reed Army Institute of Research (WRAIR) Traumatic Brain Injury (TBI) model, and separately in a Contract Research Organisation (CRO) stroke model. As Edison counselled “Just because something doesn't do what you planned it to do doesn't mean it's useless.” The Board and I are heartened with what Nyrada achieved last financial year and how we are positioned for the current financial year. The Board and I continue to work with the management team to help make the Company great. Nyrada’s imminent evolution to a clinical drug development company will be a key inflection point for the Company. In conclusion, I would like to extend my thanks to all shareholders for your ongoing support which has allowed us to continue to strive towards our vision to become a high growth pharmaceutical discovery and development company specialising in early-stage drug development of novel treatments. As previously advised, Peter Marks retired from the Board after supporting the Company through its IPO and first years as a public company. I again thank Peter for his contribution. Peter was succeeded in August 2022 by Dr Gisela Mautner. Dr Mautner is currently the Chief Executive Officer and Managing Director of Noxopharm Limited (ASX:NOX) which is a large shareholder in Nyrada. She has been a wonderful addition to the board bringing extensive leadership experience in global pharmaceutical organisations. I also take this opportunity to thank James Bonnar and the whole Nyrada team for making significant progress. I wish to additionally acknowledge the ongoing support of our Scientific Advisory Board (SAB), whose members have a sound record in determining the best path forward. As part of the ongoing evolution of the Company, Professors David Burke and Gilles Lambert will be retiring from the SAB and we thank them for their contribution over the years. I repeat the Board’s gratitude to you, our shareholders, for your support of Nyrada. It is an honour to lead your Board and represent your interests. Our future is before us. John Moore Non-Executive Chair “The Board and I continue to work with the Nyrada management team to help make the Company great. Our success is testament to the significant energies invested by our talented team. Nyrada’s imminent evolution to a clinical drug development company will be a key inflection point for the Company.”
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