NYR.ASX: New funds from Nyrada share sales

New funds from Nyrada share sales

Stock	Nyrada Inc (NYR.ASX)
Release Time	20 May 2025, 8:48 a.m.
Price Sensitive	Yes

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Noxopharm raises $2.5M from Nyrada share sale

Key Points

Strategic decision raises almost $2.5 million
Funds to support HERACLES clinical trial and R&D pipeline
Noxopharm CEO says sale will enable continued investment in innovative technology

Full Summary

Noxopharm Limited (ASX:NOX) has announced that it has raised additional working capital by disposing of its entire shareholding in Nyrada Inc (ASX:NYR). This strategic decision has generated nearly $2.5 million in non-dilutive funds, enabling the company to continue pursuing its objectives such as starting the upcoming HERACLES clinical trial and investing in its R&D pipeline. Noxopharm CEO Dr Gisela Mautner stated that the company has gained significant momentum over the past 18 months, and the sale of these shares will support its operations as it continues to invest in its innovative technology. The company would like to thank Canary Capital for their assistance in completing this transaction and for their support throughout the process.