• Development of lead drug candidate NYR-BI03 continues to advance
• Successful capital raising of AU$3.29 million and AU$0.09 million
• Received R&D tax rebate of AU$1.24 million

Nyrada Inc. (ASX:NYR), a drug discovery and development company focused on innovative Transient Receptor Potential Canonical (TRPC) ion channel blockers, has announced its Quarterly Activities Report and Appendix 4C for the three-month period concluding 31 December 2024. The key highlights include the continued advancement of the development of lead drug candidate NYR-BI03, with preclinical efficacy studies demonstrating a statistically significant 86% cardioprotection effect following myocardial ischemia-reperfusion injury. Additionally, Good Laboratory Practice safety studies were completed, and the Phase Ia Clinical Trial regulatory package was submitted to the Human Research Ethics Committee. Nyrada also reported a sound financial position, with a fully subscribed placement successfully raising AU$3.29 million (before costs), a Securities Purchase Plan raising AU$0.09 million (before costs), and a R&D tax rebate of AU$1.24 million received. The company also expects to receive an additional AU$0.07 million (before costs) in the March 2025 quarter from Non-Executive Director participation, subject to CDI holder approval at the February 2025 Extraordinary General Meeting. Nyrada's cash position stood at AU$5.71 million as of 31 December 2024.

Nyrada expects to commence Phase Ia clinical trials for NYR-BI03 in early 2025, subject to satisfactory completion of the Phase I clinical trials. The company also plans to conduct Phase II clinical trials for stroke and ischemia-reperfusion injury in Australia, and for traumatic brain injury in the US.