Nyrada Inc Annual Report 2020

NYRADA INC (ASX:NYR) 6 CEO Report Dear Shareholders, I am pleased to report Nyrada’s good progress for the financial year 2020, a year which saw us become a listed company. We raised AU$8.5 million at listing and these funds are largely being applied to the preclinical studies needed to optimise and select the very best lead candidates for our two drug development programs and advance them to human trials. Despite the extraordinary global health and economic challenges from the COVID-19 pandemic, I am very pleased with the progress Nyrada has reported. During the year, our cholesterol lowering compounds demonstrated equivalency to the two FDA approved monoclonal PCSK9 antibody drugs which are only available as injections: Amgen's Repatha and Regeneron/Sanofi's Praluent. Our PCSK9 inhibitors are small molecules and as such, are cheap to produce and have the potential to be administered as a pill. They can also be combined with a statin into a single pill treatment. We believe that this represents a breakthrough in cholesterol management and overcomes the patient compliance challenges associated with the current injectable options and taking two separate treatments in combination. We also optimised and selected a lead drug candidate with improved potency and drug- like properties in July 2020, from more than 150 potential new compounds designed and evaluated through our medicinal chemistry work. The team is now focused on the preparations needed to start clinical trials in late 2021. Currently there is no approved drug to treat traumatic brain injury, so the Nyrada brain injury program represents disruptive innovation in a market with very large commercial potential. We were pleased to report that preclinical studies from our brain injury program delivered encouraging results. Our drug candidates have been shown to readily cross the blood-brain-barrier and achieve concentrations anticipated to be therapeutic. In a separate study, using extended dose duration, we found that administration via continuous intravenous (the preferred dosing method for moderate- severe traumatic brain injury and stroke patients) also maintained effective therapeutic levels in the brain. The team is now narrowing in on a lead compound to advance towards clinical trials in mid-2022. On behalf of the Nyrada team, sincere thanks to all investors who have supported us. The year ahead will be very active and busy for Nyrada, with news expected from our two lead programs, our active drug development pipeline, and industry engagement. We look forward to keeping shareholders updated. James Bonnar CEO