Nyrada Inc Annual Report 2020

Annual Report FY20 9 Marcus Frampton Non-executive Director, joined the Board on 4 th of June 2019. Marcus Frampton currently serves as the Chief Investment Officer of the Alaska Permanent Fund Corporation (APFC), the $69 billion sovereign wealth fund for the State of Alaska. Marcus manages the investment team at APFC and leads all investment decisions related to the APFC’s investment portfolio within the guidelines established by APFC’s Board of Trustees. Prior to joining the APFC in 2012, Marcus held positions ranging from Investment Banking Analyst & Associate at Lehman Brothers (2002-2005), to private equity investing at PCG Capital Partners (2005-2010), and acted as an executive of a private equity-backed portfolio company at LPL Financial (2010-2012). In addition to his duties at the APFC, Marcus is also a shareholder and sits on the board of directors of Scientific Industries, Inc., a leading manufacturer of laboratory equipment and the owner of intellectual property related to bioprocessing systems. Marcus graduated from UCLA with a Bachelor’s degree in Business- Economics and a Minor in Accounting. Ruediger Weswloh PH.D Non-executive Director, joined the Board on 4 th of June 2019. Ruediger is a Senior Director of Business Development at Merck KgaA, Darmstadt, Germany, where, in 14 years of doing BD, he has led more than 60 transactions for its pharmaceutical division, doing deals across the drug development value chain in the fields of Oncology, Rheumatology, Neurodegenerative diseases, and Fertility. Before Merck KgaA, Ruediger spent 5 years as a Biotech/Pharma Equity Analyst, at Gontard & Metallbank, Frankfurt, and Sal. Oppenheim, Cologne/Frankfurt, as well as 3 years as a Postdoc at the Max-Planck-Institute for Experimental Medicine in Goettingen. He has a university diploma in Biochemistry from the University of Hannover and a PhD in Molecular Neurobiology, obtained at the Center for Molecular Neurobiology in Hamburg. Ruediger also serves on the Supervisory Board of Cytotools AG, Freiburg, Germany. With the exception of Christopher Cox the above-named directors held office during the whole of the financial year and since the end of the financial year. Operating and financial review Principal activities The principal activity of the Company during the year was developing therapeutic treatments for cardiovascular, neurological and inflammatory/autoimmune diseases, primarily the development, testing and optimization of novel drug candidates while building on the Company’s patent portfolio. There were no significant changes in the nature of the Company’s principal activity during the financial year. Significant changes in state of affairs On 16 January 2020, the Company successfully listed its CHESS Depositary Interests (CDIs) on the ASX following the issue of 42,500,000 CDIs over shares of Class A common stock (Shares) at an issue price of $0.20 per CDI to raise A$8,500,000 (ratio of CDIs per share of 1:1). There were no other significant changes in the state of affairs of the Company during the year. Operating and financial results The loss of the Group for the year ended 30 June 2020, after accounting for income tax benefit, amounted to $5,773,667 (2019: $4,095,130). The year ended 30 June 2020 operating results are attributed to the following: • Research and development costs of $1,399,999 (2019: $1,041,201) • Share based payments in respect of transaction options issued to employees and contractors of $ 2,204,324 (2019: $503,333); and • Corporate and administration expenses of $571,862 (2019: $148,038)