Nyrada Inc - Annual Report 2021

NYRADA INC (ASX:NYR) 6 Our drug candidate aims to improve the survivability of these events and ultimately reduce a patient’s long-term disability. Critically, no treatments exist beyond neurosurgery and physical rehabilitation, making traumatic brain injury a serious and life-threatening condition. Preclinical results from this program have already attracted interest from world- leading scientific teams. In February 2021, we entered into a collaboration with the Walter Reed Army Institute of Research (WRAIR) in the US and the University of NSW Sydney (UNSW), to evaluate and advance our lead preclinical neuroprotection compound for traumatic brain injury. With around 1 in 25 military service members diagnosed with a traumatic brain injury, finding a treatment to mitigate the debilitating effects of these injuries is a key priority for WRAIR. We are actively working with WRAIR and our partner UNSW, to apply for government grants to provide non- dilutive funding. Our CEO, James Bonnar has extensive experience in developing neuroprotective agents, designing clinical trials, and securing US government funding for this area of unmet medical need. This year, we chose to formalise the qualities and principles that guide the Nyrada team’s interactions with external stakeholders and each other, through the creation of a statement of values. Our values focus on improving patient health, acting with integrity and delivering on our promises, recognising that our differences make for a stronger team, leveraging insights and outside-the-box thinking to deliver exceptional results, and that resilience in all aspects is key. I am proud to say Nyrada’s statement of values is already reflected in the way the team operates and further supports the company’s strong reputation in the market. Following a successful $11.5 million equity financing deal that was completed in June 2021, Nyrada is in a sound financial position to fund the planned Phase I clinical trials for both our key Programs, along with all the preparatory studies. We were pleased to have strong support from both existing and new shareholders for this financing, including Nyrada Directors. I wish to note that we were fortunate to have Mr. Ian Dixon join Nyrada’s Board as a Non- Executive Director in September 2020. Ian is a seasoned biotechnology entrepreneur with more than 20 years of experience in the Australian sector, and a co-inventor of the technology behind Nyrada’s Cholesterol-Lowering Program, giving him deep expertise in the development of PCSK9 inhibitors. He is also the founder and Managing Director of the ASX-listed exosome medicine company, Exopharm (ASX: EX1). Ian replaces Dr. Graham Kelly, who resigned from the Nyrada Board during the year in order to focus on his duties at Noxopharm. The Board wishes to thank Graham, who is Nyrada’s founder, for his vision, guidance, and tireless efforts in getting the Company established and underway. On behalf of the Board, I’d like to thank our shareholders for continuing to support Nyrada and sharing our vision to improve lives and offer hope through innovation. I’d also like to extend our sincere thanks to the whole operational team for their diligent efforts throughout the year. Nyrada is led by our highly experienced management team which continues to work hard to advance our programs with ongoing guidance from our exceptional Scientific Advisory Board. Looking ahead, Nyrada is entering an exciting period as it approaches first-in-human trials for both of its programs. We look forward to keeping you updated as we continue to report key milestones along the way. Yours sincerely, John Moore, Non-Executive Chairman Nyrada, Inc 30 August 2021