NYRADA INC (ASX:NYR) 6 Chair’s Letter Dear Fellow Stockholders, On behalf of the Nyrada Board of Directors, it gives me great pleasure to present our Annual Report for the 2024 Financial Year. I am delighted to share details of our Company’s progress. A New Era of Disease Targeting, Drug Discovery and Development Nyrada is dedicated to drug discovery and development, both of which are essential components of modern medicine and play a critical role in improving global health outcomes. The process of drug discovery involves identifying potential therapeutic compounds that can target specific diseases or conditions, followed by a rigorous development phase to refine these compounds into safe and effective drugs. This pathway is crucial for addressing unmet medical needs and providing new treatment options for diseases that currently lack effective therapies. It is fundamental to advancing our understanding of disease mechanisms, leading to the development of targeted therapies that offer more precise and effective treatments with fewer side effects. Over the past three decades, a deeper understanding of disease mechanisms has emerged. With this understanding, there have been corresponding advances in molecular biology to treat these disease pathways. For example, dramatically improved patient outcomes have resulted from drugs like Keytruda® and Opdivo®, which act as PD-1 inhibitors, and from Ozempic® and Mounjaro®, which are GLP-1 receptor agonists. Identifying drugs that effectively act on target pathways has led to near-miraculous health benefits for patients and significant wealth creation for investors. Nyrada’s Transient Receptor Potential Cation Channel Innovation Nyrada is the first company that we are aware of that is using a Transient Receptor Potential Cation (TRPC) channel-blocking therapy to target secondary brain injury. Nyrada is developing a small molecule drug that leverages new biomedical discoveries through pioneering TRPC channel-blocking therapies. Our lead drug, NYR-BI03, acts as a neuroprotective agent for traumatic brain injury (TBI) and stroke by seeking to block TRPC channels 3, 6, and 7. Immediately following the primary brain injury, these channels allow toxic levels of calcium to enter neurons, a process referred to as “excitotoxicity”, leading to cell death and secondary brain injury that adversely affects outcomes for the patient. “Notably, TRPC channel-blocking therapy is not limited to neurological conditions. Other researchers have published promising data related to other therapeutic areas where TRPC channels play an important role, including cardio and pulmonary diseases, autoimmune disorders, and cancer”
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