ANNUAL REPORT FY2024 9 CEO Report Dear Fellow Stockholders, It is my pleasure again to provide you with this update on Nyrada’s results and operations for the 2024 financial year. On behalf of the Board, I wish to thank you all for your ongoing support. Nyrada is a biotechnology company that specialises in developing novel therapeutic drugs for diseases where there is a significant unmet clinical need or where current treatments are inadequate. The Company’s main focus this year has been on our Brain Injury Program, where we are seeking to advance our first-in-class drug, NYR-BI03, into a human volunteer Phase I clinical trial. We expect this Phase I trial to commence before the conclusion of this calendar year. Brain Injury Program Novel Mechanism of Action Nyrada’s lead Brain Injury Program candidate, NYR-BI03, is a Transient Receptor Potential Cation (TRPC) ion channel blocker. It is a novel mechanism of action designed to act as a neuroprotective treatment for stroke and traumatic brain injury (TBI) sufferers. TRPC channels are a group of ion channels located in the cellular membranes of human cells, involved in various physiological processes that influence cell function. They play an important role in various diseases, including neurological disorders, where they impact neuronal health and function mainly through their role in regulating calcium and sodium ion flow into neurons. Blocking TRPC channels can reduce calcium overload in neurons, which is a common feature of neuronal injury in stroke and TBI. By preventing excessive calcium influx, TRPC blockers can protect neurons from cell death and reduce the extent of brain damage. NYR-BI03 is specifically designed to block TRPC 3/6/7 channels which play crucial roles in calcium signalling and are involved in a wide range of physiological and pathological processes. In February 2024, Nyrada completed a preclinical stroke study to assess the efficacy of NYR-BI03. The study produced a strong signal of neuroprotective efficacy and was well tolerated. MRI brain imaging showed statistically significant neuroprotection (p-value 0.021) was achieved when animals received the NYR-BI03 treatment. On average, NYR-BI03 therapy rescued 42% of the brain injury in the penumbra region seen in animals receiving vehicle. All animals in the study survived the (induced) ischemic brain injury and drug treatment with no drug-related adverse effects reported. This built upon NYRBI03’s good safety profile for continuous intravenous delivery in the sub-acute brain injury treatment interval. “NYR-BI03 is specifically designed to block TRPC 3/6/7 channels which play crucial roles in calcium signalling and are involved in a wide range of physiological and pathological processes.”
RkJQdWJsaXNoZXIy MjE2NDg3