ESTABLISHMENT OF NYRADA INC.
• NOX establishes subsidiary Nyrada Inc. to develop non- oncology drug IP
• Nyrada is a New York-based drug discovery and development company
• Initial 3 drug assets in fields of substantial unmet clinical need
• Extraordinary general meeting to be called to approve the proposed transactions.
Sydney, 25 September 2017: Noxopharm Limited (ASX:NOX) is pleased to announce the formation of a subsidiary company, Nyrada Inc. (Nyrada), for the purpose of developing non-oncology drug intellectual property (IP). Nyrada is a US- registered company based in New York. Its purpose is to house non-oncology IP that is outside of Noxopharm’s primary focus on oncology drug development and which, in the Board’s view, represents the best means of creating value for Noxopharm shareholders from non-core IP.
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