Nyrada, Inc is a preclinical stage, drug discovery and development company, specialising in novel small molecule drugs to treat cardiovascular, neurological and chronic inflammatory diseases. The Company has 4 active programs all targeting market sectors of significant size, considerable unmet need, and where significant M&A activity is occurring. The cholesterol lowering program is the priority program at this stage.

Nyrada was founded by Non-Executive Director, Graham Kelly PhD, and spun out of Noxopharm Ltd in 2017. The rationale is a focus on non-oncology opportunities built on ground-breaking Australian scientific research.

About the cardiovascular program: this concerns the development of a small molecule PCSK9 inhibitor (NYX-330) that will be combined with a statin to achieve target blood LDL cholesterol levels. NYX-330 is the result of a breakthrough discovery by Australian chemists in the means of blocking the ability of PCSK9 to bind to LDL cholesterol. The aim is a once-a-day pill containing both a small molecule PCSK9i and a generic statin for those individuals where statin therapy alone fails to adequately control LDL cholesterol levels, or for those patients who cannot tolerate high statin dosages.

Market: Global sales of statins in 2020 are expected to exceed US$20 billion with an estimated 40% of individuals failing to respond adequately to statin therapy. Combination of a PCSK9 inhibitor plus a statin drug is regarded widely as the future of drug-based cholesterol management. A major pharma company recently paid US$9.7 billion for a U.S. company’s experimental PCSK9 inhibitor.

About the neuroprotection program: this concerns the development of a drug (NYX-104) designed to limit a condition known as excitotoxicity, a cause of secondary brain damage in patients who suffer primary damage from a stroke or traumatic brain injury (TBI). Secondary damage can double the area of brain cell death and that can lead to poor patient outcomes such as cognitive impairment, permanent disability, and death. NYX-104 is based on ground-breaking research on the biological processes associated with excitotoxicity by a research group at UNSW Sydney led by Professor Gary Housley.

Market: Currently there is no effective treatment to prevent excitotoxicity. Approximately 55,000 Australians and 800,000 Americans annually suffer stroke.

About the neuropathic pain program: this concerns the development of an anti-inflammatory drug (NYX-205) to treat pain associated with peripheral neuropathies associated with injuries such as sciatica, nerve crush injuries and chemotherapy-associated neuropathy. A key breakthrough has been the development (proven preclinically) of an anti-inflammatory drug capable of crossing the blood-nerve barrier and entering nerve tissue.

Market: The poor penetration into peripheral nerves of current anti-inflammatory and analgesic drugs accounts for the current poor management of pain and loss of function of peripheral neuropathies associated with crush injury (e.g. sciatica), diseases such as diabetes, and chemicals such as chemotherapy drugs.

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