Nyrada Successfully Raises $3.36 Million via Placement

Highlights:
•Nyrada has successfully raised $3.36 million of new equity capital (before costs) by way of a Placement to institutional, sophisticated and professional investors.
•Placement follows recent successful completion of GLP studies for lead drug candidate NYR-BI03 with Phase I in-human clinical study expected to commence by end of CY2024.
•In addition to its preclinical neuroprotection efficacy, NYR-BI03 has demonstrated strong preclinical efficacy in limiting heart damage associated following ischemia-reperfusion injury, offering a significant additional market opportunity.
•Nyrada Directors will participate in the placement in the amount of $0.07 million. Director participation is subject to shareholder approval at an Extraordinary General Meeting to be held in February 2025.
•Nyrada will also undertake a Securities Purchase Plan on the same terms as the Placement targeting an additional $1.00 million of new equity capital (before costs).
•Funds to be used primarily for completion of Phase Ia clinical trial and Investigational New Drug applications with the US Food and Drug Administration.